Stellantis is exploring cooperation possibilities, which could include an investment deal or strategic partnership, with Chinese electric vehicle manufacturers like Leapmotor. The European automaker aims to reclaim its market presence within China’s thriving EV market. Individuals familiar with the situation shared this with Bloomberg on Wednesday, noting that discussions are ongoing and no determinations have been reached thus far. Meanwhile, Volkswagen is reportedly engaging in discussions with Leapmotor, based in Zhejiang and listed in Hong Kong, to potentially acquire the company’s EV platform for its budget-oriented Jetta brand. This development followed an announcement of a partnership with Xpeng Motors on July 26, as reported by Reuters on August 2. As Europe’s second-largest automaker, Stellantis possesses a solitary joint venture in China alongside partner Dongfeng Motor Group. For the first half of this year, the company’s reported sales of Peugeot and Citroën vehicles amounted to approximately 44,200 units, reflecting a 21.6% decrease from the previous year. [Bloomberg]
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