Stellantis Introduces Leapmotor T03, Value-Packed EV for Europe

May 16, 2024 03:28 AM EDT

CITY DURING NIGHTTIME — (Photo : PEXELS/Kai Pilger )

Stellantis plans to introduce Leapmotor's T03 supermini and C10 SUV in European markets, including the UK, starting in September. The Leapmotor International JV, announced on Tuesday, will commence sales of these models in Europe through an initial network of 200 dealerships.

Stellantis Brings Leapmotor T03 to European Market

AutoCar's report revealed that the multinational corporation invested £1.3 billion for a 21% share in the Chinese company and exclusive export privileges in late 2023. The T03 and C10 represent the initial models in a series of Leapmotor vehicles slated for export from China, with a commitment to unveil "at least one new model annually over the next three years."

The UK debut is set for March 2025. The C10, positioned as a five-seater competitor to the Tesla Model Y boasting a purported 261-mile range and a maximum of 228bhp, will be sourced from Leapmotor's plant in Hangzhou, eastern China. Stellantis is considering manufacturing the European version of the T03 in Tychy, Poland.

As reported by Reuters, Stellantis aims for manufacturing flexibility to handle potential customs fees as it challenges Chinese budget electric vehicle (EV) manufacturers with models from its Chinese joint venture partner, Leapmotor.

The Leapmotor International JV, announced on Tuesday, will commence sales of two Leapmotor models in Europe from September through an initial network of 200 dealerships. Stellantis CEO Carlos Tavares mentioned that the exact manufacturing location for the Leapmotor EVs in Europe has not been finalized but emphasized the importance of quality and price competitiveness.

Tavares noted the goal is to entice customers with a sub-20,000 euros ($21,640) model, enabling it to compete with offerings from competitors like Chinese EV leader BYD. With trade tensions between China and the European Union regarding potential unequal government support for Chinese EV manufacturers, Tavares highlighted the possibility of adjusting production based on this changing landscape.

Leapmotor International plans to market EVs in nine European nations such as Germany, France, Italy, Spain, and the Netherlands. Additionally, it aims to expand its reach to South America, the Middle East, Africa, and the India-Asia Pacific regions starting in the fourth quarter of 2024.

Regarding the U.S. market, a Stellantis spokesperson confirmed that there are no intentions to sell or produce cars in the United States at this time.

Pricing

Reuters also shared that offering a range of five models priced between 49,900 yuan ($6,900) and 151,800 yuan, Leapmotor sold a combined total of 33,410 extended-range hybrids and all-electric vehicles in the initial quarter. This figure represented 2.4% of the overall sales volume of similar vehicles in China during that timeframe.

As reported by Benzinga, Leapmotor's Founder and CEO, Jiangming Zhu, emphasized the partnership's effectiveness in globalizing China's EV industry with aspirations to achieve top-tier recognition worldwide.

The C10, leveraging LEAP3.0 technology, provides high-end features and safety standards, catering to a family-centric driving experience, while the T03 is designed for city commuters, offering a compact design and impressive range efficiency.

The C10, noted for its stylish design and safety elements, guarantees a family-oriented driving environment with a WLTP range of 420 km. On the other hand, the T03, a compact urban vehicle, secured the top spot in the small BEV segment's initial quality study conducted by JD Power.