European carmaker Stellantis has announced a new joint venture with Chinese electric vehicle startup Leapmotor to introduce electric vehicles (EVs) in nine European countries starting in September. The countries where sales will commence include Belgium, France, Italy, Germany, Greece, Netherlands, Romania, Spain, and Portugal. The company plans to expand sales to South America, the Middle East, Africa, India, and the Asia Pacific region in the fourth quarter of this year.
The joint venture, named Leapmotor International, will focus on manufacturing and selling Leapmotor's electric vehicles outside of China. Stellantis will hold a 51% stake in the venture, with Leapmotor owning the remaining 49%. The initial models to be launched are the T03 and C10, with plans to introduce a new model annually over the next three years.
