Daily Newsletter

24 August 2023

Daily Newsletter

24 August 2023

Stellantis exploring potential collaboration with Leapmotor

Aligned with approach to streamline China operations

Luke Martin August 24 2023

Stellantis is considering a collaboration with Chinese EV manufacturer Leapmotor to strengthen its presence in the Chinese market. 

No final decisions have been made as discussions are ongoing.

Bloomberg said the potential collaboration is aligned with Stellantis CEO Carlos Tavares’ “asset-light” strategy to streamline operations in China.

The company halted production at its only Jeep plant in China last year and contemplated ending all car manufacturing in the country.

Leapmotor has attempted to revitalise sales through introducing features such as cell-to-chassis batteries and it has added internal combustion vehicles in the form of range extenders.

Global automakers are increasingly showing interest in the Chinese EV market. In July, Volkswagen announced a US$700m investment for a 5% stake in Chinese EV start-up XPeng. VW is also reported to be interested in a cooperation deal with Leapmotor.

Tyres and exhaust systems expected to dominate the automotive aftermarket industry

Today’s consumers have a great desire to customize and distinguish their vehicles. The demand for aftermarket extras, including specialized wheels, performance upgrades, interior renovations, audio systems, and aesthetic alterations, has increased owing to this trend. Per GlobalData estimates, the global automotive aftermarket industry will be valued at $677 billion in 2023 and is expected to grow at a CAGR of 5.8% by 2030.

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