Stellantis prepares the landing of the Chinese brand Leapmotor in Argentina

Stellantis plans to expand its presence in Argentina with the incorporation of a Chinese brand to the local market. The Asian automaker that Stellantis seeks to bring to Argentina is Leapmotor, a Chinese electric vehicle company that joined the European conglomerate a year ago. This occurred after a $1.5 billion investment that gave Stellantis a 21 percent stake in the firm.

As of May, Stellantis and Leapmotor announced that they obtained all necessary approvals to form Leapmotor International, an Amsterdam-based joint venture in which Stellantis owns 51 percent of the shares and Leapmotor 49 percent. Under the direction of Tianshu Xin, a former Stellantis China executive, this new entity launched the T03 and C10 models in European markets. With a vision of expansion, the joint venture is preparing to enter new territories, including India, Asia-Pacific (excluding mainland China), the Middle East, Africa and South America, starting in the fourth quarter of 2024.

Regarding the arrival of Leapmotor in Argentina, Martín Zuppi, president of the company in the country, said that Stellantis is already evaluating the viability of adding this brand to the country’s electric vehicle ecosystem. However, he clarified that this decision will depend on the development of the necessary infrastructure for electric cars in Argentina. The group’s position is to offer mobility solutions to customers, not problems, said the executive, underscoring the importance of the country being prepared to receive this type of technology.

Leapmotor already has a presence in Chile and Uruguay, and its launch in Brazil is scheduled for before the end of the year. Zuppi, together with Pablo García Leyenda, commercial director of Stellantis Argentina, is part of a working group with executives from Brazil and Chile in order to coordinate the regional landing of the brand throughout South America.

In Europe, Leapmotor has positioned itself as one of the most accessible options in terms of electric vehicles, ranking below models such as the Fiat 500e, also belonging to the Stellantis portfolio. This competitive advantage could be replicated in the region’s markets, where the aim is to offer viable and economical alternatives in the growing electric vehicle segment.

The arrival of Leapmotor in Argentina not only poses a new scenario for the supply of electric cars, but also opens the door to a discussion about the dealer network in the country. Zuppi explained that they are evaluating the possibility of Leapmotor having its own stores, but this decision will depend on sales volume. Despite this, he does not see any problems on the part of the dealers associated with the group in Argentina, since he believes that there will be investors interested in betting on this new brand.

Leapmotor, founded in 2015, is a young but ambitious company, specialized in the manufacturing of smart electric vehicles. Its headquarters are in Hangzhou, China, and its activities range from design to research and development, intelligent driving and battery manufacturing. In addition, it offers connectivity solutions based on cloud computing. In 2023, the company recorded sales of 144,155 vehicles, which represented an increase of 29.7 percent from the previous year.

On the other hand, Stellantis is currently the largest car seller in Argentina, with a market share of 29.9 percent in the first eight months of 2024, according to data from the Association of Automotive Dealers of the Argentine Republic (Acara). . The group has brands such as Fiat, Peugeot, Citroën, Jeep and DS in its portfolio, and locally manufactures two of the best-selling models: the Fiat Cronos and the Peugeot 208. In addition, it has production plants in El Palomar and Ferreyra, in Córdoba. , where it recently announced million-dollar investments to develop new models.