A bold strategic move has been unveiled as Stellantis commits 1.5 billion euros to acquire a 21 percent stake in Leapmotor, a Chinese electric vehicle maker. This investment signals a clear push to broaden Stellantis’ electric vehicle portfolio across key markets. A European joint venture will bring Leapmotor models to the continent, with Stellantis holding a controlling 51 percent stake. The first Leapmotor model expected in Europe is the Jump Engine C10an electric SUV, and early market interest is building ahead of the rollout. Leapmotor reports rising activity and a growing backlog, suggesting that affordable electric mobility is gaining traction as diverse markets wake up to Leapmotor’s value proposition. The anticipated price for the European entry model points toward a sub-€20,000 entry when exchange rates are considered, underscoring Leapmotor’s aim to compete on value where total ownership costs and charging infrastructure are essential considerations.
Leapmotor has outlined a European lineup featuring two electric variants across six trims. The range includes a pure battery electric option and a version equipped with an extended-range electric powertrain that can recharge the battery via a small onboard internal combustion engine when stationary. The base version is priced around 151,800 yuan, translating to roughly €19,300 at current exchange rates. This pricing signals a strategy focused on delivering strong value in markets where price sensitivity remains a primary driver for broad adoption of new electric mobility solutions.
The roadmap targets the European market for a summer delivery, aligned with a broader rollout plan. Stellantis appears ready to assume a majority role in the joint venture by mid-year, with ongoing discussions extending through the summer. Leapmotor leadership notes Spain as among the first ten European countries slated to receive the vehicle, signaling intent to establish a meaningful foothold across the region. This move aligns with Stellantis’ broader plan to diversify its electric vehicle portfolio through international partnerships, while leveraging Leapmotor’s technology and manufacturing capabilities to speed entry into major Western markets. North America, including Canada and the United States, is viewed as a key growth arena for compact, affordable electric SUVs as consumer interest remains robust.
Momentum is evident as Leapmotor closed 2023 with solid traction, delivering 144,155 electric vehicles for the year. The company showed steady growth, culminating in a December performance that set a market record with 18,618 EV sales. This trajectory demonstrates Leapmotor’s capacity to scale production and meet rising demand while coordinating with a multinational partner to introduce new models to a European audience and expand its footprint in other major markets. The collaboration with Stellantis marks a notable alignment of manufacturing strength, distribution networks, and regional market insight. The partnership is expected to unlock additional revenue streams and broaden the reach of both brands across North America, including Canada and the United States, where demand for compact, affordable electric SUVs continues to grow. Observers will watch how integrating Leapmotor’s platform with Stellantis’ regional operations could influence pricing, after-sales support, and service availability in North American markets as charging infrastructure and consumer expectations for EVs evolve quickly.