Stellantis acquires 21% stake in Leapmotor for $1.6B, gaining exclusive rights to build, export, and sell Leapmotor EVs outside China.
China's NDRC approved a joint venture between Stellantis, a top-4 automaker, and Chinese EV maker Leapmotor. Stellantis will acquire a 21% stake in Leapmotor for $1.6B, securing exclusive rights to build, export, and sell Leapmotor EVs outside China. The deal is subject to regulatory approval in other markets and marks a first for a legacy western automaker amid EU-China trade tensions over subsidies.
March 06, 2024
5 Articles