Stellantis’ $1.6bn Investment in Leapmotor

Stellantis’ $1.6bn Investment in Leapmotor

Stellantis, a multinational automotive manufacturing corporation, is investing $1.6 billion to acquire a 21% stake in Chinese electric vehicle (EV) manufacturer Leapmotor. This move allows Stellantis to gain access to the Chinese automotive sector and update its manufacturing tools. China aims to have 25% of its auto sales accounted for by neighborhood electric vehicles (NEVs) by 2025. Chinese EV manufacturers like BYD benefit from domestic battery production and government subsidies.