Auto Finance News

Leapmotor International to expand global EV sales from September 2024


Stellantis N.V. and Leapmotor have announced that the formation of Leapmotor International B.V., a 51/49 Stellantis-led joint venture, is now complete after receiving all required authorisations.

Headquartered in Amsterdam, the management team led by CEO Tianshu Xin, a former Stellantis China executive, are now laying the groundwork for the introduction of the T03 and C10 models first in the European markets and expanding to India & Asia Pacific (excluding Greater China), Middle East & Africa, and South America starting in the fourth quarter 2024.

In October 2023, Stellantis acquired approximately 21% equity in Leapmotor, for ca. €1.5 billion. The deal outlined the formation of Leapmotor International, which would have exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China.

The partnership aims to further boost Leapmotor’s sales in China, while leveraging Stellantis’ established global commercial presence to significantly accelerate Leapmotor brand sales in other regions.

“The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models that will compete with existing Chinese brands in key markets around the world,” said Stellantis CEO Carlos Tavares.

Leveraging Stellantis distribution channels, the launch plan will begin in Europe – France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania – starting in September 2024.

In late 2024, the Leapmotor product launch roll-out will expand to the Middle East & Africa (Turkey, Israel and French Overseas), India & Asia Pacific (Australia, New Zealand, Thailand, Malaysia and India), and South America (Brazil and Chile).

Leapmotor Founder, Chairman and CEO Jiangming Zhu said, “Leveraging Leapmotor’s cutting-edge technology and products, along with Stellantis’ support in areas such as overseas channels, services, and marketing, we hope that users around the world can experience the exceptional driving and riding experience brought by Leapmotor products. We believe that this cooperation can give Leapmotor a boost to become a respected world-class intelligent electric vehicle company.”