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.
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.
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
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.
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.
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.
