Stellantis acquires Leapmotor to enhance electric vehicle offerings

Stellantis is facing significant challenges, including a 70% profit drop in 2024 and the resignation of CEO Carlos Tavares. To address these issues, Stellantis has acquired a majority stake in Leapmotor, a Chinese electric vehicle company, to enhance its electric vehicle offerings. Leapmotor's entry into the Stellantis portfolio aims to provide competitive pricing and advanced technology. The T03 hatchback, priced at £15,995, offers features that surpass competitors like the Dacia Spring, while the C10 SUV includes premium features at a competitive price point. Stellantis plans to produce some Leapmotor models in Europe, including the T03 in Poland and the upcoming B10 in Slovakia and Germany. This strategy aims to strengthen Stellantis' position in the increasingly competitive European electric vehicle market, particularly against rising Chinese brands.