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Leapmotor

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business2 years ago•3 min saved

Stellantis Secures $1.6 Billion Investment in Chinese EV Startup Leapmotor

Stellantis, the parent company of brands like Jeep and Dodge, has announced a $1.6 billion investment in Chinese electric vehicle (EV) startup Leapmotor. The investment will establish the Leapmotor International joint venture, with Stellantis holding a majority 51% interest. The move aims to boost sales of Leapmotor's EVs overseas and help Stellantis gain a stronger foothold in the competitive Chinese EV market. Stellantis currently holds just a 0.3% market share in China. The deal will provide Stellantis with access to Leapmotor's technology and manufacturing capabilities, while Leapmotor can leverage Stellantis' network to expand its presence in Europe. However, previous partnerships between traditional automakers and Chinese companies have faced challenges, casting some doubt on the success of this investment.

via CNBC|

#business #chinese-ev-market #electric-vehicles

business2 years ago•3 min saved

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.

via Reuters|

#business #china #ev

automotive-technology2 years ago•2 min saved

Leapmotor Introduces Revolutionary Manufacturing Platform, Encourages Industry Adoption

Chinese electric vehicle maker Leapmotor has unveiled a new manufacturing platform called "Four Leaf Clover" that integrates an advanced computing platform capable of controlling all intelligent functions, including autonomous driving and smart cockpit features. Leapmotor aims to license this platform to other automakers and is currently in talks with two foreign companies for potential partnerships. The company expects the platform to reduce materials costs per car by 500 yuan ($70) and plans to launch an improved version in 2025. Leapmotor, along with other Chinese EV startups, has faced challenges due to competition from Tesla, but its focus on R&D investment and innovative technology has attracted tech-savvy Chinese consumers.

via Reuters|

#automotive-technology #autonomous-driving #electric-vehicles