European automotive giant Stellantis plans to cooperate with Chinese electric vehicle companies to expand into the world's largest automotive market

News on August 23, according to reliable sources, Stellantis NV, Europe's second-largest automaker by sales, is actively considering cooperation with Chinese electric vehicle companies to consolidate its position in China, the world's largest auto market.

Relevant news shows that Stellantis has begun to explore the possibility of cooperation with Chinese electric vehicle companies, including cooperation with companies such as Leapmotor. It is understood that Stellantis is currently taking a series of measures to catch up with its competitors. One of the plans is to invest in local car companies and establish business partnerships that will help expand in the Chinese market.

The source further added that although the decision is still under consideration, Stellantis is eager to gain greater influence in the Chinese market. So far, Stellantis and Leapmotor have not commented on this and remain silent on outside speculation.

Carlos Carlos, CEO of Stellantis Group Tavares once mentioned in an interview that some of their Western competitors, such as Volkswagen and General Motors, are facing pressure in the Chinese market. As the traditional fuel vehicle business gradually shrinks and the scale of the electrified business is relatively small, the profits of these competitors are facing challenges.

He also pointed out that as Tesla’s profits decline, the market will enter a stage of strict pricing and fierce cost competition. In such a competitive environment, a company as large as Stellantis may face operational problems.

At the same time, relevant news also revealed that in early August this year, relevant people familiar with the matter said that the Jetta brand under the Volkswagen Group was also actively exploring cooperation with Leapmotor. It is reported that FAW has internally communicated relevant cooperation intentions. If the cooperation is reached, the Jetta brand will focus on the economical electric vehicle market and will move its marketing company to Hangzhou, following the example of FAW Audi.

Informed sources revealed: "Unlike the previous cooperation model between Volkswagen and Xiaopeng, this time FAW-Volkswagen is likely to 'buy out' a certain generation of platform technology of Leapmotor." However, FAW-Volkswagen internally People said that although there was indeed contact with Leapmotor, the specific situation is still unknown. As for Leapmotor, it declined to comment.

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