Stellantis and Zhejiang Leapmotor Technology Co., Ltd announced they are exploring strategic partnership expansion through a series of initiatives intended to build on early collaboration success.
In October 2023, Stellantis became Leapmotor’s single largest shareholder by acquiring approximately 21% stake. Simultaneously, Leapmotor International (LPMI) launched as a 51% Stellantis / 49% Leapmotor joint venture with exclusive rights for Leapmotor product sale and manufacturing outside Greater China.
The LPMI business experienced successful trajectory in Europe over the last 18 months. Since launching T03 and C10 models in 2024, LPMI expanded presence across the region to more than 850 points of sale and service, with more than 40,000 European shipments in 2025. In 2025, LPMI expanded activities to South America, Asia-Pacific, and Middle East and Africa, introducing the brand in Mexico in April 2026.
Figueruelas Plant Production Expansion Under Assessment
To significantly increase production at Stellantis’ Figueruelas plant in Zaragoza, Spain, the parties are assessing addition of a new line to manufacture Opel‘s all-new C-SUV BEV model, with timing under evaluation including potential 2028 production start. This would add to current Peugeot 208 and Lancia Ypsilon production at Figueruelas. Leapmotor would also bring C-SUV B10 model production to the plant potentially commencing as early as 2026.
As part of Stellantis’ strategy to drive European battery electric vehicle market growth, the new Opel C-SUV considered for Figueruelas manufacturing—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, significantly enhancing affordability for European customers.
Joint Purchasing and Supply Chain Cooperation
Stellantis and Leapmotor would also cooperate in purchasing through LPMI, taking advantage of considerable combined scale and strength. The objective would boost price competitiveness by leveraging the Chinese New Energy Vehicle ecosystem while using European supply chain capabilities to strengthen resilience and accelerate time-to-market for new models.
Villaverde Plant Future Under Discussion
To significantly reinforce Villaverde, Madrid plant’s future, the intended expansion may include new Leapmotor vehicle allocation to the plant, including potential timing from first half 2028. This would be particularly relevant given planned Citroën C4 production end at this plant. Simultaneously, the plant’s ownership is under discussion for potential transfer to LPMI’s Spanish subsidiary. Manufacturing in Villaverde would align with Made-in-Europe upcoming requirements, with vehicles commercialized by LPMI in European and Middle East and Africa markets.
Executive Statements on Expanded Cooperation
Antonio Filosa, Stellantis CEO, stated this plan to expand 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. It is expected to support production and advance European localization of world-class electric vehicle manufacturing at affordable prices meeting customers’ real-world needs, reflecting intent to deepen partnership and take one more step toward even greater future collaborations.
Zhu Jiangming, Leapmotor founder and CEO, stated 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. Their joint venture, Leapmotor International, has quickly shown benefits for both partners and in less than three years has launched the brand on five continents, significantly growing international reach and reputation.
The parties are currently progressing feasibility studies and pre-development work under existing arrangements and continuing discussions toward potential broader industrial cooperation as described, subject to definitive agreement execution and customary approvals.