Beijing (Gasgoo)- Global auto giant Stellantis N.V. ("Stellantis") and Chinese new energy vehicle maker Zhejiang Leapmotor Technology Co., Ltd. ("Leapmotor") announced today that they have completed all necessary approvals to establish Leapmotor International B.V. ("Leapmotor International"), with Stellantis leading the joint venture with a 51% stake and Leapmotor holding 49%.
Headquartered in Amsterdam, Netherlands, Leapmotor International is led by Mr. Xin Tianshu from the Stellantis China management team, serving as CEO. The joint venture is preparing to launch Leapmotor’s C10 and T03 electric models in Europe from the fourth quarter of 2024. Additionally, from the same period, Leapmotor International plans to introduce these models to markets in India, Asia-Pacific (excluding Greater China), the Middle East, Africa, and South America.
Exclusive rights are granted to Leapmotor International for the export and sales of Leapmotor vehicles globally outside Greater China, along with the sole authority to manufacture Leapmotor products locally.
Leapmotor International's electric vehicles are seen as complementary to Stellantis' current technology and iconic brand product lineup, offering customers worldwide more cost-effective mobility solutions.
Leveraging Stellantis' global distribution channels, Leapmotor International aims to launch Leapmotor vehicles in nine European countries from September this year. Dedicated business leaders will oversee operations in these markets, with plans to expand to 200 sales outlets by the end of 2024 and 500 by 2026, including within the Stellantis & You network, ensuring top-tier customer service.
By the end of 2024, product launches are also planned in Turkey, Israel, and French overseas territories in the Middle East and Africa, Australia, New Zealand, Thailand, Malaysia in Asia-Pacific, and Brazil and Chile in South America.
