AMSTERDAM AND HANGZHOU, May 8, 2026 – Stellantis NV (“Stellantis”) announced today with Zhejiang Leapmotor Technology Co., Ltd. (“Leapmotor”) that they are exploring the expansion of their strategic partnership through a series of initiatives intended to build on the early success of their collaboration.
In October 2023, Stellantis became the single largest shareholder of Leapmotor acquiring an approximately 21% stake. At the same time, Leapmotor International (“LPMI”) was launched as a 51% Stellantis / 49% Leapmotor joint venture with exclusive rights for the sale and manufacturing of Leapmotor products outside Greater China.
The LPMI business experienced a successful trajectory in Europe over the last 18 months. Since launching the T03 and C10 models in 2024, LPMI has expanded its presence across the region to more than 850 points of sale and service, with more than 40,000 shipments in Europe in 2025.
In 2025, LPMI expanded its activities to South America, Asia-Pacific and Middle East and Africa, and has introduced the brand in April 2026 in Mexico.
Stellantis and Leapmotor intend to deepen and expand their cooperation as follows:
Firstly, in a move to significantly increase production at Stellantis’ Figueruelas plant, in Zaragoza, Spain, the parties are assessing the addition of a new line to manufacture Opel’s all new C-SUV BEV model, with timing under evaluation, including a potential start of production in 2028. This would be in addition to the current production of the Peugeot 208 and the Lancia Ypsilon at Figueruelas. Leapmotor would also bring production of its C-SUV B10 model to the plant potentially commencing as early as 2026.
As part of Stellantis’ strategy to drive growth of the European market for battery electric vehicles, the new Opel C-SUV considered for manufacturing at Figueruelas – which is a long-time Opel production plant where more than 10 million Opel Corsa have been produced since 1982 – would also benefit from highly competitive LPMI-sourced components, which would significantly enhance affordability for European customers.
Secondly, Stellantis and Leapmotor would also cooperate in the area of purchasing through LPMI, taking advantage of their considerable combined scale and strength. The objective would be to boost price competitiveness leveraging the Chinese New Energy Vehicle ecosystem, while using European supply chain capabilities to strengthen resilience and accelerate time-to-market for new models.
Finally, in a move to reinforce significantly the future of Villaverde, Madrid plant, the intended expansion may include the allocation of a new Leapmotor vehicle to the plant, including potential timing from the first half of 2028. This would be of particular relevance in light of the planned end of production of the Citroën C4 at this plant. At the same time, the plant’s ownership is under discussion for potential transfer to LPMI’s Spanish subsidiary. Manufacturing in Villaverde would be in line with Made-in-Europe upcoming requirements and the vehicles would be commercialized LPMI in the European and Middle East and Africa (MEA) markets.
Antonio Filosa, Stellantis CEO, commented: “This plan to expand our successful partnership with Leapmotor – a trusted peer and one of the fastest-growing, most respected new energy vehicle producers globally – is a true win-win for both of us. It is expected to support production and advance localization in Europe of world-class manufacturing of electric vehicles at affordable prices to meet customers’ real-world needs. Today’s announcement reflects our intent to deepen our partnership and take one more step towards even greater collaborations in the future.”
Zhu Jiangming, Leapmotor founder and CEO said: “Leapmotor’s leading-edge technologies, combined with Stellantis’ global reach, deep regional roots and much-loved automotive brands, would make this a uniquely powerful partnership. Our joint venture, Leapmotor International, has quickly shown its benefits for both partners and in less than three years, has seen us launch our brand on five continents and significantly grow our international reach and reputation.”
The parties are currently progressing feasibility studies and pre-development work under existing arrangements and are continuing discussions toward potential broader industrial cooperation as described herein, subject to the execution of definitive agreements and customary approvals.
