Stellantis becomes a shareholder of Leapmotor

Stellantis invests €1.5 billion in Leapmotor to develop a joint international electric vehicle business.

In order not to fall behind in the relentless global race towards electric transition, Stellantis has decided to partner with a dynamic and recognized player in the industry, Leapmotor. Leapmotor delivered approximately 111,000 electric vehicles in 2022, placing it within the top third of specialized Chinese manufacturers. Over the next three years, Leapmotor’s product plan should cover all segments from A to E, based on a single technical architecture comprising three highly scalable platforms equipped with electric motors and range extenders.

Stellantis plans to invest nearly €1.5 billion to acquire around 20% of Leapmotor, making it a key shareholder. The agreement also includes the creation of a joint venture, “Leapmotor International,” managed by Stellantis on a 51/49 basis, which will hold exclusive rights to manufacture, export, and sell Leapmotor products outside of China. This will be the first such international partnership in the electric vehicle market between one of the world’s leading automakers and a new-generation Chinese car manufacturer.

This partnership has two main goals: firstly, to further boost Leapmotor’s sales in China, the world’s largest market, and secondly, to leverage Stellantis’ international commercial presence to significantly accelerate Leapmotor’s sales in other regions, starting with Europe. This highly innovative and high-performance electric vehicle ecosystem from Leapmotor in China will contribute to achieving the electrification strategic goals of Stellantis’ Dare Forward 2030 plan. It will also enable the exploration of future synergies with its partner. The joint venture aims to begin the first deliveries in the second half of 2024.

Founded in early 2021 but backed by over a century of experience, Stellantis brings together 14 iconic automotive brands and two mobility actors with the goal of ensuring safe, clean, and affordable mobility for its customers in more than 130 markets, through industrial activity in over 30 countries. In 2022, Stellantis delivered more than 6 million vehicles, generating a net revenue of €179.5 billion and a net profit of €16.8 billion. In the first half of 2023, the company posted one of the highest operating results (AOI) in the sector at 14.4%.