Stellantis, Leapmotor explore the expansion of strategic partnership

Stellantis (STLA) announced with Zhejiang Leapmotor that they are exploring the expansion of their strategic partnership through a series of initiatives. In October 2023, Stellantis became the single largest shareholder of Leapmotor by acquiring an approximately 21% stake. At the same time, Leapmotor International was launched as a 51% Stellantis / 49% Leapmotor joint venture with exclusive rights for the sale and manufacturing of Leapmotor products outside Greater China. LPMI has expanded its presence across the region to more than 850 points of sale and service, with more than 40,000 shipments in Europe in 2025. In 2025, LPMI expanded its activities to South America, Asia-Pacific and Middle East and Africa, and has introduced the brand in April in Mexico. Firstly, in a move to significantly increase production at Stellantis’ Figueruelas plant, in Zaragoza, Spain, the parties are assessing the addition of a new line to manufacture Opel’s all new C-SUV BEV model, with timing under evaluation, including a potential start of production in 2028. This would be in addition to the current production of the Peugeot 208 and the Lancia Ypsilon at Figueruelas. Leapmotor would also bring production of its C-SUV B10 model to the plant potentially commencing as early as 2026. Secondly, Stellantis and Leapmotor would also cooperate in the area of purchasing through LPMI. The objective would be to boost price competitiveness by leveraging the Chinese New Energy Vehicle ecosystem, while using European supply chain capabilities to strengthen resilience and accelerate time-to-market for new models. Finally, in a move to reinforce significantly the future of Villaverde, Madrid plant, the intended expansion may include the allocation of a new Leapmotor vehicle to the plant, including potential timing from the first half of 2028.