Leapmotor International to Begin European Operations in September 2024, Expanding to Other Key Regions
- Stellantis and Leapmotor’s Joint Venture: Leapmotor International, a 51/49 partnership between Stellantis and Leapmotor, focuses on redefining electric vehicles with cutting-edge technology and in-house development capabilities.
- Rapid Expansion Plans: Leapmotor International aims to scale operations quickly, driving value for both Leapmotor and Stellantis.
- Global Market Entry: Operations in Europe will commence in September 2024, with 200 sales points by year-end. Expansion plans include India, Asia Pacific, Middle East, Africa, and South America starting Q4 2024.
- New Model Launches: T03 and C10 models will debut first, with at least one new model introduced annually over the next three years.
Detailed Insights:
- T03 Model: An urban, A-segment EV offering a 265 km WLTP range and B-segment interior space.
- C10 Model: A family-oriented, D-segment vehicle with a 420 km WLTP range and a 5-star E-NCAP rating.
Official Announcements:
AMSTERDAM, HONG KONG, May 14, 2024 – Stellantis N.V. and Leapmotor have finalized the formation of Leapmotor International B.V., a joint venture to introduce Leapmotor’s T03 and C10 models in Europe by September 2024. The expansion will later include India, Asia Pacific, Middle East, Africa, and South America starting in Q4 2024.
In October 2023, Stellantis invested approximately €1.5 billion to acquire 21% equity in Leapmotor, forming Leapmotor International to manage Leapmotor’s export, sale, and manufacturing outside Greater China. The partnership aims to leverage Stellantis’ global presence to boost Leapmotor’s international sales.
Executive Statements:
- Carlos Tavares, Stellantis CEO: “Leapmotor International will address global warming with state-of-the-art BEV models, competing in key markets worldwide. Leveraging our global presence, we will offer tech-centric EVs that exceed customer expectations.”
- Jiangming Zhu, Leapmotor Founder and CEO: “Our partnership with Stellantis opens a new chapter for China’s intelligent EV industry. We aim to deliver exceptional driving experiences globally and boost Leapmotor’s standing as a world-class EV company.”
Market Strategy:
Leapmotor International’s EV offerings will complement Stellantis’ current portfolio, bringing affordable mobility solutions to global customers. The initial European launch will cover France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, and Romania, with 200 sales points by the end of 2024, increasing to 500 by 2026. Expansion into the Middle East, Africa, India, Asia Pacific, and South America will follow in late 2024.
About Leapmotor Models:
- C10: Built on Leapmotor’s LEAP3.0 technology, the C10 features industry-leading intelligent electric technology, a central integrated electronic architecture, CTC technology, and an intelligent cockpit. It offers a 420 km WLTP range and a 5-star E-NCAP rating, having won the 2023 International CMF Design Award and the 2024 Gold Award from the French Design Awards.
- T03: A five-door, A-segment commuter car with stylish design and a 265 km WLTP range, it ranked No. 1 in JD Power’s Initial Quality Study in the small BEV segment.
