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Stellantis and Leapmotor, Shiped 1st Batch of EVs to Europe
Leapmotor holds the 4th position between top competitors in China's rapidly growing NEV market, after Zeekr, Nio and Li Auto at 1st.
Dew Briefs:
On February 25, 2022, Leapmotor revealed details about its new C01 model, a flagship electric sedan and the first to feature CTC battery technology. The C01 can accelerate from 0 to 100 km/h in under 4 seconds, is over 5 meters long, and has a 700 km range. After its European shipment in July 2024, Leapmotor International plans to expand to the Middle East, Africa, Asia Pacific, and South America by the end of 2024.
Leapmotor in Chinese Markets hold 4th Position
Leapmotor, the new energy vehicle (NEV) startup is the 4th largest Chinese automaker in China as per sales in June 2024, plans to increase its European sales points from 200 in 2024 to 500 by 2026. The partnership aims to introduce one new model annually over the next three years, focusing on innovation and sustainability with new technique or best E-NCAP rating standard in electric mobility.
Stellantis Rank move up in Fortune Global 500 list
In the recently released Fortune Global 500 list for 2024, Stellantis made notable progress, move up from No. 31 last year to No. 28 in overall revenue rankings, overtaking the previous position held by the Industrial & Commercial Bank of China. Among automakers and parts companies, Stellantis ranked 3rd, with impressive revenues of $204.9 billion.
In Profit earning Stellantis move up to 2nd spots from 3rd previous position among the Motor Vehicles & Parts companies. This marks a significant achievement for Stellantis in the global market and its open the doors for the future shipment to worldwide NEVs market.
Joint venture in Europe
Stellantis and Leapmotor International, a joint venture, have shipped their first batch of Leapmotor electric vehicles, including the C10 SUVs and T03 cars, from Shanghai to Europe. This milestone marks the beginning of their efforts to expand in the European EV market, leveraging Stellantis’ distribution channels.
The ownership structure of the joint venture or partnership, where Stellantis owns 51% of the company, giving them majority control, while Leapmotor owns the remaining 49%. So, Stellantis may have control over the decisions and direction of the joint venture. LeapMotor is leveraging Stellantis’ established network of dealerships, logistics and sales infrastructure across Europe to distribute its electric vehicles (EVs).
“The shipment of Leapmotor C10 and T03 vehicles to Europe this month is a landmark moment in the partnership between Stellantis and Leapmotor,”
Carlos Tavares, CEO, Stellantis
C10 and T03 NEVs with New Technology
C10, Leapmotor’s first global product, designed to meet international standards. Built on Leapmotor’s LEAP3.0 technology architecture, featuring advanced intelligent electric technologies which equipped with central integrated electronic and electrical architecture, cell-to-chassis (CTC) technology.
Family-oriented D-segment vehicle with a premium ride, 420 km WLTP range, and 5-star E-NCAP safety rating potential. Won multiple design awards, including the 2024 Gold Awards from the French Design Awards and the US MUSE Design Awards.
Leapmotor T03, A stylish, small five-door A-segment urban commuter car with B-segment interior space. Features a 265 km WLTP range, offering both style and driving pleasure. Ranked No. 1 in the J.D. Power Initial Quality Study in the small BEV segment.
Expanding Markets by Leapmotor
Not only this, it is expanding its market presence by reaching customers more efficiently and effectively by using Stellantis’ extensive and well-developed channels, and it is also trying to ensure that its vehicles are available in more locations with strong customer support. This partnership is helping LeapMotor to accelerate its entry into the European market by relying on Stellantis’ existing resources and expertise in vehicle distribution and offer a range of pure EVs and extended range dual-power vehicles like C16, C11, C01 and both Europe shipped cars.
Diver Insights:
Leapmotor holds the fourth position, making it one of the top competitors in China’s rapidly growing NEV market, after the top Three Chinese NEVs startup by sales. Li Auto at 1st position which leading the market with 47,800 units sold in June 2024 and just after the Nio at second with 21,200 units sold. Thereafter Zeekr close behind Nio, with 20,100 units sold.
These rankings reflect the strong competition among China’s emerging NEV companies, with each striving to expand its market share and innovate in the electric vehicle space.
