Stellantis is partnering with Leapmotor to sell budget electric vehicles (EVs) to the European market, aiming to introduce Chinese EVs while establishing its place against European automakers. The joint venture from both companies for the European market will be called Leapmotor International, a 51/49 Stellantis-led company.

 The Leapmotor International joint venture was first revealed by Stellantis CEO Carlos Tavares and Leapmotor founder and CEO Zhu Jiangming, where the joint venture started by launching two Leapmotor models in Europe in September through a starting network of 200 dealerships according to Reuters. 

Furthermore, Leapmotor International will focus on selling EV models at a low price point. This includes an EV model priced under 20,000 euros ($21,640) as stated by Tavares, which would compete with BYD’s line of affordable EV models according to Reuters. Moreover, Stellantis’ Tychy plant in Poland could be selected to produce Leapmotor EVs in Europe, but competitive pricing and quality will be the main focus.  

Leapmotor International will also plan to sell its EVs in nine European countries including Germany, France, Italy, Spain, and the Netherlands. The joint venture will also be selling its EVs in South America, the Middle East and Africa, and the India-Asia Pacific regions from Q4 2024. The joint venture also has plans to launch at least one EV model per year over a three-year period. 

This joint venture holds crucial importance as Stellantis has invested a total of $1.6 billion in Leapmotor with exclusive rights to build, export, and sell Leapmotor products outside the Chinese market. With Chinese automakers facing difficulties entering certain European markets, Stellantis and Leapmotor’s joint venture will face those challenges head-on. 

As the global EV market observes the strategies in place from Leapmotor International, this joint venture is a new chapter for both companies as they head into the European market through its goals of launching affordable Chinese EVs. Leapmotor International will launch the T03 and C10 models first in the European market. 

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