Stellantis N.V. (OTC:STLA) and Leapmotor have announced a €1.5 billion ($1.58 billion) investment from Stellantis to acquire approximately 20% of Leapmotor, making Stellantis a strategic shareholder. The deal also includes the creation of Leapmotor International, a joint venture led by Stellantis which will oversee the manufacturing and sales of Leapmotor products outside Greater China.
According to the press release, this partnership aims to boost Leapmotor's sales in China and significantly accelerate the brand’s sales in other regions, beginning with Europe. Furthermore, Stellantis plans to utilize Leapmotor’s efficient EV ecosystem to help meet its Dare Forward 2030 electrification targets, with the potential for more synergies in the future. The joint venture expects to begin shipments in the second half of 2024.
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