Another Chinese EV brand targets Australia market with low-cost electric hatchbacks

A newly emerging Chinese brand known as Leapmotor has forged an alliance with global car major Stellantis and plans to introduced a suite of low-cost electric hatchback and SUVs into multiple markets, including Australia.

The Stellantis group that already owns popular global brands like Jeep, Peugeot, Fiat, Citroen and more, and will hold a 51 per cent share in the joined venture to be known as Leapmotor International, with the first low cost EVs to be brought to Australia before the end of 2024.

The new venture follows news of other Chinese brands targeting the Australia market, including Xpeng, and comes as the Biden administration effetively closes the door on Chinese EVs by doubling the import tariffs. As Daniel Bleakley wrote earlier this week, that could mean more low-cost EVs coming to Australia.

Leapmotor International will begin operations in Europe by September 2024, and plans  more than 200 points of sales throughout multiple European countries by that date. This will ramp up to 500 points of sales by 2026 across France, Italy, Germany, Netherlands, Spain, Portugal, Belgium, Greece and Romania.

In Europe, Leapmotor International will start with two electric models in its lineup. This will include the Yaris-sized and extremely low cost T03, and the C10, a bigger SUV.

The T03 is a small electric hatchback that is offered in China at prices starting at the equivalent of $A12,780. It offers up to 265 km of WLTP range. In the Chinese market, it comes equipped with a 36.5 kWh battery pack. 

This pack powers a 55 kW motor that drives the front wheels and offers 155 Nm of torque which is plenty for inner-city driving. When it comes to size, it’s slightly smaller in length than a Toyota Yaris but is longer than a Kia Picanto.

On top of the T03, the C10 is the second model heading to Europe under this partnership. It is a larger family SUV and has received a 5-star Euro NCAP safety rating. It’s capable of getting up to 420 km of WLTP range on a single charge. In the local Chinese market, the pricing of this model starts at under $A27,000.

The company has also indicated that it will be launching into multiple non-European markets including those in Middle East and Africa (Turkey, Israel and French Overseas), India & Asia Pacific (Australia, New Zealand, Thailand, Malaysia and India), and South America (Brazil and Chile).

The company also plans to release at least one new model every year, starting with another SUV in 2025.

The partnership with the Stellantis Group came after the automotive giant invested €1.5 billion to acquire approximately 21% equity in Leapmotor back in October 2023.

The partnership was unique as it would allow Leapmotor to expand exclusively with Stellantis Group and have access to a vast distribution network to help bring its EVs and production to markets outside of China.

“The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models that will compete with existing Chinese brands in key markets around the world,” Stellantis CEO Carlos Tavares said in a statement.

Jiangming Zhu,  the founder, chairman and CEO of Leapmotor said the partnership will open a new chapter in the global integration of China’s intelligent electric vehicle industry.

“Leveraging Leapmotor’s cutting-edge technology and products, along with Stellantis’ support in areas such as overseas channels, services, and marketing, we hope that users around the world can experience the exceptional driving and riding experience brought by Leapmotor products,” he said.

“We believe that this cooperation can give Leapmotor a boost to become a respected world-class intelligent electric vehicle company.”

The local launch is expected to be in the fourth quarter of this year. More information on the Australian lineup, pricing, specs and launch dates will be released in the coming months.