Stellantis Invests $1.6 Billion in Chinese EV Maker Leapmotor to Gain Foothold in Crucial Chinese Market

Stellantis is acquiring a 21% stake in Chinese EV maker Leapmotor for $1.6 billion.

Leapmotor and Stellantis are forming a joint venture where Stellantis will have a 51% stake.

The deal gives Stellantis a foothold in the crucial Chinese auto market where it has struggled.

Stellantis CEO says successful auto partnerships in China require a Chinese partner to lead.

The deal aims to help Stellantis expand its EV lineup and meet electrification targets.