On November 1st, Stellantis Group announced a management personnel adjustment. Gr é goire Olivier, former Chief Operating Officer of Stellantis Group in China, served as the General Manager and Executive Vice President of the Stellantis Group Zero Run Technology Strategic Alliance Office, and reported to Carlos Tavares, Global CEO of Stellantis Group.
Stellantis Group stated that Olivier will ensure the efficient promotion and execution of the strategic partnership between the group and Zero Run Automobile, including the establishment of a joint venture for sales between the two parties, as well as the coordination of Zero Run Automobile's use of Stellantis Group's global distribution channels and other projects.
Douglas Ostermann will take over from Olivier as the Chief Operating Officer of Stellantis Group in China and report to Tang Weishi. Previously, Douglas served as the Chief Financial Officer of Stellantis Group in China and Senior Vice President of Strategic Planning for the Chinese market.
In addition, Olivier and Douglas will serve as directors of Zero Run Technology Co., Ltd.
Tang Weishi stated: To ensure the perfect execution of our recently announced Zero Run Automotive strategic cooperation project and the continued expansion of the group's other businesses in China, we have decided to adjust the group's management structure in China. We will rely on these two experienced senior management personnel to enhance the overall business performance of the group in China. Olivier and Douglas have worked closely in the past two years to create a new strategy for Stellantis Group in China and provide us with The development of the business has opened up new paths, and I believe they will inject new impetus into their respective new roles
On October 26th, Stellantis Group and Zero Motor reached a strategic cooperation agreement, with the former investing approximately 1.5 billion euros (approximately 11.6 billion yuan) to acquire approximately 20% of Zero Motor's equity. After the cooperation is reached, the size of the board of directors of Zero Run Motors will expand to 9 people, with Stellantis Group occupying 2 board seats and Zero Run Motors occupying 7 seats.
In addition, in the cooperation between the two parties, Stellantis Group will also establish a joint venture with Leapmotor International, with a 51% to 49% stake ratio, with Stellantis Group appointing the CEO. The products sold by the company will adopt the Zero Run brand. In overseas sales, Stellantis Group will utilize its existing layout to help Zero Run Motors have more distribution networks and marketing measures overseas, thereby accelerating Zero Run's overseas expansion.
In an interview with First Financial reporters, Wu Qiang, Co President of Zero Run Automobile, stated that Zero Run International will be registered and established in Europe, and will serve as the exclusive controller and entity for business, sales, and service overseas. It is expected to start delivering products in overseas markets by the middle of next year. However, this entity is limited to cars under the Zero Run brand and does not involve any fuel and electric vehicles from 14 fuel brands under the Stellantis Group.
The resources and scale of Zero Run are limited, and we cannot invest resources on a large scale overseas. We pay more attention to the input-output ratio, "said Wu Qiang. Zero Run Automobile can rely on Stellantis Group's ability to cover and recognize the products of Zero Run brand, and the joint venture company needs to exclusively operate the sales, service, and promotion functions of Zero Run brand overseas.
It is reported that Zero Run International will be the first to launch the C10 model in overseas markets, which will be released at this year's Munich Auto Show; In addition, the A-class car being developed by Zero Run Automobile will also appear in overseas markets, and this car may become Zero Run Automobile's flagship model in Europe.
Wu Qiang stated that in 2024, Zero Run International will first launch 2-3 products overseas. By 2025-2026, the product matrix for overseas sales will reach 10-11, but no specific national or regional market has been determined yet.