Leapmotor International, a Stellantis-led joint venture with a 51/49 split between Stellantis and Leapmotor, is set to revolutionize the electric vehicle (EV) industry through state-of-the-art technology and innovative practices. With robust in-house development capabilities, Leapmotor International aims to rapidly scale up operations, creating significant value for both Leapmotor and Stellantis.
Starting in Europe by September 2024, Leapmotor International plans to establish 200 sales points by year-end, expanding to India, Asia Pacific, the Middle East, Africa, and South America in the fourth quarter. The first models to launch will be the urban-savvy T03 and the family-centric C10, with at least one new model introduced each year over the next three years.
Innovative Models: T03 and C10
The T03, a competitive A-segment electric vehicle, boasts a 265 km WLTP range and offers B-segment interior space. Ideal for urban commuting, it combines style and practicality. The C10, a fully equipped D-segment family vehicle, features a 420 km WLTP range and a 5-star E-NCAP rating, offering a premium ride and handling experience.
Joint Venture Milestones
On May 14, 2024, Stellantis N.V. and Leapmotor announced the completion of Leapmotor International B.V., headquartered in Amsterdam. The management team, led by CEO Tianshu Xin, a former Stellantis China executive, is poised to successfully introduce the T03 and C10 models in Europe before expanding to other global markets.
In October 2023, Stellantis invested approximately €1.5 billion to acquire a 21% equity stake in Leapmotor, a top 3 Chinese EV startup brand in 2023. This partnership grants Leapmotor International exclusive rights to export, sell, and manufacture Leapmotor products outside Greater China, leveraging Stellantis’ global commercial presence to accelerate Leapmotor brand sales worldwide.
Strategic Vision and Leadership
Stellantis CEO Carlos Tavares emphasized the joint venture’s role in addressing global warming through advanced BEV models, competing with existing Chinese brands in key markets. Under Tianshu Xin’s leadership, Leapmotor International is developing a comprehensive global commercial and industrial strategy to rapidly expand sales distribution channels.
Leapmotor Founder, Chairman, and CEO Jiangming Zhu highlighted the efficiency of the partnership, enhancing global integration of China’s intelligent EV industry. By combining Leapmotor’s cutting-edge technology with Stellantis’ extensive overseas channels and marketing expertise, the partnership aims to provide a superior driving experience and establish Leapmotor as a world-class intelligent EV company.
Global Expansion and Market Penetration
Leapmotor International’s EV offerings complement Stellantis’ existing technology and iconic brand portfolio, providing affordable mobility solutions globally. The European launch will include countries such as France, Italy, Germany, the Netherlands, Spain, Portugal, Belgium, Greece, and Romania. By the end of 2024, the launch will expand to the Middle East & Africa, India & Asia Pacific, and South America, ensuring widespread availability of Leapmotor’s innovative EV models.
About the Leapmotor C10 and T03
The Leapmotor C10, built to global design and safety standards, is based on the self-developed LEAP3.0 technology architecture. It features industry-leading intelligent electric technology, including central integrated electronic and electrical architecture, cell-to-chassis (CTC) technology, and a flagship intelligent cockpit. The C10 has won prestigious awards such as the “2023 International CMF Design Award” and the 2024 Gold Award from the French Design Awards (FDA).
The Leapmotor T03, a small A-segment urban commuter car, offers B-segment interior space and a 265 km WLTP range. It has earned the top spot in the JD Power Initial Quality Study in the small BEV segment, recognized for its stylish design and enjoyable driving experience.
With its ambitious plans and innovative models, Leapmotor International is poised to make a significant impact on the global EV market, driving forward the future of electric mobility.
