As a former European Automotive correspondent for Reuters, I’ve a spent a few years writing about the industry. I will penetrate the corporate hype and bluster and find out how these gigantic enterprises are really doing. I also love to drive their magnificent machines, and their more modest ones. I’ll be telling you if the technology works, too.
of China was welcomed by some analysts as vital in its bid to survive, or even thrive, as the electric car revolution gains pace. Some though considered it a bit risky.
Stellantis, formed in 2021 by the merger of Fiat Chrysler and France’s Peugeot-Citroen, is buying a 21% stake in EV maker Zhejiang Leapmotor Technologies in a $1.6 billion deal. The plan is for Stellantis to set up a European venture to sell and make Leapmotor’s products outside of China, starting later next year. Stellantis will hold 51%.
The Wall Street Journal’s Heard on the Street columnist Stephen Wilmot wondered if it was a bit of a gamble. Bernstein said Leapmotor was a startup with strong in-house research and development and more advanced technology.“With battery vehicles making up 5% of its last year's sales, it’s a long way from complying with a planned EU ban on combustion-engine cars from 2035. It has also struggled to gain relevant market share in China,” Breaking Views columnist Katrina Hamlin said.
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