Stellantis Becomes Strategic Shareholder of Leapmotor with €1.5 Billion Investment
Stellantis has announced a whopping investment of €1.5 billion in Leapmotor, one of China's fastest-growing pure-play new energy vehicle (NEV) firms. This investment will solidify Stellantis' position as a significant shareholder in Leapmotor, with an equity stake of approximately 20% and two seats on the Board of Directors.
By collaborating with Leapmotor, Stellantis aims to meet its core Dare Forward 2030 electrification targets. Leapmotor's focus lies in the mid-to-high end market, which is the largest and fastest-growing segment in China's automotive industry.
Leapmotor has caused some waves in the Chinese automotive industry asi it delivered approximately 111,000 NEV units in 2022.
Leapmotor’s star offering is its Cell-to-Chassis technology. Their innovative 'Four-Leaf Clover' Leap 3.0 central-controlled new electric and electronic architecture ensures seamless collaboration within the core components of smart EVs.
Stellantis CEO Carlos Tavares commented: “We feel it’s the perfect time to take a leading role in supporting the global expansion plans of Leapmotor, one of the most impressive new EV players who has a similar tech-first, entrepreneurial mindset to ours. Through this strategic investment, we can address a white space in our business model and benefit from Leapmotor’s competitiveness both in China and abroad.”
“Developed with our in-house, full-suite technology capabilities, Leapmotor brings to the market the best-in-class EV products in a most cost competitive way. We believe in win-win partnerships formed by strong players in the fast-evolving environment. Working with Stellantis, we will continue to be innovative and creative in technology and business synergies and will bring Leapmotor EV cars to the global market,” said Leapmotor Founder and CEO Zhu Jiangming.