Stellantis Invests $1.6B In Leapmotor, Aims To Accelerate Global EV Sales
Portfolio Pulse from Benzinga Neuro
Stellantis N.V. (OTC:STLA) has announced a $1.58 billion investment to acquire approximately 20% of Leapmotor, making it a strategic shareholder. The deal includes the creation of Leapmotor International, a joint venture led by Stellantis, which will oversee the manufacturing and sales of Leapmotor products outside Greater China. The partnership aims to boost Leapmotor's sales in China and significantly accelerate the brand’s sales in other regions, starting with Europe. The joint venture expects to begin shipments in the second half of 2024.
October 26, 2023 | 6:49 am
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Stellantis's investment in Leapmotor could potentially boost its EV sales globally and help meet its Dare Forward 2030 electrification targets. The deal also gives Stellantis a strategic position in Leapmotor and influence over its international operations.
Stellantis's investment in Leapmotor gives it a strategic position in the company and could potentially boost its EV sales globally. This aligns with Stellantis's Dare Forward 2030 electrification targets. The deal also includes the creation of a joint venture to oversee Leapmotor's international operations, giving Stellantis influence over these operations.
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