Chinese EV Startup Leapmotor Partners With Stellantis To Debut New Models In Europe
Portfolio Pulse from Shivani Kumaresan
Stellantis N.V. and Leapmotor have completed their joint venture, Leapmotor International B.V., to introduce the T03 and C10 electric vehicles in Europe, with plans for global expansion. Stellantis invested €1.5 billion for a 21% stake in Leapmotor. The venture aims to leverage Stellantis' commercial presence outside Greater China and address climate issues with competitive EV models. Operations in nine European countries are expected to start by September 2024, with expansion to other regions following.
May 14, 2024 | 3:31 pm
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Stellantis' partnership with Leapmotor to introduce new EV models in Europe and plans for global expansion, backed by a €1.5 billion investment for a 21% stake in Leapmotor, reflects a strategic move to enhance its EV portfolio and global footprint. The positive market reaction, with STLA shares up 2.6%, indicates investor confidence in the venture's potential to drive growth and address climate issues with competitive EV offerings.
The formation of Leapmotor International B.V. and the investment in Leapmotor signify Stellantis' commitment to expanding its electric vehicle lineup and its footprint in the global market. The initial positive market reaction (2.6% increase in STLA shares) suggests that investors are optimistic about the joint venture's potential to contribute to Stellantis' growth and competitiveness in the EV sector. The strategic importance of this partnership for Stellantis is underscored by its substantial investment and the planned introduction of new EV models in key markets.
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