Stellantis plans to invest $1.6 billion in Chinese EV startup Leapmotor as other automakers struggle in China's electric vehicle market.
While almost all other auto manufacturers, especially those from Japan, are mulling exits from China where domestic brands are starting to dominate the EV market, Stellantis is doing the opposite and investing in an EV startup. The U.S. based auto manufacturer who makes Jeep and Dodge brands said it would be investing 1.5 billion euros $1.58 billion into Chinese EV startup Leapmotor, CNBC reported this week.
3% market share in China, are accelerating their shift to electric vehicles. Recall we just wrote days ago about how Mitsubishi was exiting China and how other Japanese automakers were considering following suit. According to research by MarkLines cited by Nikkei this week, Japanese car manufacturers such as Toyota, Honda, and Nissan are lagging in the Chinese market this year. In the first three quarters of 2023, the trio's combined new vehicle sales were 1.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Currey secures full-time NASCAR Truck ride with Niece MotorsportsNiece Motorsports has announced Bayley Currey as the full-time driver of the No. 41 Chevrolet Silverado for the 2024 season.
Læs mere »
Nasa's billion-dollar asteroid mission thwarted by two pesky screwsIt travelled billions of miles, and now won't open.
Læs mere »
The billion-dollar brands spending big to go from stale to chicIconic brands including Coors and Jello-O are revitalising themselves to win over new audiences as consumer tastes change.
Læs mere »
Chinese fighter jet comes within 10 feet of US bomber at 'uncontrolled' speedA Chinese fighter jet came within 10 feet of an American B-52 bomber flying over the South China Sea on Tuesday, nearly causing an accident, the U.S. military said.
Læs mere »
Chinese fighter jet comes within 10 feet of US bomber at 'uncontrolled' speedA Chinese fighter jet came within 10 feet of an American B-52 bomber flying over the South China Sea on Tuesday, nearly causing an accident, the U.S. military said.
Læs mere »
Joe Biden could meet Xi Jinping next month after talks with Chinese ministerBeijing has yet to confirm if Mr Xi will travel to San Francisco for the annual Asia-Pacific Economic Cooperation summit.
Læs mere »