Automaker and mobility solutions provider Stellantis, in partnership with Chinese startup automaker Leapmotor, has unveiled an electric sports utility vehicle in Malaysia, marking the joint venture’s (JV) entry into Southeast Asia.
Holding a 51% stake in Leapmotor International joint venture (JV), Stellantis has exclusive rights to manufacture, export, and sell Leapmotor products outside China. This represents a first for a Western automaker with such an arrangement, reported Reuters.
In May, the JV announced plans for global expansion in 2024, aiming to sell electric vehicles (EVs) in several regions including Europe and the Asia-Pacific.
At the launch event, Malaysia’s Investment, Trade and Industry minister Tengku Zafrul Aziz said that sales in the country will commence with Leapmotor’s C10 medium-sized SUV.
The Malaysian government is actively working to position the country as a key player in the global EV production and supply chain.
Expecting EVs and hybrids to make 20% of new car sales by 2030, Malaysia has seen a 112% increase in battery-electric vehicle sales in the first half of the year, said Tengku Zafrul.
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By GlobalDataThe Stellantis-led joint venture unveiled the B10 electric SUV at the Paris Motor Show, the inaugural model of the upcoming B-series.
The B10 C-SUV is based on Leapmotor’s LEAP 3.5 architecture, featuring advanced driver assistance systems (ADAS), a customisable digital cockpit, and intelligent driving capabilities.
Stellantis experienced a downturn in shipments, with third-quarter figures showing a 20% drop, particularly in North America.
The company attributes this decline to inventory reduction initiatives and the impact of new product launches.
Shipments for the three months ending September 2024 were 1.148 million units, a 20% decrease from the same period in the previous year.
