Stellantis Makes Strategic Investment In Leapmotor, Reveals Affordable EV For Europe

  • 📰 cleantechnica
  • ⏱ Reading Time:
  • 88 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 38%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Stellantis plans to invest €1.5 billion to acquire approximately 20% of Leapmotor, making Stellantis a significant shareholder.

The deal also outlines the formation of Leapmotor International, a 51/49 Stellantis-led joint venture that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China. Stellantis says this will be an industry-first global electric vehicle relationship between a leading automaker and a Chinese pure-play New Energy Vehicle OEM.

Leapmotor is a company I have been following for quite a while. It has the small T03 hatchback that proved to be quite popular in China in its segment. It was also exported to some markets outside China. Leapmotor has since added more models and some hybrids in a bid to boost sales and broaden its portfolio.

Stellantis says, “The all-electric ë-C3 proudly heads up the fourth-generation line-up of Citroën’s most popular car, which has sold more than 5.6 million units since the launch of the first generation in 2002. The C3 is being the brand’s most popular model and representing 29 percent of Citroën’s European sales volume. In 2022, the C3 captured 11 percent overall of the European B-segment market. Significantly, the all-new ë-C3 signals a new chapter for Citroën.

And the price looks good. Stellantis says, “For the first time in Europe, Citroën has engineered the all-new Citroën ë-C3 around a platform designed from the outset to accommodate an all-electric powertrain. Underpinning the car is a version of the highly flexible global Stellantis ‘Smart Car’ platform, and this has enabled Citroën to make the all-new ë-C3 accessible to customers at prices starting from 23,300 Euros.

This all-new 320km range model will be joined towards 2025 by a 200 km range version, allowing the all-new Citroën ë-C3 to be even more affordable, at €19,990. The ë-C3 is built at the Trnava plant in Slovakia.I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 565. in BUSİNESS

Business Business Latest News, Business Business Headlines