On May 14th, the establishment of LEAPMOTOR International, a joint venture between Stellantis Group and LEAPMOTOR, was announced.
In terms of equity structure, Stellantis holds 51% of the shares of LEAPMOTOR International, while LEAPMOTOR Technology holds the remaining 49%. The establishment of LEAPMOTOR International not only constitutes an integral step in the integration of technology and resources for both companies, but also a crucial maneuver in LEAPMOTOR’s international strategy.
Based in Amsterdam, Netherlands, the choice of location for LEAPMOTOR International’s headquarters is attributed to the region’s open business environment and friendly policies towards electric vehicles. Additionally, the CEO of LEAPMOTOR International is appointed from Stellantis Group, Xin Tianshu.
Two electric vehicle models, T03 and C10, are scheduled to be launched by LEAPMOTOR International. Sales are forecasted to commence in nine European countries through 200 sales points starting from the fourth quarter of 2024. A robustly optimistic attitude is maintained towards the market potential that these two products could unleash.
The technological features and market positioning of the C10 and T03 models demonstrate LEAPMOTOR International’s professionalism in product research and development and profound understanding of market demand. The technological architecture and safety test scores of C10, together with the design awards it has earned, all serve to boost consumer trust in the brand. Meanwhile, the rank of T03 in initial quality studies can improve the brand’s image in the submarket of small pure electric vehicles.
The previous investment by Stellantis Group in LEAPMOTOR, along with LEAPMOTOR’s performance in the Chinese market, has set up a solid foundation for the joint venture. Carlos Tavares, CEO of Stellantis Group, expresses great confidence in the joint venture, believing it will enhance the competitiveness of their electric vehicles in the global market. The global commercial and industrial strategy laid out by LEAPMOTOR International, along with its planned expansion of sales and distribution channels, further reflects the company’s clear plan for future development.
The expression by Zhu Jiangming indicates mutual synergies between the partners. The technical and product competitiveness of LEAPMOTOR, backed by the support of Stellantis Group, is likely to offer global users an improved product experience. The electric vehicle products of LEAPMOTOR International will supplement the product lineup of Stellantis Group, possibly enhancing the group’s variety and competitive differentiation in the global new energy vehicle market.
In general, the establishment of LEAPMOTOR International represents a significant step for both partners in the global new energy vehicle market. With the strategic implementation underway, the next few years are set to be a key period for the company’s product promotion and brand building.
This article is a translation by AI of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.