$Stellantis NV (STLA.US)$$LEAPMOTOR (09863.HK)$ Stellantis h...

Stellantis has explored potentially working with Chinese EV makers, including Leapmotor, according to Bloomberg.

Stellantis NV, Europe's second-biggest carmaker by sales, is considering a tie-up with a local electric vehicle (EV) maker, including Leapmotor, to bolster its presence in the Chinese market, Bloomberg said in a report yesterday, citing people familiar with the matter.

The carmaker is weighing options such as investing in a local EV company and establishing a business partnership that would help it grow in China.

Other global automakers, including Volkswagen, have also expressed interest in a potential partnership with Leapmotor.

Leapmotor public in Hong Kong on September 29, 2022, and its prospectus said it's the most vertically integrated emerging EV company in China.

On July 20, local media outlet Cailian reported that Leapmotor was in talks with an overseas company about technology cooperation and had made substantial progress.

On August 2, Cailian reported in another article that Volkswagen's Jetta brand was in talks with Leapmotor, and that unlike the Volkswagen-Xpeng deal, Volkswagen's Chinese joint venture FAW-Volkswagen is likely to buy out one of Leapmotor's platform technologies.