Stellantis-led joint venture Leapmotor International begins operations

Stellantis and Leapmotor announced that the two companies have received all required authorizations and the formation of Leapmotor International, a 51/49 Stellantis-led joint venture, is now complete. Headquartered in Amsterdam, the management team led by CEO Tianshu Xin, a former Stellantis China executive, are now laying the groundwork for an introduction of the T03 and C10 first in the European markets and expanding to India & Asia Pacific, Middle East & Africa, and South America starting in the fourth quarter 2024. In October 2023, the two companies announced a Stellantis investment of EUR 1.5B to acquire approximately 21% equity in Leapmotor, an automotive company ranked in the top 3 Chinese EV startup brands in 2023. The deal also outlined the formation of Leapmotor International, which would have exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China. The partnership aims to further boost Leapmotor’s sales in China, while leveraging Stellantis’ established global commercial presence to significantly accelerate Leapmotor brand sales in other regions. Leveraging Stellantis distribution channels, the launch plan will begin in Europe – France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania – starting in September 2024 supported by dedicated country managers and 200 points of sales by the end of the year, including Stellantis &You locations, ramping up to 500 by 2026 to ensure a high level of service for customers. In late 2024, the Leapmotor product launch roll-out will expand to the Middle East & Africa, India & Asia Pacific and South America.