Jeep, Dodge maker Stellantis to invest $1.6 billion in Chinese EV startup Leapmotor
- Stellantis, the parent company of Jeep and Chrysler, has acquired a 20% stake in Chinese EV maker Leapmotor.
- The deal allows Stellantis to utilize Leapmotor's cost-efficient EV ecosystem to achieve its goal of offering over 75 fully electric models by 2030.
- Stellantis aims to strengthen its presence in the Chinese market, while Leapmotor gains easier access to the European market through this joint venture.
57 Articles
57 Articles
Stellantis to buy stake in Chinese EV start-up Leapmotor
Global carmaker Stellantis said Thursday it will buy a 20 percent stake in Chinese electric car maker Leapmotor, making it the latest European brand seeking a foothold in the country's highly competitive market via partnerships with local manufacturers. Hangzhou-based Leapmotor only produces electric vehicles and is relatively unknown in Europe,…
Stellantis Makes $1.6 Billion Investment In Chinese EV Startup Leapmotor
Stellantis Makes $1.6 Billion Investment In Chinese EV Startup Leapmotor While almost all other auto manufacturers, especially those from Japan, are mulling exits from China (where domestic brands are starting to dominate the EV market), Stellantis is doing the opposite and investing in an EV startup. The U.S. based auto manufacturer who makes Jeep and Dodge brands said it would be investing 1.5 billion euros ($1.58 billion) into Chinese EV sta…
This is a new attempt by the company to enter the Chinese car market and take advantage of what it described as a Chinese “offensive” in other regions
Stellantis bought 20% of Leapmotor, based in Hong Kong, and will start exporting small electric vehicles from this Chinese manufacturer starting in July 2024
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