► Stellantis has partnered with Leapmotor
► Chinese EV brand launches in Europe
► T03 city car priced from £15,995; C10 SUV from £36,500
Big things are happening at the top of the electric vehicle food chain, as Stellantis’ new value-focused EV brand launches in Europe.
Last year, the motoring juggernaut purchased a chunk of Leapmotor, one of the biggest and now most important Chinese EV start-ups you’ve probably never heard of. That chunk was traded for a cool €1.5 billion (£1.3bn), establishing Stellantis’ goal of developing its EV reach and Leapmotor’s ambition to grow outside of China. Fast forward to May 2024, and the two companies announced a new partnership to bring affordable EVs to Europe with a fresh company – Leapmotor International.
Now, the cars are arriving in Europe. Leapmotor is launching with two new models: the T03 city car and the C10 SUV.
What are the Leapmotor T03 and C10?
The T03 is an electric city car for the A-segment market, with a quoted WLTP range of 165 miles. It’s a baby EV designed to take on the Dacia Spring and Citroen e-C3, with Leapmotor saying the ‘all-in’ price in the UK is £15,995. That makes it £1000 more than a base Spring, or the same price as the Expression 65 model.
The C10, meanwhile, is geared towards being more of a Tesla Model Y rival. It’s the first global product from the brand, already on sale in China as an EV or plug-in hybrid. Here in Europe, the electric-only C10 is priced from £36,500 and quotes a range of 261 miles.
But this is just the start. Leapmotor International has declared its intention to launch at least one new car per year for the next three years, so watch this space for more news from CAR.
So, Leapmotor is a new company?
Leapmotor is a Chinese EV manufacturing firm, set up by electrical engineer Zhu Jiangming in 2015. With an emphasis on in-house development, Leapmotor’s remit covers a raft of different motoring technologies, including EV design, electric motor control and battery development.
The joint venture, Leapmotor International, will be led by Stellantis, but it’ll be a 49/51 partnership between the two firms. Leapmotor International won’t be registered as an official Stellantis brand since the parent company only owns a portion of Leapmotor, but a spokesperson has told us that Stellantis will put ‘the same effort’ into this brand as it does with those that it fully owns.
Both companies are bringing an area of expertise to the table, with a hope they’ll engender a wholly symbiotic relationship and all in the interests of developing a slice of the European EV market for Leapmotor.
‘The partnership between Leapmotor and Stellantis demonstrates a high level of efficiency, opening a new chapter in the global integration of China’s intelligent electric vehicle industry,’ Leapmotor Founder, Chairman and CEO Jiangming Zhu said.
‘Leveraging Leapmotor’s cutting-edge technology and products, along with Stellantis’ support in areas such as overseas channels, services, and marketing, we hope that users around the world can experience the exceptional driving and riding experience brought by Leapmotor products.’
What could this mean for us?
Well, the whole point of the venture is to boost Leapmotor’s EV sales outside of its homeland. The Chinese start-up has said that its cars should be heading for Europe by September 2024, with a goal to expand its supply chain globally by the end of the year.
Leapmotor, with its command of scaled-up EV production and the technology involved in making them run, will supplement Stellantis’ EV roster in Europe. The partnership could dramatically lower the upfront costs of EVs in the region, potentially to the point of cost parity with other mass-scale Chinese-built EVs for end-users. Stellantis, meanwhile, with its established foothold in the European markets and strong brand line-up, has the armament to make sure the cars sell.
‘The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models that will compete with existing Chinese brands in key markets around the world,’ Stellantis CEO Carlos Tavares said.
‘Leveraging our existing global presence, we will soon be able to offer our customers price competitive and tech-centric electric vehicles that will exceed their expectations.’