Stellantis takes $1.6 billion stake in China’s Leapmotor, forming JV to sell its EVs in Europe
One year after filing for bankruptcy with its Jeep joint venture in China, Stellantis has found a new partner in EV startup Leapmotor to utilize its existing technology ecosystem as part of a $1.6 billion joint venture that will expand availability of the Chinese EVs in new markets in Europe, possibly beyond.
Stellantis is a global automotive conglomerate looking to maintain its foothold in the market by electrifying several marques under its umbrella (much to the chagrin of CEO Carlos Tavares). The company is currently responsible for brands like Dodge, Fiat, Maserati, Jeep, and RAM, to name a few, selling vehicles in major auto markets like Europe and North America.
Previously, Stellantis operated a Jeep joint venture in China with GAC Group that it inherited from Fiat Chrysler Automobiles (FCA) before its merger with Peugeot S.A. in early 2021 that birthed its current iteration.
Last October, Stellantis announced it was terminating the JV with GAC, citing dwindling sales and, according to Tavares, a “broken trust” with one of the top five automakers in China. GAC clapped back, citing a “lack of respect” from the Stellantis chief, setting the stage for a bankruptcy filing, thus solidifying its expiry.
This past August, however, Stellantis shared it was returning to the Chinese well in search of a new partnership to take advantage of local EV technology, arguably some of the most innovative and fastest evolving in the industry right now.
At the time, we reported that Leapmotor was a rumored suitor for Stellantis after talks with Volkswagen Group fell through, leading the German automaker to claim its own stake in XPeng Motors for $700 million.
Today, we can confirm that Stellantis has, in fact, invested billions in Leapmotor for a piece of its EV technology.
Stellantis buys 20% stake in Leapmotor, forms JV
According to a press release from Stellantis today, it has acquired an approximately 20% stake in Leapmotor in exchange for an investment of 1.5 billion euros ($1.58 billion). The investment also includes the forming of Stellantis International – a new joint venture with Leapmotor in which the former owns a 51% stake.
The joint venture secures exclusive rights for Stellantis to the manufacturing, sale, and export of Leapmotor vehicles everywhere outside of China. Leapmotor looks to utilize Stellantis’ global presence to boost sales in China and beyond, beginning in Europe. At the same time, Stellantis will take advantage of its new partner’s existing EV ecosystem to reach its own electrification goals – part of its Dare Forward 2030 strategy that includes a €50 billion+ investment over the next decade. Per Stellantis CEO Carlos Tavares:
As consolidation unfolds among the capable electric vehicles start-ups in China, it becomes increasingly apparent that a handful of efficient and agile new generation EV players, like Leapmotor, will come to dominate the mainstream segments in China. We feel it’s the perfect time to take a leading role in supporting the global expansion plans of Leapmotor, one of the most impressive new EV players who has a similar tech-first, entrepreneurial mindset to ours. Through this strategic investment, we can address a white space in our business model and benefit from Leapmotor’s competitiveness both in China and abroad. I want to thank Mr. Zhu Jiangming and the teams from both sides of our great companies for their leadership and collaboration in creating this new opportunity for both of us.
Leapmotor delivered roughly 111,000 new energy vehicles (NEVs) in 2022, earning a spot in the first tier of automakers in a saturated Chinese EV market. While it currently focuses on the mid- to high-end EV market, Leapmotor says it plans to cover A- to E-segments in the next three years. During a signing ceremony, Leapmotor Founder and CEO Zhu Jiangming also spoke to the new partnership:
Today it is a great milestone in Leapmotor’s history, and I am thrilled to witness this moment together with Mr. Tavares and his team. Developed with our in-house, full-suite technology capabilities, Leapmotor brings to the market the best-in-class EV products in a most cost competitive way. We believe in win-win partnerships formed by strong players in the fast-evolving environment. Working with Stellantis, we will continue to be innovative and creative in technology and business synergies and will bring Leapmotor EV cars to the global market.
It will be interesting to see how this joint venture affects both automakers, as Stellantis has catching up to do in electrification and has virtually no presence in China until now, while Leapmotor looks to continue to find an audience in a competitive market in China before entering Europe – a region that is already seeing several other Chinese companies fighting for consumer’s attention against loyalty to local legacy marques.
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First Solar just cut the ribbon on a huge new factory in Iberia Parish, Louisiana, and it dwarfs the New Orleans Superdome. The company’s $1.1 billion, fully vertically integrated facility spans 2.4 million square feet, or about 11 times the size of the stadium’s main arena.
The factory began production quietly in July, a few months ahead of schedule, and employs more than 700 people. First Solar expects that number to hit 826 by the end of the year. Once it’s fully online, the site will add 3.5 GW of annual manufacturing capacity. That brings the company’s total US footprint to 14 GW in 2026 and 17.7 GW in 2027, when its newly announced South Carolina plant is anticipated to come online.
The Louisiana plant produces First Solar’s Series 7 modules using US-made materials — glass from Illinois and Ohio, and steel from Mississippi, which is fabricated into backrails in Louisiana.
The new factory leans heavily on AI, from computer vision that spots defects on the line to deep learning tools that help technicians make real‑time adjustments.
Louisiana Governor Jeff Landry says the investment is already a win for the region, bringing in “hundreds of good-paying jobs and new opportunities for Louisiana workers and businesses.” A new economic impact analysis from the University of Louisiana at Lafayette projects that the factory will boost Iberia Parish’s GDP by 4.4% in its first full year at capacity. The average manufacturing compensation package comes in at around $90,000, more than triple the parish’s per capita income.
First Solar CEO Mark Widmar framed the new facility as a major step for US clean energy manufacturing: “By competitively producing energy technology in America with American materials, while creating American jobs, we’re demonstrating that US reindustrialization isn’t just a thesis, it’s an operating reality.”
This site joins what’s already the largest solar manufacturing and R&D footprint in the Western Hemisphere: three factories in Ohio, one in Alabama, and R&D centers in Ohio and California. Just last week, First Solar announced a new production line in Gaffney, South Carolina, to onshore more Series 6 module work. By the end of 2026, the company expects to directly employ more than 5,500 people across the US.
Read more: First Solar pours $330M into a new South Carolina solar factory
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No, it’s not the new Bolt. GM’s design team previewed a new high-riding “sporty Chevrolet EV” that should be brought to life.
Is Chevy launching a new sporty EV?
This is the all-electric vehicle Chevy should sell in the US. General Motors’ design team released a series of sketches previewing a sporty new Chevy EV.
Although it kinda looks like the new 2027 Chevy Bolt EV as a higher-sitting compact crossover SUV, the design offers a fresh take on what it should have looked like.
The new Bolt is essentially a modernized version of the outgoing EUV model with a similar compact crossover silhouette. Nissan adopted a similar style with the new 2026 LEAF as buyers continue shifting from smaller sedans and hatchbacks to crossovers and SUVs.
Will we see the sporty Chevy EV in real life? It’s not likely. For one, the “exploration sketch” is by GM China Advanced designer Charles Huang.
GM Design posted the sketches on its global social media page, but the caption read “Sporty Chevrolet EV for the China Market.”
It’s too bad. The Bolt could use a sporty sibling like an SS variant. Chevy introduced the Blazer EV SS (check out our review) for the 2026 model year, its fastest “SS” model yet. Packing up to 615 horsepower and 650 lb-ft of torque, the Chevy Blazer SS can race from 0 to 60 mph in 3.4 seconds when using Wide Open Watts (WOW) mode.
Will the Bolt be next? I wouldn’t get my hopes up. And if GM does bring the sporty Chevy EV to life, it will likely only be sold in China. Like all the fun cars these days.
What do you think of the design? Would you buy one of these in the US? Let us know your thoughts in the comments.
While deliveries of the 2027 Bolt are set to begin in early 2026, Chevy is offering some sweet deals on its current EV lineup, including up to $4,000 off in Customer Cash and 0% APR financing for 60 months.
Ready to test drive one? You can use our links below to find Chevy Equinox, Blazer, and Silverado EVs at a dealership near you.
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Environment
Podcast: Electricity is the base currency, Tesla Robotaxi crashes, new Porsche Cayenne EV, and more
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss electricity becoming the base currency, Tesla Robotaxi crashes, the new Porsche Cayenne EV, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.
Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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