MILAN, Aug 24 (Class Editori) — Stellantis aims to expand its presence in China, the world’s largest automotive market. According to Bloomberg, the company managed by Carlos Tavares is reportedly pondering a collaboration with a Chinese electric vehicle maker to strengthen its presence in the Asian nation’s market.
According to sources familiar with Stellantis’ intentions mentioned by the US agency, Europe’s second-largest car manufacturer is considering partnering with Zhejiang Leapmotor Technologies. The Chinese company primarily focuses on R&D, production and sale of new-energy vehicles. Additionally, it is involved in R&D of all software and hardware for the main systems and electronic components of intelligent electric vehicles. Leapmotor’s main product line consists of the mid-size and large sedan C01, mid-size SUV C11, hatchback T03, and coupé S01.
Similarly to its competitors, Stellantis has decided to explore investment or partnership opportunities with a Chinese electric vehicle company to target that market. However, sources indicate that evaluations are still ongoing and no final decision has been reached. Other global car manufacturers, including Volkswagen, have already expressed interest in partnering with Leapmotor.
A potential partnership with the Chinese company aligns with Stellantis CEO Carlos Tavares’ “asset-light” strategy in China. This approach was chosen after the Group halted production at its lone Jeep plant in China. During the July semiannual report, Tavares expressed satisfaction with his choice to reduce production in Asia, explaining that the intense price competition in China has “put pressure” on rivals like Volkswagen and General Motors.
(Source:Class Editori)
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