Stellantis fulfills acquisition of 21.26% stake in Leapmotor

Shanghai (Gasgoo)- On November 21, Leapmotor's board of directors ("the Board") announced that it had issued 194,260,030 new H Shares to Stellantis, the world's fourth-largest automaker. The subscription transaction was completed on November 20, 2023. 

This development signifies the formalization of the transaction where Stellantis has successfully subscribed to approximately 20% shares in Leapmotor.

Post-agreement, the company's equity structure transforms, with the major shareholder group holding a combined 23.47%, Stellantis securing a 21.26% stake, and other shareholders retaining 55.27%, while Dahua Technology no longer maintains ownership.

Stellantis, Leapmotor signing strategic cooperation agreement on Oct. 26; photo credit: Stellantis

Stellantis and Leapmotor announced on October 26 that Stellantis planned to invest €1.5 billion to acquire around 20% stake in Leapmotor, making Stellantis a significant shareholder. The deal also outlines the formation of Leapmotor International, a 51/49 Stellantis-led joint venture that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor's products outside Greater China. This would be an industry-first global electric vehicle (EV) relationship between a leading automaker and a Chinese pure-play new energy vehicle (NEV) maker.

The joint venture is set to commence shipments in the second half of 2024.

The partnership seeks to further boost Leapmotor's sales in China, the world's largest EV market, while leveraging Stellantis' global commercial presence to accelerate Leapmotor's entry and growth in overseas regions, starting with Europe. For Stellantis, the joint venture offers an opportunity to tap into Leapmotor's innovative and cost-efficient NEV ecosystem in China.