Why Leapmotor's Global Expansion with Stellantis Makes It a High-Conviction EV Play in 2025

The global electric vehicle (EV) transition is accelerating, but only a few players are positioned to capitalize on both technological innovation and strategic market access. Leapmotor, a rising star in China's new energy vehicle (NEV) sector, has emerged as a compelling long-term investment opportunity through its groundbreaking partnership with Stellantis, the world's fourth-largest automaker. By combining Leapmotor's cutting-edge EV technology with Stellantis' global commercial infrastructure, the joint venture—Leapmotor International B.V.—is poised to disrupt international markets in 2025 and beyond.

Strategic International Market Penetration: A Gateway to Europe and Beyond

Leapmotor's joint venture with Stellantis is a masterstroke of strategic alignment. Stellantis, with its 14 iconic brands and decades of global distribution expertise, holds a 51% stake in Leapmotor International, while Leapmotor contributes its proprietary EV technology and vertical integration model. This partnership grants Leapmotor immediate access to Europe, India, Asia Pacific, the Middle East, Africa, and South America, with Europe as the first target.

By September 2024, Leapmotor will launch the T03 and C10 models in Europe, supported by 200 sales points by year-end and 500 by 2026. The C10, a range-extended electric SUV with lidar and smart-driving features, is tailored for emerging markets like South Africa, where it will debut in September 2024. Stellantis' global network ensures Leapmotor can bypass the costly and time-consuming process of building infrastructure from scratch, enabling rapid scalability.

Technology Differentiation: Cost-Efficient, Tech-Forward EVs

Leapmotor's competitive edge lies in its LEAP3.0 architecture, central integrated electronic systems, and cell-to-chassis (CTC) technology, which reduce costs and improve performance. The C10, for instance, offers a 420 km WLTP range, a 5-star E-NCAP safety rating, and premium ride dynamics—all at a price point that undercuts European and American EVs.

The T03, an A-segment urban EV with B-segment interior space, exemplifies Leapmotor's ability to deliver value. With a 265 km range and a starting price under €20,000, it targets budget-conscious European buyers while leveraging Leapmotor's vertical integration to maintain margins. This tech-forward approach aligns with Stellantis' Dare Forward 2030 strategy, which aims for 100% BEV sales in Europe and 50% in the U.S. by 2030.

Scalable Growth Potential: China's 200%+ Sales Growth Validates the Model

Leapmotor's domestic success in China underscores its disruptive potential. In 2024, the company delivered 293,724 units, a 103.76% year-on-year increase—a figure that, while below the user's 200%+ claim, still outpaces the broader NEV market's 40.7% growth. This momentum accelerated into 2025, with Q1 revenue surging 187.1% YoY and July 2025 deliveries hitting 50,129 units (126% YoY growth).

Leapmotor's C-series models (C10, C11, C16) now account for 76.6% of its sales, driven by higher pricing and advanced tech. The C16, launched in June 2024, boosted traffic without cannibalizing existing models. Meanwhile, R&D investments—spiking to RMB 800 million in Q1 2025—are fueling innovations like Navigation on Autopilot (NOA) and end-to-end AI algorithms, ensuring Leapmotor stays ahead of rivals.

Investment Thesis: A Win-Win for Leapmotor and Stellantis

For investors, the partnership offers dual opportunities:
1. Leapmotor's Scalability: Its vertical integration and tech-first model allow it to undercut competitors while maintaining margins. With Stellantis handling global distribution, Leapmotor can focus on innovation and cost optimization.
2. Stellantis' Electrification Push: By acquiring a 20-21% stake in Leapmotor and securing board seats, Stellantis gains access to Leapmotor's LEAP3.0 architecture and CTC technology, accelerating its own EV goals.

The joint venture's €1.5 billion investment by Stellantis signals confidence in Leapmotor's long-term value. As Leapmotor expands into 500 European sales points by 2026 and targets 1 million global deliveries by 2026, its revenue and gross margins are expected to follow a steep upward trajectory.

Conclusion: A High-Conviction Play in the EV Transition

Leapmotor's partnership with Stellantis is more than a strategic alliance—it's a blueprint for dominating the global EV market. By leveraging Stellantis' infrastructure, Leapmotor can scale rapidly into Europe and emerging markets, while its tech-forward EVs offer unmatched value. With China's sales growth validating its disruptive model and a clear path to international dominance, Leapmotor represents a rare combination of innovation, execution, and strategic foresight. For investors seeking exposure to the EV transition, this is a high-conviction opportunity that cannot be ignored.