Loading ...Stellantis Makes $1.6 Billion Investment In Chinese EV Startup Leapmotor
While almost all other auto manufacturers, especially those from Japan, are mulling exits from China (where domestic brands are starting to dominate the EV market), Stellantis is doing the opposite and investing in an EV startup.
The U.S. based auto manufacturer who makes Jeep and Dodge brands said it would be investing 1.5 billion euros ($1.58 billion) into Chinese EV startup Leapmotor, CNBC reported this week.
Stellantis CEO Carlos Tavares said on Thursday morning: “Through this strategic investment, we can address a white space in our business model and benefit from Leapmotor’s competitiveness both in China and abroad.”