Stellantis, a prominent automaker and mobility solutions provider, has recently collaborated with Chinese startup automaker Leapmotor to introduce an electric sports utility vehicle in Malaysia. This marks the joint venture’s foray into Southeast Asia, with Stellantis holding a majority stake of 51% in the Leapmotor International joint venture.
One significant aspect of this partnership is that Stellantis has secured exclusive rights to manufacture, export, and sell Leapmotor products outside China. This unique arrangement sets a precedent for Western automakers and underscores Stellantis’ commitment to expanding its global footprint in the electric vehicle (EV) market.
Earlier this year, the JV announced its plans for global expansion in 2024, with a focus on selling EVs in various regions, including Europe and the Asia-Pacific. The launch event in Malaysia featured Leapmotor’s C10 medium-sized SUV, signaling the beginning of sales in the country.
Malaysia, under the leadership of its Investment, Trade, and Industry minister Tengku Zafrul Aziz, is actively positioning itself as a key player in the global EV production and supply chain. The government’s efforts align with its goal of achieving a 20% market share for EVs and hybrids by 2030. Notably, the country witnessed a 112% increase in battery-electric vehicle sales in the first half of the year, highlighting the growing demand for sustainable transportation solutions.
In a separate development, the Stellantis-led joint venture recently unveiled the B10 electric SUV at the Paris Motor Show, marking the debut of the upcoming B-series. Built on Leapmotor’s LEAP 3.5 architecture, the B10 C-SUV boasts advanced driver assistance systems (ADAS), a customizable digital cockpit, and intelligent driving capabilities.
However, Stellantis faced challenges in the third quarter, with a 20% decline in shipments, particularly in North America. The company attributed this downturn to inventory reduction initiatives and the impact of new product launches. Shipments for the quarter totaled 1.148 million units, reflecting a significant drop compared to the same period in the previous year.
As Stellantis continues to navigate the evolving automotive landscape and expand its presence in the EV market, its partnership with Leapmotor and the launch of innovative electric vehicles underscore its commitment to sustainability and innovation in the industry.