Stellantis Group will invest 1.5 billion euros to acquire approximately 20% of Leapmotor and become its strategic shareholder

According to news from this site on October 26, this site learned from the official public account of Leapmotor that Stellantis N.V. (hereinafter referred to as "Stellantis Group") and Zhejiang Leapao Technology Co., Ltd. (hereinafter referred to as "Stellantis Group") "Leapmotor") announced today: Stellantis Group plans to invest approximately 1.5 billion euros to acquire approximately 20% of the equity of Leapmotor, which will make Stellantis Group an important shareholder of Leapmotor.

This transaction also confirmed that Stellantis Group and Leapmotor Motors will establish a joint venture company called "Leapmotor International" with a ratio of 51%:49%. With the exception of Greater China, the joint venture has the exclusive right to export and sell to all other markets around the world, as well as the exclusive right to manufacture Leap Auto products locally. The establishment of a global partnership between the two parties will be the first of its kind in the industry, with a world-leading automaker collaborating on a global electric vehicle project with a new electric vehicle company from China.

(Left: Carlos Tavares, global CEO of Stellantis Group, right: Zhu Jiangming, founder, chairman and CEO of Leapmotor Technology)

Leapmotor said that this partnership will not only focus on further increasing Leapmotor’s sales in China, the world’s largest automobile market, but will also rely on Stellantis Group’s mature business layout in other markets around the world to vigorously enhance the sales of Leapmotor. To increase the sales of car brands in local markets, this will start with the European market. Stellantis Group intends to leverage Leapmotor’s highly innovative and cost-effective electric vehicle ecosystem to help Stellantis achieve the electrification goals in the “Dare Forward 2030” strategic plan. At the same time, the two parties may also further explore mutually beneficial opportunities. Synergy. It is expected that the "Leapout International" joint venture will start export business in the second half of 2024.

Both parties believe that Leapmotor’s electric vehicle products complement Stellantis Group’s existing technology and brand product portfolio, and they will bring more cost-effective travel solutions to global customers. Stellantis Group will have 2 seats on the board of directors of Leapmotor, and the Stellantis Group will appoint the CEO of the "Leapmo International" joint venture.

Leapmotor will deliver 111,000 new energy vehicles in 2022, becoming the first echelon of new car-making forces in China. Officials said that in the next three years, Leapmotor will build A- to E-class “pure electric, extended-range dual-power” smart cars based on one technical architecture and three vehicle platforms.

Leapmotor is the world's first new energy vehicle company to adopt CTC battery-chassis integration technology in mass-produced models. The "Four-Leaf Clover" centralized electronic and electrical architecture launched this year has realized smart electric vehicles. Seamless and efficient collaboration between core components. Thanks to Leapmotor's global self-research and vertical integration capabilities, the company can quickly launch competitive products that adapt to market changes to the greatest extent possible.

The Stellantis Group was formed in early 2021 from the merger of two former PSA Groups, Peugeot Citroën and Fiat Chrysler, each with a history of more than a century. The Stellantis Group currently has 14 iconic car brands and 2 mobility service units, with the goal of providing environmentally friendly, safe and cost-effective freedom of mobility to everyone. Currently, the group has customers in more than 130 countries around the world and has manufacturing operations in more than 30 countries. In 2022, the Stellantis Group sold more than 6 million vehicles worldwide, achieving net revenue of 179.6 billion euros and net profit of 16.8 billion euros. In the first half of 2023, the Stellantis Group achieved net revenue of 98.4 billion euros and net profit of 10.9 billion euros, and continues to be one of the most profitable companies in the global automotive industry with its adjusted operating profit margin of 14.4%.

In the next ten years, Stellantis Group will invest more than 50 billion euros in electrification to achieve its electrification goals in the "Dare Forward 2030" strategic plan: that is, by 2030, all the cars sold by the Group in Europe All passenger cars are pure electric vehicles, and 50% of passenger cars and light trucks sold in the United States are pure electric vehicles. To achieve the above sales targets, Stellantis Group will secure approximately 400GWh of battery capacity reserves, including battery production capacity support from its six battery manufacturing plants in Europe and North America. Stellantis Group plans to become a net-zero carbon emissions company by 2038, with only a single-digit percentage of the Group's carbon emissions requiring carbon offsets when all its direct and indirect carbon emissions are included. In addition to the strategic cooperation announced this time with Leapmotor, Stellantis Group will continue to be committed to implementing its asset-light business model in China for its brands in China.

The final completion of the transaction will be subject to customary closing conditions, including regulatory approvals.

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