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. €1.5 billion to acquire approximately
21% equity in Leapmotor, an automotive company ranked in the top 3
Chinese EV startup brands in 2023. The deal also outlined the
formation of Leapmotor International, which would have exclusive
rights for the export and sale, as well as manufacturing, of
Leapmotor products outside Greater China. The partnership aims to
further boost Leapmotor’s sales in China, the biggest market in the
world, while leveraging Stellantis’ established global commercial
presence to significantly accelerate Leapmotor brand sales in other
regions.
“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.
# # #
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 60% of the total vehicle cost and has
successively launched leading intelligent electric technologies
such as the industry's first Eight-in-One Electric Drive System,
the industry's first mass-produced Cell-to-Chassis technology, and
the industry's first “Four-Domain-in-One Central Integrated E/E
Architecture”. Leapmotor adheres to a customer-centric value
proposition, with products on sale including C10, C11, C01, T03,
offering pure electric and extended range dual power options. In
2023, Stellantis invested in Leapmotor. In early May 2024,
Stellantis and Leapmotor formed a joint venture called Leapmotor
International B.V. to explore the international market.
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
This communication contains forward-looking
statements. In particular, statements regarding future events and
anticipated results of operations, business strategies, the
anticipated benefits of the proposed transaction, future financial
and operating results, the anticipated closing date for the
proposed transaction and other anticipated aspects of our
operations or operating results are forward-looking statements.
These statements may include terms such as “may”, “will”, “expect”,
“could”, “should”, “intend”, “estimate”, “anticipate”, “believe”,
“remain”, “on track”, “design”, “target”, “objective”, “goal”,
“forecast”, “projection”, “outlook”, “prospects”, “plan”, or
similar terms. Forward-looking statements are not guarantees of
future performance. Rather, they are based on Stellantis’ current
state of knowledge, future expectations and projections about
future events and are by their nature, subject to inherent risks
and uncertainties. They relate to events and depend on
circumstances that may or may not occur or exist in the future and,
as such, undue reliance should not be placed on them.
Actual results may differ materially from those
expressed in forward-looking statements as a result of a variety of
factors, including: the ability of Stellantis to launch new
products successfully and to maintain vehicle shipment volumes;
changes in the global financial markets, general economic
environment and changes in demand for automotive products, which is
subject to cyclicality; Stellantis’ ability to successfully manage
the industry-wide transition from internal combustion engines to
full electrification; Stellantis’ ability to offer innovative,
attractive products and to develop, manufacture and sell vehicles
with advanced features including enhanced electrification,
connectivity and autonomous-driving characteristics; Stellantis’
ability to produce or procure electric batteries with competitive
performance, cost and at required volumes; Stellantis’ ability to
successfully launch new businesses and integrate acquisitions; a
significant malfunction, disruption or security breach compromising
information technology systems or the electronic control systems
contained in Stellantis’ vehicles; exchange rate fluctuations,
interest rate changes, credit risk and other market risks;
increases in costs, disruptions of supply or shortages of raw
materials, parts, components and systems used in Stellantis’
vehicles; changes in local economic and political conditions;
changes in trade policy, the imposition of global and regional
tariffs or tariffs targeted to the automotive industry, the
enactment of tax reforms or other changes in tax laws and
regulations; the level of governmental economic incentives
available to support the adoption of battery electric vehicles; the
impact of increasingly stringent regulations regarding fuel
efficiency requirements and reduced greenhouse gas and tailpipe
emissions; various types of claims, lawsuits, governmental
investigations and other contingencies, including product liability
and warranty claims and environmental claims, investigations and
lawsuits; material operating expenditures in relation to compliance
with environmental, health and safety regulations; the level of
competition in the automotive industry, which may increase due to
consolidation and new entrants; Stellantis’ ability to attract and
retain experienced management and employees; exposure to shortfalls
in the funding of Stellantis’ defined benefit pension plans;
Stellantis’ ability to provide or arrange for access to adequate
financing for dealers and retail customers and associated risks
related to the operations of financial services companies;
Stellantis’ ability to access funding to execute its business plan;
Stellantis’ ability to realize anticipated benefits from joint
venture arrangements; disruptions arising from political, social
and economic instability; risks associated with Stellantis’
relationships with employees, dealers and suppliers; Stellantis’
ability to maintain effective internal controls over financial
reporting; developments in labor and industrial relations and
developments in applicable labor laws; earthquakes or other
disasters; risks and other items described in Stellantis’ Annual
Report on Form 20-F for the year ended December 31, 2023 and
Current Reports on Form 6-K and amendments thereto filed with the
SEC; and other risks and uncertainties.
Any forward-looking statements contained in this
communication speak only as of the date of this document and
Stellantis disclaims any obligation to update or revise publicly
forward-looking statements. Further information concerning
Stellantis and its businesses, including factors that could
materially affect Stellantis’ financial results, is included in
Stellantis’ reports and filings with the U.S. Securities and
Exchange Commission and AFM.
LEAPMOTOR FORWARD-LOOKING
STATEMENTS
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.
- EN-20240514-Leapmotor-International-Unveiled 3