On May 14th, Leapmotor and European automotive giant Stellantis Group jointly held a press conference, announcing the official establishment of the Leapmotor International Joint Venture Company.
Leapmotor International is a joint venture established by Stellantis Group and Leapmotor in a ratio of 51% to 49%, led by Stellantis Group, with comprehensive internal development capabilities.
At the press conference, Stellantis global CEO Carlos Tavares announced:
Leapmotor International will start sales in Europe from September 2024, involving countries such as Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain and Portugal. The plan is to expand the European sales network to 200 stores by the end of the year and to 500 stores by 2026.
Starting from the fourth quarter of 2024, Leapmotor International will enter India and Asia-Pacific (Australia, New Zealand,Thailand,Malaysia), Middle East and Africa (Turkey , Israel,French overseas territories)and South America (Brazil , Chile);
From 2025 onwards, there will be six new models launched successively;
The T03 and C10 models will be launched first. In the next three years, Leapmotor International plans to launch at least one new model every year.
Zhu Jiangming, CEO of Leapmotor, stated that in the Chinese market, they will focus on independent research and development. In the next three years, they plan to launch 2-3 new products annually.
SEE ALSO: Leapmotor: Discussions on Cooperation with Various Businesses of Stellantis Group Are Ongoing
On October 26th last year, Leapmotor announced that Stellantis Group plans to invest approximately 1.5 billion euros to acquire about 20% of Leapmotor’s shares. At the same time, both parties plan to establish a joint venture company named ‘Leapmotor International.’ Apart from Greater China region, this joint venture company exclusively holds the rights for exporting and selling products globally as well as manufacturing Leapmotor vehicles locally.
According to the plan, this year Leapmotor will enter overseas markets through exports. Stellantis officials have stated that Leapmotor International aims to sell 500,000 vehicles outside of the Chinese market by 2030.
Yesterday evening, Carlos Tavares had already visited Leapmotor’s headquarters, met with Zhu Jiangming, and rode in a new Leapmotor vehicle – the mid-size SUV C16.
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