Chinese electric vehicle (EV) startup Leapmotor is reportedly set to begin EV production at a Stellantis plant in Poland, as stated by analysts at Jefferies in a report on Sunday.
Jefferies cited Leapmotor management as the origin of the claims, saying that the company had already seen the first T03 compact EV units roll off the production line at the company’s historic Fiat factory in Tychy, Poland, according to Reuters. The vehicle is also reportedly on schedule to reach mass production as soon as September.
The Jefferies report also claimed that the joint venture would be manufacturing a second model at the Tychy factory, the Leapmotor A12 SUV in Q1 2025. The Leapmotor C10 SUV is expected to be produced in China and exported to Europe.
Stellantis-Leapmotor eSUV details revealed in sales license for China
Management also told the firm that manufacturing costs at the Polish plant were roughly 400 to 500 euros (~$428 to $535) per vehicle, which is comparable to those produced in China. Comparatively, producing the vehicles in Italy would be expected to cost roughly 1,000 euros (~$1,074) per vehicle.
Stellantis is a 20-percent stakeholder in Leapmotor, and the companies were approved by Chinese regulators to form a joint venture together in March, dubbed Leapmotor International. The joint venture is 51-percent owned by Stellantis, allowing the company to retain exclusive rights to build, export, and sell Leapmotor products outside of China—representing a first for a legacy automaker in the West.
The joint venture is expected to sell Leapmotor EVs in multiple markets, including in India, according to a report last month. Despite the joint venture, Stellantis CEO Carlos Tavares has regularly warned about the influence of Chinese EVs on the Italian and European markets overall.
In recent months, Stellantis has faced some restructuring as a part of cost-cutting efforts, primarily in the North American market. The multinational automaker has recently reported substantial growth in European markets.
What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.
