On October 26th, Zero Motor announced that Stellantis Group would invest 1.5 billion euros to acquire approximately 20% equity in Zero Motor and become its strategic shareholder. Stellantis Group will have 2 seats on the board of directors of Zero Motor, and will appoint the CEO of the "Zero International" joint venture company by Stellantis Group. At the same time, both parties will also establish a joint venture called "Leapmotor International" with a ratio of 51% to 49%.
It is reported that except for the Greater China region, Zero Run International Joint Venture has the exclusive right to export and sell to all other markets around the world, as well as the exclusive right to manufacture Zero Run automotive products locally.
On the same day, Dahua Holdings also announced that it plans to transfer its 7.88% stake in Zero Motor to Stellantis for HKD 3.493 billion, with a trading price of HKD 38.81 per share, slightly higher than the closing price of Zero Motor Hong Kong shares on the 25th, which is HKD 36.8 per share. After the completion of this transaction, Dahua Group will no longer hold shares in Zero Run Automobile.
Both sides stated that the establishment of a global partnership between the two sides will be an industry initiative, where a world leading automaker and a new power electric vehicle enterprise from China have collaborated on global electric vehicle projects. The two sides also believe that this cooperation can complement each other's existing technology and brand product portfolio, bringing more cost-effective travel solutions to global customers. Tang Weishi, the global CEO of Stellantis Group, also spoke and stated that with the integration of strong electric vehicle startups in the Chinese market, a few efficient and flexible electric vehicle new power enterprises such as Zero Run Automobile will occupy the mainstream segment of the Chinese electric vehicle market, and this trend is becoming increasingly evident. It is believed that in the global expansion plan of Zero Run Automobile, now is the best time for Stellantis Group to support it and assume a leading role. Zhu Jiangming, the founder of Zero Run Automobile, expressed his belief that the strong alliance formed in the rapidly changing market environment will bring a mutually beneficial and win-win partnership to both parties. Together with Stellantis Group, we will continue to innovate in the fields of technology and business collaboration, and sell Zero Run products worldwide.
The reporter noticed that with the "overtaking" of Chinese car companies in technologies such as intelligence and new energy, they have become the exporter of technology and are known as "reverse joint ventures".
In July of this year, Volkswagen invested 5 billion yuan in Xiaopeng Automobile, acquired about 4.99% of Xiaopeng Automobile's shares, and obtained an observer seat on Xiaopeng Automobile's board of directors. Both parties will collaborate to develop two electric models under the Volkswagen brand, with plans to launch them in 2026.
The goal of this collaboration between Zero Run Motors and Stellantis Group is to sell its products globally. However, from the perspective of bilateral cooperation, Stellantis Group may lead Zero Run's overseas business. It is reported that Stellantis Group is formed by the merger of two century old automobile manufacturing trademarks, PSA and FCA, and owns multiple well-known automobile brands such as Peugeot, Citroen, DS, Opel, Fiat, Chrysler, Alpha Romeo, Jeep, and Maserati. In recent years, several brands of Stellantis Group have experienced sluggish development in the Chinese market. Tang Weizhen admitted at the signing ceremony, "Stellantis Group also needs to have a certain level of exposure to the Chinese market. We are not very successful in the Chinese market at present, so we are very inclined to rely on a successful Chinese company