Stellantis NV (STLAM.MI) on Thursday announced a 1.5 billion euro ($1.6 billion) deal to acquire a 20% stake in China's Leapmotor Technology (9863.HK) in a move that gives the European automaker a vital foothold in the world's largest auto market.
A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photoon Thursday announced a 1.
"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," Stellantis CEO Carlos Tavares said. The company ranked ninth by new energy vehicle sales in China in September, according to data from the China Passenger Car Association.
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