Stellantis: plans to buy a fifth of Leapmotor for E1.5bn
(CercleFinance.com) - Yesterday, Stellantis announced the signature of a strategic partnership with Leapmotor, an electric car company based in China.
Stellantis plans to spend nearly E1.5bn to acquire around 20% of Leapmotor,
The agreement also covers the creation of a 51/49 Stellantis-managed joint venture, "Leapmotor International", which will have exclusive rights to manufacture, export and sell Leapmotor products outside China.
This will be the first international partnership of its kind in the electric vehicle market between one of the world's leading car makers and a new-generation Chinese car maker, Stellantis says.
The joint venture plans to start deliveries in H2 2024.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Stellantis plans to spend nearly E1.5bn to acquire around 20% of Leapmotor,
The agreement also covers the creation of a 51/49 Stellantis-managed joint venture, "Leapmotor International", which will have exclusive rights to manufacture, export and sell Leapmotor products outside China.
This will be the first international partnership of its kind in the electric vehicle market between one of the world's leading car makers and a new-generation Chinese car maker, Stellantis says.
The joint venture plans to start deliveries in H2 2024.
Copyright (c) 2023 CercleFinance.com. All rights reserved.