Leapmotor International Begins Operations to Expand Global Electric Vehicle Sales Starting September 2024 in Nine European Countries, Followed by Other Key Growth Regions
Leapmotor International, a joint venture between Stellantis (51%) and Leapmotor (49%), has commenced operations to expand its electric vehicle (EV) sales globally. Beginning September 2024, the company will start its European market entry in nine countries, followed by expansions in India, Asia Pacific, Middle East, Africa, and South America by Q4 2024.
The initial launch will feature the T03 and C10 models. The T03 is a competitive A-segment urban EV, boasting a 265 km WLTP range and B-segment interior space. The C10 is a D-segment family vehicle, offering a 420 km WLTP range and a 5-star E-NCAP rating.
In October 2023, Stellantis invested approximately €1.5 billion to acquire a 21% stake in Leapmotor, aiming to leverage Leapmotor's technology and Stellantis' global reach. Leapmotor International aims to establish 200 sales points in Europe by year-end 2024, ramping up to 500 by 2026.
- Leapmotor International's launch in nine European countries starting September 2024.
- Expansion plans into India, Asia Pacific, Middle East, Africa, and South America by Q4 2024.
- Stellantis invested approximately €1.5 billion to acquire a 21% stake in Leapmotor.
- Leapmotor International aims to establish 200 sales points in Europe by the end of 2024, scaling up to 500 by 2026.
- T03 model offers a competitive 265 km WLTP range and B-segment interior space.
- C10 model has a 420 km WLTP range and a 5-star E-NCAP safety rating.
- Leapmotor C10 won the 2024 Gold Award from the French Design Awards.
- Joint venture leverages Stellantis' global network and Leapmotor's advanced technology.
- Potential high competition in European EV market could affect Leapmotor's market penetration.
- Significant capital investment required for setting up 200 sales points by end of 2024.
- Expansion to multiple regions within a year may stretch resources and operational capabilities.
- Dependence on Stellantis’ established channels may limit Leapmotor's independent brand growth.
Insights
Leapmotor International's expansion into nine European countries and subsequent plans for other key regions represents a significant strategic move. Stellantis' investment of
This joint venture aligns with current industry trends towards electrification and sustainability, potentially positioning both companies advantageously in the increasingly competitive EV market. However, the venture's success will partly depend on the acceptance and performance of Leapmotor models in these new markets, which historically have varied consumer preferences. Investors should note the ambitious timeline and consider the potential for logistical and regulatory challenges in diverse regions.
Short-term implications include the initial costs and investments required for establishing operations and distribution channels. Long-term benefits could be significant if Leapmotor successfully establishes itself as a competitive player in these markets, potentially leading to substantial revenue growth.
The entry of Leapmotor into the European market, followed by strategic expansions into India, Asia Pacific, the Middle East and South America, marks an aggressive growth strategy. The choice of initial models – the T03 and C10 – appears well thought-out, catering to urban commuters and family-centric consumers, respectively. The T03's compact size and competitive range (265 km WLTP) alongside the C10's extensive range (420 km WLTP) and 5-star safety rating, position these vehicles favorably against existing competitors.
By leveraging Stellantis' established presence, Leapmotor gains an immediate foothold in these markets. This is particularly important in Europe, where environmental regulations and consumer preferences are increasingly favoring electric vehicles (EVs). The ambitious plan to establish 200 points of sales by the end of 2024, expanding to 500 by 2026, underscores the scale of this expansion.
Potential drawbacks include the variability of market acceptance across different regions and the need for significant marketing and branding efforts to establish Leapmotor as a trusted name outside China. Additionally, the rollout will require overcoming regulatory and logistical challenges unique to each market.
Leapmotor's use of LEAP3.0 technology architecture for the C10 highlights its advanced approach to EV design. This includes central integrated electronic and electrical architecture and cell-to-chassis (CTC) technology, which streamline vehicle design and performance. These technical features could provide Leapmotor a competitive edge in terms of efficiency and vehicle performance.
Furthermore, the C10's 5-star E-NCAP rating is a important selling point, particularly in safety-conscious European markets. The T03's strong performance in the JD Power Initial Quality Study also signals high initial build quality, which is important for customer trust and brand reputation.
However, maintaining this technological edge will require continuous innovation, particularly as the EV market is rapidly evolving with new entrants and technological advancements. The success of these models will depend heavily on their real-world performance and consumer feedback post-launch.
Leapmotor International Begins Operations to Expand Global Electric Vehicle Sales Starting September 2024 in Nine European Countries, Followed by Other Key Growth Regions
- Leapmotor International, a 51/49 Stellantis-led company between Stellantis and Leapmotor, is dedicated to redefining electric vehicles through cutting-edge technology and innovation and boasting comprehensive, in-house development capabilities
- Leapmotor International expansion plans will boost scale very quickly, helping drive value for both Leapmotor and Stellantis
- Leapmotor International to start operations in Europe by September 2024 through 200 points of sales by the end of the year with plans to expand to India & Asia Pacific, Middle East & Africa and South America starting in the fourth quarter
- T03 and C10 models will launch first with at least one new model to be introduced every year in the next three years
- T03 is an urban savvy A-segment competitive electric vehicle featuring 265 km WLTP range with B-segment comparable interior space
- C10 stands as a fully equipped, family-centric D-segment vehicle with best-in-segment premium ride and handling experience, featuring 420 km WLTP range, 5-star E-NCAP
AMSTERDAM, HONG KONG, May 14, 2024 – Stellantis N.V. and Leapmotor today announced that the two companies have received all required authorizations and the formation of Leapmotor International B.V., a 51/49 Stellantis-led joint venture, is now complete. Headquartered in Amsterdam, the management team led by CEO Tianshu Xin, a former Stellantis China executive, are now laying the groundwork for a successful introduction of the T03 and C10 first in the European markets and expanding to India & Asia Pacific (excluding Greater China), Middle East & Africa, and South America starting in the fourth quarter 2024.
In October 2023, the two companies announced a Stellantis investment of ca.
“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. “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. “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.”
Leapmotor International’s EV product offering is considered complementary to Stellantis’ current technology and portfolio of iconic brands and will bring more affordable mobility solutions to global customers. Leveraging Stellantis distribution channels, the launch plan will begin in Europe - France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece, Romania - starting in September 2024 supported by dedicated country managers and 200 points of sales by the end of the year, including Stellantis &You locations, ramping up to 500 by 2026 to ensure a high level of service for customers. In late 2024, the Leapmotor product launch roll-out will expand to the Middle East & Africa (Turkey, Israel and French Overseas), India & Asia Pacific (Australia, New Zealand, Thailand, Malaysia and India), and South America (Brazil and Chile).
About the Leapmotor C10 and T03
The Leapmotor C10 is Leapmotor's first global product, built according to global design and safety standards. The C10 is based on Leapmotor's self-developed LEAP3.0 technology architecture, featuring industry-leading intelligent electric technology such as central integrated electronic and electrical architecture, cell-to-chassis (CTC) technology, and its flagship intelligent cockpit. It is a fully equipped, family-centric D-segment vehicle with best-in-segment premium ride and handling experience, featuring 420 km WLTP range, and a 5-star E-NCAP rating. After winning the "2023 International CMF Design Award" for its technological and natural aesthetic design, it recently won the 2024 Gold Award from the French Design Awards (FDA).
The Leapmotor T03 is a small five-door, A-segment urban boutique commuter car with B-segment interior space. It is not only stylish but also a pleasure to drive and features 265 km WLTP range. It ranked No. 1 in the JD Power Initial Quality Study in the small BEV segment.
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About Leapmotor
Established in 2015, Leapmotor is a technology-driven intelligent electric vehicle (EV) company. The founder Mr. Zhu Jiangming is an electrical engineer who has over 30 years of technical experience. Leapmotor is headquartered in Hangzhou, Zhejiang Province, China, and its business scope covers intelligent electric vehicle design, research and development, manufacturing, intelligent driving, electric motor control, battery system development, as well as cloud computing-based vehicle networking solutions. As a technology-based enterprise, the core components of the Leapmotor are independently developed and manufactured, including electric powertrain and intelligent systems. The proportion of self-developed and self-manufactured parts accounts for
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, with single-digit percentage compensation of the remaining emissions, while creating added value for all stakeholders. For more information, visit www.stellantis.com.
For more information, contact:
Stellantis Communications
Bertrand BLAISE +33 6 33 72 61 86 – bertrand.blaise@stellantis.com
Fernão SILVEIRA +31 6 43 25 43 41 – fernao.silveira@stellantis.com
Chao WANG – chao.wang1@stellantis.com
communications@stellantis.com
www.stellantis.com
Leapmotor Communications
Michael Wu +86 1951 890 1971 – Michael_wu@leapmotor.com
Zhou Ying +86 156 5888 5520 – Zhou_ying@leapmotor.com
pr@leapmotor.com
www.leapmotor.com
STELLANTIS FORWARD-LOOKING STATEMENTS
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This communication contains forward-looking statements. including, without limitation, those regarding our future financial position, our strategy, plans, objectives, goals, targets and future developments in the markets where we participate or are seeking to participate. These forward-looking statements can be identified by terminology such as “will,” “expect,” “anticipate,” “aim,” “future,” “intend,” “plan,” “believe,” “estimate,” “could,” and similar statements. These forward-looking statements are based on some assumptions regarding our present and future business strategies and the environment in which we will operate in the future. These forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. All information provided in this communication is as of the date of this announcement, and the Company does not accept any responsibility or obligation to update any of the forward-looking statements, except as required under applicable laws.
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