Stellantis has invested 1.5 billion euros (approximately $1.58 billion) in Chinese electric vehicle company Leapmotor, hoping to expand global sales through a joint venture between the two parties.
Stellantis, headquartered in the Netherlands, currently holds a 20% stake in Zero Motor. The two companies plan to establish a joint venture, Leapmotor International, focusing on exporting and selling Leapmotor car products in markets outside of Greater China.
Stellantis stated that it is expected that the joint venture will start shipping globally in the second half of 2024.
Stellantis will hold a majority stake in Zero Run International and will appoint the CEO of Zero Run International. Stellantis will also hold two seats on the board of directors of Zero Motor.