Stellantis and Leapmotor, a Chinese EV start-up brand, have announced the formation of Leapmotor International, a 51/49 Stellantis-led JV headquartered in Amsterdam, after receiving the necessary authorizations to do so.
Leapmotor International will be led by CEO Tianshu Xin, a former Stellantis China executive, and launch Leapmotor’s T03 and C10 models in new regions. The EVs will debut first in the European markets before expanding to India & Asia Pacific (excluding Greater China), the Middle East & Africa, and South America from Q4 2024. Together, the companies aim to further boost Leapmotor’s sales in China, while leveraging Stellantis’ established global commercial presence to accelerate Leapmotor sales in other regions.
The announcement follows Stellantis investing €1.5 billion ($1.6 billion) to acquire around 21% equity in Leapmotor. This deal likewise outlined the future formation of Leapmotor International, which would have exclusive rights for the manufacturing, export, and sale of Leapmotor products outside Greater China. Leapmotor International’s EV product offering is considered complementary to Stellantis’ current technology and brand portfolio, and ultimately aims to bring more affordable mobility solutions to global customers.
Leveraging Stellantis distribution channels, the JV’s launch plan will begin in Europe. In September 2024, it will begin sales in France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, and Romania with dedicated country managers and 200 points of sales by the end of the year. This figure, which includes Stellantis &You locations, is expected to increase by up to 500 by 2026 to ensure a high level of service for Leapmotor International customers across Europe. In late 2024, this rollout will then expand to the Middle East & Africa (Turkey, Israel and French Overseas), India & Asia Pacific (Australia, New Zealand, Thailand, Malaysia and India), and South America (Brazil and Chile).
These regions will receive updated versions of Leapmotor’s C10 and T03 EVs, which are already available in China. The C10 represents the OEM’s first global product based on global design and safety standards. The EV on Leapmotor’s proprietary LEAP3.0 architecture, which features a central integrated E/E architecture, cell-to-chassis (CTC) technology, and Leapmotor’s flagship intelligent cockpit. The platform also enables the crossover’s key driving capabilities, such as its 260-mile (420-km) range, based on the WLTP scale.
The Europe-bound Leapmotor T03 is a small five-door, city car that Leapmotor says offers both B-segment interior space and up to 164 miles (265 km) of range. In China, the latest T03 offers a high-power 100 hp (80 kW) electric motor and starts at 49,990 yuan ($6,920). Further specifications on the international versions of both models, as well as their pricing and availability, will be revealed closer to launch.