China’s Leapmotor ties up with Stellantis to enter Indian EV market

Chinese electric vehicle (EV) maker Leapmotor is looking to roll out its range of EVs in partnership with Europe’s Stellantis in India in the last quarter of the current fiscal, the companies said.

With this, Leapmotor will become the third Chinese brand to enter India’s EV market, following SAIC’s MG Motor and BYD.

The launch of the EVs in India will be part of the automakers’ global rollout plans.

Headquartered in Amsterdam, the management team at Leapmotor International B.V., a 51/49 Stellantis-led joint venture, is led by chief executive officer Tianshu Xin, a former Stellantis China executive.

The team is laying the groundwork to roll out T03 and C10 models first in the European markets and expanding to India and the Asia-Pacific (except for China), the Middle East and Africa, and South America.

Leapmotor will kick off its operations in Europe by September through 200 points of sale by the end of the year, with plans to expand to India and Asia Pacific, the Middle East, Africa, and South America starting in the fourth quarter, the company said.

Last October, Stellantis invested €1.5 billion to for a 21% equity in Leapmotor, an automotive company ranked among the top three Chinese EV startup brands in 2023.

As part of this deal, Leapmotor International would retain rights for the export and sale, as well as manufacturing, of Leapmotor products outside China.

The Leapmotor-Stellantis partnership will boost Leapmotor’s sales in China, the world’s biggest market. It will leverage Stellantis’ established global commercial presence to significantly accelerate Leapmotor brand sales in other regions, the companies said.

“The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models that will compete with existing Chinese brands in key markets around the world,” said Stellantis CEO Carlos Tavares.

He added, “Leveraging our existing global presence, we will soon be able to offer our customers price-competitive and tech-centric electric vehicles that will exceed their expectations. Under Tianshu Xin’s leadership, they have built a compelling worldwide commercial and industrial strategy to quickly ramp up the sales distribution channels to support Leapmotor’s robust growth and create value for both partners.”

“The partnership between Leapmotor and Stellantis demonstrates a high level of efficiency, opening a new chapter in the global integration of China’s intelligent electric vehicle industry,” said Leapmotor founder, chairman, and CEO Jiangming Zhu.

Zhu added, “Leveraging Leapmotor’s cutting-edge technology and products, along with Stellantis’ support in areas such as overseas channels, services, and marketing, we hope that users around the world can experience the exceptional driving and riding experience brought by Leapmotor products. We believe that this cooperation can give Leapmotor a boost to become a respected world-class intelligent electric vehicle company.”