At a joint press conference held today, Stellantis N.V. and Leapmotor announced the formation of Leapmotor International, a joint venture (JV) between Amsterdam-based Stellantis and Chinese EV brand Leapmotor. The joint venture, led by Stellantis with a 51 per cent stake, is set up with exclusive rights for Stellantis to export, sell, and manufacture Leapmotor products outside China, starting with Europe.
As part of the JV's global expansion strategy, Leapmotor will commence its operations in nine European countries in September 2024. These are Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain, and Portugal, with plans to expand Leapmotor's European sales points to 200 by the end of this year. Although the Chinese EV brand offers only the T03 vehicle in some European markets (including France), the joint venture calls for the launch of five global models in Europe through 2027. The Leapmotor T03 is one of the first models, apart from the C10, planned for export from China.
At the moment, the upcoming Leapmotor models are in the process of securing the homologation certificate. Following this, sales will commence. Beginning in the fourth quarter of 2024, Leapmotor International will expand into South America, the Middle East, Africa, India, and Asia Pacific regions. It will enter the UK in March 2025.
Speaking of India, the Stellantis-led joint venture will launch the T03 hatchback and the C10 SUV first. However, it remains to be seen whether Stellantis will assemble these vehicles in India or import them. Given the 'severe' customs duties or tariffs imported vehicles are subjected to, there is a possibility that Stellantis may choose to take the localisation route.
Leapmotor T03, C10: Highlights
The Leapmotor T03 is an A-segment electric hatchback, measuring 3,620mm long, 1,650mm wide, and 1,570mm tall. Powering the hatchback is a 41.3kWh lithium-ion battery with a WLTP-claimed range of 266km. On offer are three driving modes: Sport, Standard, and Economy. Upon arrival in India, it will go against the Tata Tiago EV, the MG Comet EV, and the Citroen e-C3.
Meanwhile, the Leapmotor C10 is a D-segment electric crossover built on the company's global LEAP3.0 cell-to-chassis (CTC) architecture. It has a WLTP-claimed 420km range and a 5-star E-NCAP safety rating. In terms of market competition, it will be Leapmotor's answer to the likes of the BYD Atto 3 and the MG ZS EV.
Other than these two, Stellantis will introduce at least one new model per year over the next three years, including a new B-segment hatchback, a B-segment SUV, a C-segment hatchback and a C-segment SUV.
Also Read: Citroen Basalt Mid Variant Spotted Testing in India, Reveals New Details
Leapmotor's Comment
Zhu Jiangming, CEO, Leapmotor, said, 'By utilising Leapmotor's innovative technologies and cutting-edge products, with Stellantis' support in overseas distribution, services and marketing, we aim to offer customers around the world an exceptional driving experience and on-board comfort. We believe that this partnership will give Leapmotor further impetus to become a globally recognised manufacturer of intelligent electric vehicles.'
Write your Comment