Leapmotor International, a joint venture between Stellantis and Chinese Leapmotor, is set to make its debut in Europe with the launch of two electric vehicles: the T03 city car and the C10 electric SUV. Both models are expected to arrive in European markets by September and October 2023, with competitive pricing and advanced technology aimed at attracting consumers in a rapidly evolving electric vehicle landscape.
The T03 is priced at €18,900, potentially dropping below €15,000 with government bonuses for electric vehicles, while the C10 starts at €36,400. This pricing strategy positions Leapmotor to compete directly with established brands like Citroën and Tesla, particularly in the French market where the Citroën ë-C3, priced at €19,300, may face challenges due to Leapmotor's aggressive pricing.
Stellantis aims to establish 350 sales points across Europe by the end of 2024, expanding to 500 by 2026, leveraging its extensive distribution network to support the launch of Leapmotor vehicles. This partnership is significant as it marks the first global collaboration in the electric vehicle sector between a major automaker and a Chinese NEV manufacturer, focusing on enhancing Stellantis' portfolio as it competes with other Chinese brands already in Europe.
- The Leapmotor T03 is a compact electric city car with a range of 265 km, while the C10 SUV boasts a longer range of 420 km. Both models are designed to appeal to the mid-to-high-end market segment, which is currently the fastest growing in China, and will be manufactured using a CKD (complete knock-down) method in Poland, utilizing components sourced from China.
- Leapmotor has shown impressive growth in sales, increasing from just over 1,000 units in 2019 to over 144,000 in 2023. The company has sold over 400,000 electric vehicles in China, and its partnership with Stellantis, which includes a €1.5 billion investment, is expected to bolster its presence in the European market. The joint venture aims to introduce at least one new vehicle each year for the next three years, with plans to expand into the Middle East, Asia Pacific, and South America by 2024.
