On May 14, Liu Jie, secretary of the CPC Hangzhou Municipal Committee, met with Carlos Tavares, CEO of Stellantis. Both sides announced the establishment of “Leapmotor International” as a joint venture.

Stellantis and Leapmotor respectively hold 51 percent and 49 percent of shares of the new company which is responsible for manufacturing and marketing of the brand in overseas markets and plans to start selling products in nine European countries such as France, Italy, and Germany in September.

Liu Jie and Carlos Tavares both agree to deepen cooperation on new energy vehicles for a win-win partnership.

A few days ago, Renault Group (France) and Porsche Automobile Holding (Austria) also visited Hangzhou, seeking cooperation opportunities in the field of new energy vehicles.