'Stellantis Nears Deal To Buy 20% Of Chinese EV Maker Leapmotor' - BNN Bloomberg
Portfolio Pulse from Benzinga Newsdesk
Stellantis NV is reportedly close to acquiring a 20% stake in Chinese electric vehicle (EV) company Zhejiang Leapmotor Technologies Ltd. The deal, which could be announced in the coming days, is part of Stellantis' efforts to expand its presence in the Chinese auto market. The companies are also discussing a joint venture that could allow Stellantis to manufacture and sell Leapmotor cars outside China. Stellantis owns brands including Chrysler, Fiat, Jeep, and Peugeot.
October 25, 2023 | 12:25 pm
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Stellantis NV is close to acquiring a 20% stake in Chinese EV company Leapmotor. The deal could boost Stellantis' presence in the Chinese auto market and potentially allow it to manufacture and sell Leapmotor cars outside China.
The acquisition of a stake in Leapmotor could significantly boost Stellantis' presence in the Chinese auto market, which is the world's largest. The potential joint venture could also allow Stellantis to manufacture and sell Leapmotor cars outside China, expanding its global reach. This could have a positive impact on Stellantis' stock in the short term.
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