Stellantis invests in budget EV partnership

November 02, 2023
Stellantis invests in budget EV partnership
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You have probably never heard of Leapmotor, but be prepared as this Chinese EV maker is to launch a budget EV in Europe with the assistance of a very big name. 


Stellantis is to become a strategic shareholder of Leapmotor with a €1.5 Billion Investment. Leveraging the strengths of both companies, Stellantis and Leapmotor will create a strategic global relationship that aims to bring highly competitive and highly efficient EV mobility to Europe and beyond. 

Leapmotor is among the fastest growing Chinese pure-play new energy vehicles, while Stellantis is one of the largest mobility companies responsible for brands such as:  Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot and Vauxhall. 

The two companies consider Leapmotor’s EV product offering to be complementary to Stellantis’ current technology and portfolio of iconic brands and will bring more affordable mobility solutions to global customers.

Leapmotor has enjoyed huge success in the Chinese market with its T03 small electric model. This retails for around €10,000, although shipping, import duties and safety modifications would mean a much higher European price. However,  Stellantis has the rights to sell the car in Europe and are planning to put a major push on sales in 2024 with affordability as the main selling point. 
 
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