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The Associated Press

Jeep maker Stellantis plans to invest 1.5 billion euros in Chinese EV manufacturer Leapmotor

Leapmotor Stellantis Jeep China electric vehicle

Copyright 2021 The Associated Press. All rights reserved.

Stellantis plans to invest about 1.5 billion euros, or about $1.6 billion, in Leapmotor, a Chinese electric vehicle manufacturer, the companies said late Wednesday.

The European-based maker of Jeep and Ram and Leapmotor said in a joint statement that they have formed a strategic partnership and joint venture that aims to expand the Chinese EV maker’s sales both inside and outside of China.

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