Stellantis acquires 21% stake in Leapmotor for a low-cost EV strategy, overcoming tariffs.

Stellantis, the fourth-largest automaker, is shifting to a low-cost strategy inspired by Chinese EV manufacturers to counteract tariffs in Europe and the U.S., which CEO Carlos Tavares deems anticompetitive. The company has acquired a 21% stake in Chinese EV maker Leapmotor, establishing a joint venture to access its technology. Despite political challenges and a 100% tariff on Chinese EVs in the U.S., Stellantis aims to leverage this partnership to stay competitive globally.

September 26, 2024
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