Stellantis invests EUR1.5bn, becomes 20% shareholder in Leapmotor, boosting global EV business.
M2 EQUITYBITES-October 26, 2023-Stellantis invests EUR1.5bn, becomes 20% shareholder in Leapmotor, boosting global EV business
(C)2023 M2 COMMUNICATIONS http://www.m2.co.uk
Netherlands-based automotive manufacturer Stellantis N.V. (NYSE:STLA) (MTA:STLA) (Euronext Paris:STLA) and Chinese electric vehicle maker Leapmotor (HKG:9863) announced on Wednesday that Stellantis is set to invest around EUR1.5bn for a 20% equity stake in Leapmotor.
The collaboration also includes the establishment of Leapmotor International, a 51/49 Stellantis-led joint venture, exclusively handling the export, sale and manufacturing of Leapmotor products outside Greater China. This represents an industry-first global electric vehicle alliance between a major automaker and a Chinese pure-play NEV OEM, the two companies said.
This partnership aims to further boost Leapmotor's sales in China, while leveraging Stellantis' global commercial presence to significantly accelerate Leapmotor brand sales in other regions, beginning with Europe. Stellantis will tap into Leapmotor's innovative, cost-efficient EV ecosystem in China to support its Dare Forward 2030...
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