Leapmotor T03, the Chinese Trick of Stellantis

To compete with a bestseller like the Dacia Spring, one can create a model… or acquire a manufacturer.

In October 2023, an investment of nearly 1.5 billion euros was announced by Stellantis for the acquisition of approximately 21% of Leapmotor’s capital, a car manufacturer ranked in the top 3 of Chinese electric startups. The agreement provided for the creation of a joint venture “Leapmotor International,” holding the exclusive rights for export, sales, and manufacturing of Leapmotor products outside of China. Stellantis and Leapmotor have finally received all the necessary approvals to establish this Leapmotor International joint venture, managed by Stellantis at 51/49, and are preparing to launch the T03 model in European markets.

A new model? Certainly not, as we tested it exclusively in October 2022! It had even been for sale for a while on the Leapmotor France website, which now only presents it and offers a test drive.

Second Dance

At the beginning of 2023, Leapmotor relied on the Toulouse-based importer Eve France to distribute its range of electric vehicles in France. Priced at 25,990 euros, the T03 dropped to 20,990 euros with the bonus deducted, or even 18,990 euros for those who could benefit from the super bonus of 7,000 euros. The good old days when identity papers were not scrutinized for an electric car to receive a nice bonus. At this price point, it positioned itself as one of the most affordable electric cars on the market. However, it has since lost its bonus, and its price then became insufficient to compete with the queen of small electrics, the Dacia Spring. Affordable and well-finished, the small Leapmotor had everything going for it, except a name and a network capable of reassuring potential customers.

18 months later, here it is being distributed by the giant Stellantis, which inevitably changes the game. Leapmotor International indeed plans to launch its operations in Europe in September 2024 with the establishment of 200 points of sale by the end of the year! This will surely relaunch, or simply properly launch the career of a promising model.

EXCLUSIVE TEST: LEAPMOTOR T03