Stellantis Invests EUR1.5 Billion in Chinese EV Company Leapmotor
26 Ottobre 2023 - 1:54AM
Dow Jones News
By Ben Glickman
Stellantis has invested EUR1.5 billion ($1.58 billion) in
Chinese electric-vehicle business Leapmotor as the automaker seeks
to expand global sales through a joint venture.
Netherlands-based Stellantis now holds a 20% stake in Leapmotor.
The two companies plan to create Leapmotor International, a joint
venture focused on exporting and selling Leapmotor products outside
of Greater China.
Stellantis said it expects the joint venture to begin shipping
internationally in the second half of 2024.
Stellantis will have a majority stake in Leapmotor International
and will name its chief executive. The company will also have two
seats on Leapmotor's board.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
October 25, 2023 19:39 ET (23:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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