MILAN (Reuters) – Stellantis will produce up to 150,000 low-cost electric vehicles (EVs) at its Mirafiori complex in Turin, Italy, as part of a deal with Chinese carmaker Leap Motor. Automotive News Europe reported on Monday that the company is considering it.
The French-Italian automaker last year acquired a 21% stake in electric vehicle maker Leap Motor in a $1.6 billion deal. As part of that agreement, the two groups announced a joint venture. The joint venture will be 51% controlled by Stellantis and will give the European automaker exclusive rights to manufacture Leap Motor’s products outside of China.
Stellantis CEO Carlos Tavares said at the time that Liebmotor cars could be seen in Europe within up to two years.
Automotive News Europe, citing sources, reported that production of Lipo motor vehicles in Italy could begin as early as 2026 or 2027.
In response to a question when announcing full-year results last week, Tavares said the group could build Leap Motor cars in Italy “if there is a business case.”
“It only depends on our cost competitiveness and quality competitiveness. So it is possible to seize that opportunity at some point,” he said.
A Stellantis spokesperson said the company had nothing further to add to the CEO’s comments last week.
Current production by Stellantis in Mirafoli includes 500 BEV light vehicles.
By outsourcing the production of Leap Motor vehicles to Mirafiori, Stellantis will be able to meet the goal agreed with the Italian government to increase the group’s domestic production from 750,000 units last year to 1 million units by the end of 2010. there is a possibility.
The group said Italy’s production targets depend on several factors, including public car purchase incentives, the development of charging networks and falling energy costs.
(Reporting by Giulio Piovaccari; Editing by Sharon Singleton)