Production of the Leapmotor T03 small EV will begin as early as the second quarter of this year, using so-called semi-knocked down (SKD) technique, according to Reuters.
(Image credit: CnEVPost)
Chinese electric vehicle (EV) company Leapmotor (HKG: 9863) will begin production of small EVs at a Stellantis (NYSE: STLA) plant in Poland, Reuters said in a report today, citing two people familiar with the matter.
Production of the Leapmotor T03 small car will start as early as the second quarter of this year, using so-called semi-knocked down (SKD) technique, which consists of turning partially assembled kits into finished vehicles, one person said, according to the report.
Production will start at the Stellantis Poland plant in Tychy, the second source said.
The T03 is a compact battery electric vehicle (BEV) and is the least expensive of Leapmotor's models currently on sale.
On March 2, Leapmotor launched the 2024 T03 in China, offering three versions with starting prices of RMB 49,900, RMB 59,900 and RMB 69,900 respectively. Their CLTC ranges are 200 kilometers, 310 kilometers, and 403 kilometers, respectively.
The previously on-sale 2023 T03 was offered in four variants with starting prices of RMB 59,900, RMB 69,900, RMB 80,900, and RMB 89,900, respectively.
The T03 sold 35,454 vehicles in 2023, contributing 24.6 percent of Leapmotor's annual sales of 144,155 units, according to data compiled by CnEVPost.
Leapmotor's other models are the more expensive C10, C11, C01, and S01, with the C-series models offered in both BEV and extended-range electric vehicle (EREV) versions.
Leapmotor announced on October 26 last year that Stellantis would invest 1.5 billion euros ($1.6 billion) in it for a roughly 20 percent stake, making it the EV maker's largest outside shareholder.
The two companies plan to form a joint venture called Leapmotor International to accelerate and expand global sales of Leapmotor's products by leveraging Stellantis' global resources, Leapmotor's announcement said at the time.
Stellantis will own 51 percent of the joint venture, with Leapmotor holding the other 49 percent.
The joint venture will have the exclusive right to conduct export and sales operations to all other markets in the world except Greater China, as well as the exclusive right to manufacture Leapmotor products locally.
Notably, Leapmotor chairman Zhu Jiangming said in a group interview with Chinese media after the C10's launch on March 2 that the company will begin selling vehicles in overseas markets in the third quarter of this year, with the first product being the C10, which will be the company's flagship model for overseas markets.
