Leapmotor and Stellantis JV to launch EVs in India by end of 2024
Leapmotor, a Chinese electric vehicle (EV) manufacturer, will join the Indian market, introducing its first car in the country in the fourth quarter of 2024-25. European auto giant Stellantis has entered into a Joint Venture (JV) with Leapmotor International and promise to bring affordable EVs to India with the help of their latest technology.
This will be the third Chinese brand to enter India's EV market, following SAIC's MG and BYD. After gaining all necessary authorizations, both brands formed a global joint venture, Leapmotor International BV, a 51:49 JV run by Stellantis.
Leapmotor will penetrate nine European nations in its first phase, beginning in September 2024, including Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain, and Portugal. The brand will be marketed in 200 dealerships around the region.
The second stage will focus on the South American markets of Brazil and Chile, West Asia, Africa, India, and the Asia-Pacific region, where Leapmotor EVs will be launched in the third quarter of 2024-25.
The first models to arrive from this new joint venture will be the T03 (hatchback) and C10 (SUV). The JV further plans to bring an additional 4 cars by 2027 including 2 more hatchbacks and 2 SUVs.
The T03, Leapmotor's latest offering, boasts an NEDC range of 403km with its 36.5kWh battery pack. Featuring Level 2 Advanced Driver Assistance Systems (ADAS), this EV offers fast charging capabilities, enabling it to charge from 30 per cent to 80 per cent in just over 20 minutes.
Leapmotor Founder, Chairman and CEO Jiangming Zhu said, "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. 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."
In late 2023, Leapmotor announced a strategic partnership with Stellantis, wherein Stellantis would invest 1.5 billion euros ($1.58 billion) to acquire a 20 per cent stake in Leapmotor, securing two seats on the company's board of directors.
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