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Last year, Stellantis announced its acquisition of a 21% stake in Leapmotor in a $1.6 billion agreement, marking its renewed focus on penetrating the lucrative Chinese automotive market, the largest globally in terms of sales volume.
In addition to the stake acquisition, the two companies unveiled a joint venture, granting Stellantis exclusive rights to manufacture, export, and distribute Leapmotor products beyond China. The production of Leapmotor electric vehicles (EVs) is slated to take place at Stellantis' Tychy plant in Poland, under the partnership agreement.