The partnership would give Stellantis access to Leapmotor’s parts and certain technologies, Bloomberg reported
is nearing a deal to acquire a stake in electric vehicle company Zhejiang Leapmotor, a source close to the matter said on Wednesday, and the car maker said it would give an important update on Thursday.
Stellantis and Leapmotor are also discussing setting up a joint venture as part of the transaction, the Bloomberg report said, adding that a partnership could allow Stellantis to manufacture and sell some Leapmotor cars outside China. Stellantis, whose brands include Fiat and Peugeot, has only a very small presence in China, the world’s largest auto market. The group and rivals such as Renault are concerned about growing competition from cheap Chinese electric cars in Europe.
On Wednesday, the company sent out an invitation to journalists for Thursday morning for an “important update,” without giving details.
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