All articles tagged with #leapmotor
Stellantis CEO Antonio Filosa said the company could expand Chinese-brand vehicle production with Leapmotor into Mexico and possibly Canada, but not the United States, while pursuing US partnerships with non-Chinese brands such as Jaguar Land Rover; discussions include a Brampton, Ontario plant and continuing Leapmotor collaboration to grow sales and share costs.
Stellantis and Leapmotor say they will deepen their partnership to boost European BEV production, including adding a new Opel C-SUV BEV line at the Zaragoza (Figueruelas) plant alongside Leapmotor’s C-SUV B10, aided by LPMI components to improve affordability. They also aim to expand LPMI purchasing to accelerate time-to-market, and explore expanding Leapmotor’s products at the Villaverde, Madrid plant with ownership potentially transferring to LPMI’s Spanish subsidiary, all aligned with Made-in-Europe requirements. Feasibility studies are underway, with potential production timelines targeting 2026 for B10 at Zaragoza and 2028 for the Opel C-SUV, plus early 2028 for a Leapmotor model at Villaverde, subject to definitive agreements.
Stellantis, the parent company of brands like Jeep and Dodge, has announced a $1.6 billion investment in Chinese electric vehicle (EV) startup Leapmotor. The investment will establish the Leapmotor International joint venture, with Stellantis holding a majority 51% interest. The move aims to boost sales of Leapmotor's EVs overseas and help Stellantis gain a stronger foothold in the competitive Chinese EV market. Stellantis currently holds just a 0.3% market share in China. The deal will provide Stellantis with access to Leapmotor's technology and manufacturing capabilities, while Leapmotor can leverage Stellantis' network to expand its presence in Europe. However, previous partnerships between traditional automakers and Chinese companies have faced challenges, casting some doubt on the success of this investment.
Stellantis, the parent company of Chrysler, is acquiring a 21% stake in Chinese electric vehicle (EV) maker Leapmotor for $1.6 billion as part of its new strategy to focus on EVs in China. The deal includes the formation of a joint venture, giving Stellantis exclusive rights to export, sell, and manufacture Leapmotor products outside of Greater China. This partnership reflects China's emergence as a global center for EV technology. However, some analysts are skeptical that such minority-stake partnerships will help foreign auto brands revive their declining fortunes in China. Stellantis has struggled to sell cars in China and hopes this partnership will give it a crucial foothold in the Chinese market.
Chinese electric vehicle maker Leapmotor has unveiled a new manufacturing platform called "Four Leaf Clover" that integrates an advanced computing platform capable of controlling all intelligent functions, including autonomous driving and smart cockpit features. Leapmotor aims to license this platform to other automakers and is currently in talks with two foreign companies for potential partnerships. The company expects the platform to reduce materials costs per car by 500 yuan ($70) and plans to launch an improved version in 2025. Leapmotor, along with other Chinese EV startups, has faced challenges due to competition from Tesla, but its focus on R&D investment and innovative technology has attracted tech-savvy Chinese consumers.