Latest news with #Leapmotor
South China Morning Post
6 hours ago
- Automotive
- South China Morning Post
Leapmotor rolls out smart EV at half the price of Tesla's Model 3 in push for global sales
Stellantis-backed Leapmotor has announced the latest phase in its global push by launching an electric midsize sedan that offers similar features to Tesla's Model 3 at less than half the price. The Hangzhou-based electric vehicle (EV) builder said the B01, priced from 89,800 yuan (US$12,542) in mainland China, would target markets around the world as it pursued new growth engines amid cutthroat competition at home. 'We are offering our answer to customers' demand for an exquisite, value-for-money mass market car,' Cao Li, Leapmotor's senior vice-president, told a press conference in Hangzhou on Thursday. 'We are confident that the new car has largely exceeded market expectations.' Deliveries to mainland Chinese customers would begin this month, but the company did not say when the new car would be sold overseas. Leapmotor developed the new model based on its upgraded architecture, known as Leap3.5, which supports smart driving and fast charging. An aerial view of Tesla's Megafactory in Shanghai, February 8, 2025. Photo: Xinhua The five variants of the B01 have driving ranges from 430km to 650km, with the top-end model priced at 119,800 yuan. The batteries can offer about 300km of mileage with 18 minutes of charging.
Zawya
7 hours ago
- Automotive
- Zawya
Stellantis to debut Leapmotor's EVs in South Africa this year
Stellantis plans to sell Chinese-branded electric vehicles developed by its partner Leapmotor in South Africa, starting with the C10 from September, the company said on Tuesday, 22 July. File photo: The logo of Zhejiang Leapmotor Technology, a Chinese electric vehicle maker, sits on its C10 electric vehicle at the opening of a company showroom in Hong Kong, China, on 11 June 2025. Reuters /Tyrone Siu/File Photo The C10 is an electric SUV with a petrol engine used purely to charge the battery. More Leapmotor models are expected to be launched next year, including fully electric models, Mike Whitfield, managing director of Stellantis South Africa and Sub-Saharan Africa, said in a statement. Leapmotor created waves with its recent rollout of the all-electric B10 SUV equipped with smart-driving features and lidar sensing technology for less than $18,000. In 2023, Stellantis bought a 21% stake in Leapmotor for $1.6bn. The two automakers also formed the joint venture Leapmotor International, in which Stellantis holds a 51% stake. Leapmotor will help the world's fourth-largest automaker widen its range of affordable EVs, as it presses ahead with electrification at a time when other Chinese automakers, including BYD and Chery Auto, are aggressively expanding into Africa. "South Africa is a critical market for Stellantis, and we are fully committed to unlocking its potential through product, innovation and meaningful partnerships," Whitfield said. Stellantis, which entered the South African market four years ago, is building a new plant in the country, with a maximum capacity of 100,000 vehicles by 2030. It plans to become the number one player in the Middle East and Africa region with one million vehicles sold by 2030, with 35% expected to be electric. In 2024, it sold 500,000 cars in the Middle East and Africa. With over 60% of the South African market concentrated below the R400k ($22,755) price point, Stellantis' Citroën C3 range is gaining strong traction, with the upcoming C3 Basalt set to complete a competitive lineup in the accessible B-hatch and SUV segments early next year, Whitfield said. Stellantis will also launch the Citroën C3 Hola panel van, its entry into the growing commercial vehicle sector aimed at small business owners.
Yahoo
21 hours ago
- Automotive
- Yahoo
Stellantis to introduce Leapmotor vehicles to South African market
Stellantis is set to expand its presence in the South African automotive sector with the introduction of Leapmotor brand EVs. The upcoming launch of the Leapmotor brand in South Africa follows the company's establishment in Mauritius. Initially, the C10 REEV will be available at selected Stellantis dealers from this September. Additional models are expected to be launched in 2026. Stellantis, which entered the South African market four years ago, claims to have become the second-largest original equipment manufacturer (OEM) in the Middle East and Africa (MEA) region. Stellantis managing director Mike Whitfield said that more than 60% of the South African market is concentrated below the R400,000 ($22,721) price point. In response, the company has been focusing on offering products that meet customer needs, such as the Citroën C3 range and the new Hola panel van. Whitfield said: 'To better leverage the strength of each brand, we will be amalgamating all finance partnerships under a single, comprehensive agreement between WesBank and Stellantis. "South Africa is a critical market for Stellantis, and we are fully committed to unlocking its potential — through product, innovation and meaningful partnerships.' In 2023, Stellantis invested €1.5bn ($1.75bn) in a 20% stake in Leapmotor. The joint venture (JV), Leapmotor International, in which Stellantis holds a 51% stake, has recently announced a 10% price reduction on its all-electric car prices in the UK market, anticipating the UK government's new BEV grants. Moreover, Stellantis signed a memorandum of understanding (MoU) in 2023 with South African government ministers to establish a manufacturing plant in the country. "Stellantis to introduce Leapmotor vehicles to South African market" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
2 days ago
- Automotive
- Business Insider
Stellantis Stock (NYSE:STLA) Gains With Leapmotor Push Into South Africa
Legacy automaker Stellantis (STLA) is having a bit of a back-and-forth moment when it comes to alternative-fuel vehicles. While it is advancing in electrics, it is pulling back on hydrogen. This combination left investors a bit nonplussed, and sent shares up fractionally in Tuesday afternoon's trading. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Electrics are advancing at Stellantis, as demonstrated by its move to take the Leapmotor brand down to South Africa. Starting this September, some South African Stellantis dealers will also sell Leapmotor electric vehicles, starting with the C10 SUV. The C10 has already had a successful debut in Mauritius, reports note, so advancing into South Africa seems like a sufficiently rational step. More models are set to follow over the course of 2025 and into 2026. In general, the Leapmotor line is on the rise. Leapmotor delivered 48,006 vehicles back in June. That not only proved a record by itself, but also represented the second consecutive month that Leapmotor sales broke records. That suggests an upward trend in the making. With several facelifted models coming to the market in the next few months, and some outright new models coming as well, Leapmotor may be able to establish itself as a go-to brand. Given that sales are already on the rise, word-of-mouth promotion may start to help as well. Oh, The Humanity Meanwhile, Stellantis is also pulling out of the hydrogen market. Its recent losses, thanks largely to tariffs and supply costs, prompted Stellantis to pull out of the hydrogen fuel cell market altogether, reports note. The hydrogen development program is now gone, and plans to produce hydrogen-powered vans for the commercial market are likewise out. Stellantis' Chief Operating Officer for Enlarged Europe, Jean-Philippe Imparato, noted that the technology was essentially a 'niche' market that ultimately had '… no prospects of mid-term economic sustainability.' Worse yet, even if Stellantis had managed to develop the vehicles effectively, a lack of refueling infrastructure—have you ever tried to buy hydrogen?—would make the vehicles largely useless in the field. Is Stellantis Stock a Good Buy Right Now? Turning to Wall Street, analysts have a Hold consensus rating on STLA stock based on four Buys, 10 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 53.93% loss in its share price over the past year, the average STLA price target of $10.90 per share implies 17.2% upside potential. Disclosure
The Herald
2 days ago
- Automotive
- The Herald
Stellantis to launch Leapmotor EVs in South Africa later this year
Stellantis plans to sell Chinese-branded electric vehicles (EVs) developed by its partner Leapmotor in South Africa starting with the C10 from September, the company said on Tuesday. The C10 is an electric SUV with a petrol engine used only to charge the battery. More Leapmotor models are expected to be launched next year, including fully electric models, said Mike Whitfield, MD of Stellantis South Africa and sub-Saharan Africa. Leapmotor created waves with its recent rollout of the all-electric B10 SUV equipped with smart-driving features and lidar sensing technology for less than $18,000 (R 316,865) . In Stellantis bought a 21% stake in Leapmotor for $1.6bn (R28.17bn). The two carmakers also formed the joint venture Leapmotor International, in which Stellantis holds a 51% stake. Leapmotor will help the world's fourth largest carmaker widen its range of affordable EVs, as it presses ahead with electrification while other Chinese carmakers including BYD and Chery Auto are aggressively expanding into Africa. 'South Africa is a critical market for Stellantis and we are committed to unlocking its potential through product, innovation and meaningful partnerships,' Whitfield said. Stellantis, which entered the South African market four years ago, is building a new plant in the country with a maximum capacity of 100,000 vehicles by 2030. It plans to become the No 1 player in the Middle East and Africa region with 1-million vehicles sold by 2030, with 35% expected to be electric. In 2024 it sold 500,000 cars in the Middle East and Africa. With more than 60% of the South African market concentrated below the R400,000 price point, Stellantis's Citroën C3 range is gaining strong traction, with the upcoming C3 Basalt set to complete a competitive line-up in the accessible B-hatch and SUV segments early next year, Whitfield said. Stellantis will also launch the Citroën C3 Hola panel van, its entry into the growing commercial vehicle sector aimed at small business owners.
