- Leapmotor and Stellantis plan to start production of the Leapmotor C10 SUV in Malaysia by the end of 2025.
- The project will be based on Stellantis' existing Malaysian plant, with an initial investment of 5 million euros.
Localized production of Leapmotor's (HKG: 9863) vehicles will begin in Malaysia this year, after European production began last year.
Stellantis NV (NYSE: STLA), Europe's second-largest automaker by volume, announced today that it will launch a localized assembly project in Malaysia with Leapmotor.
The project will be based at Stellantis' existing Gurun plant in the Malaysian state of Kedah, with an initial investment of 5 million euros ($5.7 million), Stellantis said in an announcement.
The companies plan to launch localized production of the first Leapmotor model, the C10 SUV (sport utility vehicle), by the end of 2025.
The Leapmotor C10 initially hit the market in China on March 2, 2024, offering extended-range electric vehicle (EREV) and battery electric vehicle (BEV) versions. The five-seat SUV is currently priced from RMB 128,800 ($17,640) in China.
On September 24, 2024, Leapmotor announced the start of sales of the C10 in 13 European countries, as well as the company's other compact BEV, the T03.
At this year's Brussels auto show in Belgium on January 10, Leapmotor showcased its EREV technology and launched the C10 EREV in Europe.
As Stellantis' regional manufacturing hub, the Gurun plant has a strategically important location and proven automotive manufacturing capabilities, the company said.
The plant can efficiently scale up production and distribution to neighboring ASEAN (Association of Southeast Asian Nations) markets, Stellantis said.
By introducing Leapmotor's technologically advanced and affordable electric vehicle (EV) products, Stellantis is not only expanding its product portfolio in Southeast Asia, but will also contribute to the sustainable development of the EV industry in the region, it said.
Ashwani Muppasani, chief operating officer, India and Asia Pacific, Stellantis, saw the development as a new chapter in the company's electrification journey in ASEAN, saying the company is laying the foundation for sustainable mobility in Malaysia and across Southeast Asia.
The localized assembly project in Malaysia will accelerate Leapmotor's globalization strategy, said Zhu Jiangming, founder, chairman and CEO of the Chinese carmaker.
Leapmotor made its debut in Malaysia in October 2024, followed by the launch of its EV products in Thailand.
On October 26, 2023, Leapmotor said Stellantis would invest 1.5 billion euros in it to gain about 20 percent stake, becoming the EV maker's largest outside shareholder.
On May 14, 2024, Leapmotor announced the formation of Leapmotor International, a joint venture in which Stellantis holds a 51 percent stake and Leapmotor holds the other 49 percent.
Leapmotor International is headquartered in Amsterdam, the Netherlands, and is led by Stellantis China vice president Xin Tianshu as CEO.
In June last year, Jefferies analysts mentioned in a note that Leapmotor's management said on an analyst call that its first T03 small EVs had rolled of the line from Stellantis' assembly facility in Poland, with mass production scheduled to begin in September.
($1 = 0.8792 euros, $1 = RMB 7.3029)
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