Stellantis Acquires Leapmotor Stake for $1.6B, Dives into Chinese EV Market
Stellantis has acquired a 21% stake in Chinese electric vehicle maker Leapmotor for $1.6 billion. This deal will give Stellantis access to Leapmotor's advanced technology and provide the smaller Chinese carmaker with a foothold in Europe. Stellantis is also forming a joint venture with Chinese automaker Great Wall Motor to produce EVs in China. Stellantis has struggled to sell cars in China and hopes that this partnership will allow them to benefit from the growing Chinese EV market. Analysts are skeptical about whether these partnerships will improve foreign auto brands' fortunes in China. The European Commission has launched an anti-subsidy probe to consider implementing tariffs on Chinese EV imports, which has raised concerns for Stellantis.
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00:00 It's Benzinga and here's what's on the block.
00:02 Stellantis has acquired a 21% stake in Chinese electric vehicle maker, Leap Motor, for $1.6
00:08 billion.
00:10 This deal will give Stellantis access to Leap Motor's advanced technology and provide the
00:14 smaller Chinese carmaker with a foothold in Europe.
00:18 Stellantis is also forming a joint venture with Chinese automaker Great Wall Motor to
00:22 produce EVs in China.
00:25 Stellantis has struggled to sell cars in China in hopes that this partnership will allow
00:29 them to benefit from the growing Chinese EV market.
00:32 Analysts are skeptical about whether these partnerships will improve foreign auto brands'
00:37 fortunes in China.
00:39 The European Commission has launched an anti-subsidy probe to consider implementing tariffs on
00:43 Chinese EV imports, which has raised concerns for Stellantis.
00:47 For all things money, visit Benzinga.com.
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