Chinese electric cars Leapmotor will soon begin selling in Europe. The Hangzhou-based company has created a joint venture with the Dutch automobile corporation Stellantis. It will produce and sell electric cars outside of China.
Stellantis announced a strategic partnership with Leapmotor last October. It invested 1.5 billion euros to purchase a 21% stake in the Chinese company. Now the European corporation owns 51% of the shares, and Leapmotor – 49%.
Leapmotor’s chief says the alliance with Stellantis will help his company gain access to an extensive overseas distribution and distribution network, as well as European factories.
The remarks come as the Biden administration announced higher tariffs on electric vehicles, lithium batteries, solar panels, aluminum and some other goods from China. Both the United States and Europe accuse China of overproducing electric cars and artificially lowering their prices when sold in foreign markets.
According to Chinese analysts, in the next 20-30 years, large companies from China, such as Geely, BYD and Chery, will try to create an alliance with European manufacturers in order to occupy the European market.
Meanwhile, Stellantis and Leapmotor do not say where they will build electric vehicles. We only know that the T03 hatchback and the C10 crossover will go on sale. Already in September, they will be seen by buyers in nine countries: Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain and Portugal. Over the next three years, three new models will enter the European market.
The T03 and C10 will also be sold in South America, Africa, India, Asia Pacific and the Middle East.
