Stellantis Partners With Leapmotor For India Entry
Stellantis, a major player in the global automotive industry, made waves in October 2023 with its €1.5 billion investment to acquire a significant 21% equity stake in Leapmotor, a Hong Kong-based electric vehicle (EV) manufacturer. This strategic move signaled Stellantis” intention to broaden its presence in emerging markets, including India, through the introduction of the Leapmotor brand.
As one of the world”s largest auto conglomerates, Stellantis boasts nearly twenty automotive original equipment manufacturers (OEMs) under its umbrella. In India, the conglomerate primarily operates through established brands such as Jeep and Citroen, supplemented by imports from luxury marque Maserati. Now, with the partnership with Leapmotor, Stellantis is set to introduce a new automotive brand to the Indian market.
The collaboration with Leapmotor led to the establishment of Leapmotor International B.V., a joint venture wherein Stellantis holds a 51% majority stake. Headquartered in Amsterdam, Netherlands, and helmed by CEO Tianshu Xin, a former Stellantis executive in China, this venture sets its sights on delivering affordable electric vehicles to developing markets, including India, commencing from the fourth quarter of 2024.
Stellantis” global CEO, Carlos Tavares, emphasized the significance of the partnership, highlighting plans to export vehicles manufactured by Leapmotor from China to various regions worldwide. With an ambitious roadmap in place, Stellantis aims to penetrate markets across Europe, the Middle East, Africa, Asia Pacific, and South America, with Europe slated as the initial target for Leapmotor”s entry by the end of 2024.
In Europe, Leapmotor intends to launch its products in nine countries, including Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain, and Portugal, beginning September 2024. Subsequently, the rollout will extend to other regions, including India, as part of Stellantis” commitment to offering accessible electric mobility solutions on a global scale.
Leapmotor has outlined its product roadmap, encompassing models tailored to various market segments. The T03, positioned as an entry-level hatchback, is set to rival popular models like the Tata Tiago and MG Comet EV. Featuring a commendable single-charge range of 265 km (WLTP), the T03 embodies Leapmotor”s dedication to delivering practical and efficient electric mobility solutions.
Meanwhile, the Leapmotor C10 represents the brand”s flagship offering, underpinned by the LEAP3.0 technology architecture. This advanced platform integrates cutting-edge electric propulsion systems, including cell-to-chassis (CTC) technology, culminating in an intelligent and connected driving experience. The C10, classified as a D-segment vehicle, promises a premium ride and handling experience, complemented by a WLTP range of 420 km and a stellar 5-star Euro NCAP safety rating.
As Stellantis and Leapmotor embark on their collaborative journey, further details regarding these electrifying prospects are expected to unfold in the coming months, heralding a new era of sustainable mobility solutions for consumers worldwide.
