Key Takeaways:
- Stellantis and Leapmotor to deepen their strategic EV partnership.
- Joint venture sold over 40,000 cars in Europe during 2025.
- Partnership to use Leapmotor parts for a new Opel C-SUV in Spain.
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Stellantis and Leapmotor deepen EV partnership with 40,000 sales
Stellantis NV and Zhejiang Leapmotor Technology are expanding their strategic partnership to increase the production of affordable electric vehicles in Europe, building on the early success of a joint venture that has shipped over 40,000 cars in the region.
"This plan to expand our successful partnership with Leapmotor – a trusted peer and one of the fastest-growing, most respected new energy vehicle producers globally – is a true win-win for both of us," Antonio Filosa, Stellantis CEO, said. "It is expected to support production and advance localization in Europe of world-class manufacturing of electric vehicles at affordable prices."
The partnership, Leapmotor International (LPMI), was formed after Stellantis acquired a 21% stake in Leapmotor in October 2023, creating a 51/49 joint venture led by Stellantis. Since launching the Leapmotor T03 and C10 models in 2024, the venture has grown to over 850 points of sale in Europe and expanded to South America, Asia-Pacific, and the Middle East. The aggressive push includes a German lease offer for the T03 city car at just €49 ($58) a month.
The expanded cooperation will use Leapmotor-sourced components for a new Opel C-SUV to be manufactured at Stellantis's plant in Figueruelas, Spain, a move designed to enhance affordability for European customers. The partners are also exploring adding new Leapmotor models, including the B10, to Stellantis's Villaverde plant near Madrid starting in 2028, potentially transferring the site's ownership to the joint venture.
Deeper Integration for European Market
The move signals a deeper integration of the two automakers as they combat intense competition in the European EV market. By using Leapmotor's cost-competitive components, Stellantis aims to produce more affordable electric models for its own brands, such as Opel. The Figueruelas plant, which has produced over 10 million Opel Corsa cars since 1982, will be central to this new strategy.
"Leapmotor’s leading-edge technologies, combined with Stellantis’ global reach, deep regional roots and much-loved automotive brands, would make this a uniquely powerful partnership," said Zhu Jiangming, Leapmotor founder and CEO.
A Model for China-Europe Collaboration
The Stellantis-Leapmotor venture stands as a significant example of collaboration between a legacy Western automaker and a Chinese EV startup. While Stellantis gains access to competitive EV technology and platforms, Leapmotor gains immediate access to a vast global manufacturing and distribution network. This allows both to counter rivals and navigate a complex market shaped by price wars and shifting consumer subsidies. The success of the T03, which competes with Stellantis's own Fiat 500, shows the venture's potential to capture the budget-conscious segment of the market. The definitive agreements are subject to customary approvals.
This article is for informational purposes only and does not constitute investment advice.
[1] Stellantis And Leapmotor Announce Their Intention To Take Their Strategic Partnership To The Next Level[2] Stellantis , China's Leapmotor plan to expand EV partnership, boost European production[3] China’s Leapmotor Expands in Germany With EV Costing €49 a Month[4] Stellantis , China's Leapmotor plan to expand EV partnership, boost European production - Reuters
