Stellantis Makes Strategic Investment in Chinese EV Firm Leapmotor

Stellantis, the parent company of Chrysler, is acquiring a 21% stake in Chinese electric vehicle (EV) maker Leapmotor for $1.6 billion as part of its new strategy to focus on EVs in China. The deal includes the formation of a joint venture, giving Stellantis exclusive rights to export, sell, and manufacture Leapmotor products outside of Greater China. This partnership reflects China's emergence as a global center for EV technology. However, some analysts are skeptical that such minority-stake partnerships will help foreign auto brands revive their declining fortunes in China. Stellantis has struggled to sell cars in China and hopes this partnership will give it a crucial foothold in the Chinese market.