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Reading: China’s Leapmotor to expand in the global market with Stellantis’ help
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EV-a2z > News > China’s Leapmotor to expand in the global market with Stellantis’ help
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China’s Leapmotor to expand in the global market with Stellantis’ help

EV-a2zm
Last updated: 2024/05/21 at 5:36 PM
EV-a2zm Published May 15, 2024 3 Min Read
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The Stellantis logo and new flags are installed at Mirafiori. Stellantis was created from the merger of the Fiat Chrysler Automobiles and PSA industrial groups
The Stellantis logo and new flags are installed at Mirafiori. Stellantis was created from the merger of the Fiat Chrysler Automobiles and PSA industrial groups
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Chinese electric vehicle startup Leapmotor is preparing to launch its low-cost models in the global market with the help of its more established partner, Stellantis. 

Contents
Leapmotor and Stellantis’ joint ventureLeapmotor to penetrate the Australian market

According to the press release, Australia is among the new markets Stellantis and Leapmotor plan to penetrate worldwide under their new joint venture.

Leapmotor and Stellantis’ joint venture

Stellantis and Leapmotor officially announced the formation of their new joint venture, the Leapmotor International, on Tuesday. Stellantis controls 51% of the joint venture, while the Chinese partner owns the remaining 49% stake.

. @Stellantis and @Leapmotorglobal set up a 51:49 JV in Amsterdam yesterday. Leapmotor International will start introducing vehicles in nine European countries from September and expand to the Indian, Asia Pacific, Middle Eastern, African, and South American markets from Q4. pic.twitter.com/XYiflt1XAB

— Yicai 第一财经 (@yicaichina) May 15, 2024

Former Stellantis China executive Tianshu Xin now serves as the Amsterdam-based joint venture’s Chief Executive. The management team is currently working to finally launch the T03 and C10 in the European markets first before penetrating the following regions:

  • India & Asia Pacific (Australia, New Zealand, Thailand, Malaysia, and India, excluding Greater China)
  • Middle East & Africa (Turkey, Israel, and French Overseas)
  • South America (Brazil and Chile)

“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.”

Stellantis CEO Carlos Tavares

The Leapmotor boss also emphasized how Stellantis’ overseas channels, services, and marketing expertise would help its business to grow in the global market.

“The partnership between Leapmotor and Stellantis demonstrates a high level of efficiency, opening a new chapter in the global integration of China’s intelligent electric vehicle industry.”

Leapmotor Founder, Chairman and CEO Jiangming Zhu

#Stellantis y @Leapmotorglobal
 anunciaron que la empresa conjunta Leapmotor International comenzará a operar para expandir las ventas globales de vehículos eléctricos, a partir de septiembre de 2024 en nueve países europeos, seguidos de otras regiones clave de crecimiento pic.twitter.com/bQ1scwvsH9

— Stellantis México (@StellantisMX) May 14, 2024

Leapmotor to penetrate the Australian market

Leapmotor International’s global expansion includes launching two electric vehicle models in the Australian market in late 2024. The lineup consists of a pint-sized city car and a Tesla Model Y-sized SUV, per Drive.

Another Chinese EV player ready to land. Leapmotor on sale here late this year, likely with the Tesla Model Y-rivalling C10 SUV, but for far less $$. Is Australia reaching 'new car brand' saturation point?#Leapmotor #leapmotorc10 #c10 https://t.co/usYXIWMVnw

— EV Central (@central_ev) May 14, 2024

However, the JV has yet to reveal more details about the new models, like prices and specifications. For reference, the cheapest version of the Leapmotor T03 city hatch costs less than 50% of Australia’s most affordable EV, GWM Ora‘s $35,990 (drive-away).

However, it does not necessarily mean that the T03 will cost $18,000 in Australia. It will still need to secure the mandatory crash-avoidance safety technology as the China-spec model lacks basic safety features like side airbags. The other Leapmotor EV coming to Australia is the C10 SUV.

#Stellantis inicia las operaciones con #Leapmotor en Europa: nuevos coches eléctricos baratos en camino https://t.co/SvCUohSWzG

— ForoCochesEléctricos (@foroelectricos) May 15, 2024

The global launch of the first two Leapmotor EVs will continue with another SUV model in 2025, two hatchbacks in 2026, and a third SUV in 2027. The expansion plans demonstrate Stellantis and Leapmotor’s commitment to revolutionizing the electric vehicle market through innovative yet affordable models. 

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TAGGED: Australia, Electric Vehicle, Europe, EV, Leapmotor, Leapmotor C10, Leapmotor T03, Stellantis
EV-a2zm May 21, 2024 May 21, 2024
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