Recently, we learned from the Financial Associated Press that Zhu Jiangming, Chairman of Leapmotor, and Carlos Tavares, CEO of Stellantis Group, will attend a joint press conference in mid-May, at which time the two parties will announce the "Zero "Pao International" joint venture was established.
On October 26, 2023, Leapmotor announced that Stellantis Group planned to invest approximately 1.5 billion euros to acquire approximately 20% of the equity of Leapmotor. At the same time, the two parties planned to establish a company called "Leapao International" ( Leapmotor International) joint venture. Except for Greater China, the joint venture has the exclusive right to export and sell to all other markets around the world, as well as the exclusive right to locally manufacture Leap Auto products.
Stellantis is the fourth largest automaker in the world and owns many well-known car brands, such as Fiat, Chrysler, Jeep, Dodge, Ram, and Peugeot. , Citroën, DS, etc. According to the first quarter financial report released on May 7, 2024, Stellantis Group's net revenue was 41.7 billion euros, a decrease of 12% from the same period last year. Shipments were 1.335 million vehicles (excluding joint ventures), a year-on-year decrease of 10%; terminal retail sales were basically the same as last year. Sales of pure electric vehicles and low-emission vehicles increased by 8% and 13% respectively year-on-year. (Source: Financial Associated Press)
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