Stellantis And Leapmotor Partnership To Reach A Higher Level

The company Stellantis NV (“Stellantis”) has announced that with the company Zhejiang Leapmotor Technology Co., Ltd (“Leapmotor”) are exploring expanding their strategic partnership through a series of initiatives designed to build on their early collaboration.

In October 2023, Stellantis became the largest shareholder of Leapmotor by acquiring an approximately 21% stake. At the same time, Leapmotor International (“LPMI”) was launched as a joint venture of Stellantis / Leapmotor with 51% equity and 49% equity, with exclusive rights to sell and manufacture Leapmotor products outside of Greater China. LPMI’s business has experienced a successful trajectory in Europe over the past 18 months. Since the launch of the T03 and C10 in 2024, LPMI has expanded its presence in the region to more than 850 sales and service points, with more than 40,000 shipments in Europe in 2025. In 2025, LPMI expanded its activities to South America, the Asia-Pacific region, the Middle East and Africa and launched the brand in April 2026 in Mexico.

Stellantis and Leapmotor intend to deepen and expand their cooperation as follows:

First, in an effort to significantly increase production at Stellantis’ plant in Figueruelas, Zaragoza, Spain, the parties are evaluating the addition of a new production line for Opel’s all-new C-SUV BEV, and the timeline is under evaluation, including a potential production start in 2028. This would be in addition to the current Peugeot 208 and Lancia Ypsilon production in Figueruelas. Leapmotor would also bring production of its C-SUV B10 to the plant, potentially starting as early as 2026.

As part of Stellantis’ strategy to drive growth in the European battery electric vehicle market, the new Opel C-SUV being considered for production in Figueruelas – a long-standing Opel factory that has produced more than 10 million Opel Corsas since 1982 – would also benefit from highly competitive LPMI components, significantly improving affordability for European customers.

Second, Stellantis and Leapmotor would also collaborate on acquisitions through LPMI, taking advantage of their significant combined scale and strength. The goal would be to increase price competitiveness by using the Chinese ecosystem of new energy vehicles, while at the same time using the capacity of the European supply chain to strengthen resilience and accelerate the time to market of new models.

Finally, in an effort to significantly strengthen the future of the factory in Villaverde, Madrid, the planned expansion may include the award of a new Leapmotor vehicle, including a potential time from the first half of 2028. This would be of particular importance given the planned end of Citroen C4 production at this plant. At the same time, ownership of the factory is under consideration for a potential transfer to LPMI’s Spanish subsidiary. Production in Villaverde would comply with the upcoming “Made in Europe” requirements, and the vehicles would be commercialized by LPMI in the European, Middle East and Africa (MEA) markets.

The parties are currently progressing feasibility studies and pre-development work under existing arrangements and are continuing to discuss potential broader industry collaboration as described herein, subject to final agreements being signed and customary approvals obtained.

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