«Either one will absorb the other, or one will disappear»: Stellantis and Leapmotor as seen from China

While in Europe, the partnership between Stellantis and Leapmotor is often presented as a “win-win” strategic alliance, the view from China is far more nuanced. Between admiration, mistrust and a feeling of industrial revenge, Chinese comments about this cooperation actually tell a deeper story: the tilting of the world's automotive center of gravity.

It all started with an official announcement from Stellantis. The European automotive group wants to go much further with Leapmotor. After simply distributing Chinese models in Europe, the two companies are now preparing joint developments, local production in Spain and further integration of supply chains. In other words, it's no longer just a matter of selling Chinese cars in Europe, but of manufacturing European cars... with a Chinese technological base.

«The center of the world's motor show will be Chinese».»

In China, many have remembered a phrase from Zhu Jiangming, founder of Leapmotor: «Today, Chinese automakers occupy the center of Chinese auto shows. In a few years» time, they will occupy the center of the world's auto shows."

This statement perfectly sums up the current state of mind of part of the Chinese automotive industry. Long considered outsiders, Chinese automakers now believe they have the technological edge in electric vehicles. And the partnership with Stellantis is seen as further proof that even the major Western groups now need China to remain competitive.

The future Opel electric SUV codenamed “O3U”, jointly developed by Chinese and German teams, symbolizes this new reality. Leapmotor will supply the electric platform and batteries, while Opel will take care of design, chassis tuning and the model's European identity. An almost historic reversal of roles. For decades, European automakers brought their (outdated) technology to China. Now, it's European engineers who come to China for their electrical know-how.

In China, Stellantis worries more than it reassures

But while many see this alliance as a Chinese industrial victory, opinions about Stellantis are particularly harsh. On social networks and in the Chinese media, the group is regularly described as an “empire in trouble”, plagued by internal problems.

Complicated governance, internal rivalries between the French and Italian clans, a lag in the electric sector, brands losing ground... Some Internet users have gone so far as to dub Stellantis “the alliance of losers”. It has to be said that the figures support this view. In 2025, Stellantis recorded a colossal net loss of 22.3 billion euros. European factories are idling, with utilization rates well below the standards considered profitable in the automotive industry.

For many Chinese commentators, Stellantis no longer has much choice: the group must quickly recover competitive electrical technologies, and Leapmotor represents a quick and relatively inexpensive solution.

«Either one will absorb the other, or one will disappear».»

But behind the official rhetoric of cooperation, some Chinese comments show a real distrust in the long term. One bluntly sums up this fear: «Over time, this is bound to create tensions. Either one company will absorb the other, or one of them will disappear.»

This sentence, widely relayed and approved on Chinese forums, reveals a paradoxical concern. Many fear that Leapmotor will reproduce, in reverse, what Western groups have long done in China: use a partnership to recover technology before gradually marginalizing their partner.

Many Internet users draw parallels with the former Chinese joint ventures with Volkswagen, PSA or General Motors. Back then, Western brands contributed their technology while retaining control of strong brands and value. Today, some fear that Europe is trying to do exactly the same thing with Chinese manufacturers.

Others, on the contrary, believe that Leapmotor is playing it smart. Thanks to Stellantis, the Chinese brand immediately obtains factories, a European distribution network, local production that bypasses customs duties, and faster credibility on the Old Continent. For them, it's a brilliant operation: using the European infrastructure to accelerate a global expansion that Leapmotor would have found much harder to finance on its own.

Europe becomes dependent on Chinese technology

This partnership is also seen in China as the symbol of a historic change: automotive Europe, once dominant, is beginning to depend on Chinese technologies. Several Chinese media outlets point out that this is probably the first time a major Western automaker has opened its own European plants to a Chinese brand to produce its vehicles locally. A huge symbolic step.

In the comments, some Internet users go even further: «Opel on the outside, Leapmotor on the inside», ironizes a user based in Germany. Perhaps most strikingly, Stellantis doesn't seem to be stopping there. Chinese media report that Xiaomi and XPeng are also in talks with Stellantis. At the same time, the group is also strengthening its ties with Dongfeng Motor (as a reminder Stellantis management has visited Dongfeng's factories on numerous occasions). Seen from China, this looks like a clear strategy: European groups are now looking to integrate Chinese technology into their own structures to survive the electric transition.

A decisive three- to five-year window

For Leapmotor, the stakes go far beyond current sales volumes. Zhu Jiangming dreams of a truly global manufacturer, with 60 % of production eventually taking place outside China. His ambition is not simply to export Chinese cars, but to transform Leapmotor into an international automotive player.

But Chinese observers also point out that the hard part starts now. Producing in Europe is just one step. Sustainably managing European factories, trade unions, local suppliers and an international brand image is another challenge altogether. That's why many believe that the next three to five years will be decisive. If the cooperation works, Leapmotor could become one of China's first truly global automakers. If it fails, it could also become yet another example of the difficulties of transcontinental automotive alliances.