Stellantis: Leapmotor future world leader in electric cars? The Chinese government believes in it and takes a stake!

For a long time, Leapmotor was perceived in Europe as just another Chinese start-up, ambitious but fragile, evolving in a saturated and ultra-competitive market. Ten years after its creation, however, the Chinese manufacturer seems to have changed dimension. And the signals sent out over the last few weeks are clear: Leapmotor no longer wants to simply survive, but to establish itself as a major global player in electric cars. An ambition now supported by both Stellantis... and by the Chinese state itself.

From "survivor" to global giant

At Leapmotor's tenth anniversary celebrations, founder, chairman and CEO Zhu Jiangming made no attempt to embellish the past. In an internal letter revealed by the Chinese press, he speaks bluntly of a decade marked by constant struggle, going so far as to speak of a journey "nine times out of ten close to death". But the message he sends to his teams looks to the future.

Leapmotor no longer sees itself as a mere "new force" in the Chinese automotive industry. Its stated aim is now far more ambitious: to become a global benchmark manufacturer of electric vehicles. And the figures put forward are dizzying. Zhu Jiangming is aiming for four million annual sales by 2035, a level comparable to that of some historic automotive giants.

An impressive growth trajectory

This ambition is not based on empty promises. Leapmotor's trajectory speaks for itself. After an almost confidential start in 2019, with just over a thousand deliveries, the brand has reached a spectacular milestone. In 2024, almost 293,000 vehicles were delivered, and in the first eleven months of 2025, Leapmotor has already exceeded 536,000 units.

The initial target of 500,000 vehicles for the year 2025 has been revised upwards, and internal projections now point to almost 600,000 sales for the full year. This would be enough to enable the automaker to achieve a positive annual result for the first time in its history. After several years of losses, Leapmotor has already posted two consecutive profitable quarters, a rare turnaround in the world of Chinese electric start-ups.

Stellantis, the first strong signal from Europe

Stellantis has not been immune to this rise in power. In 2023, the Franco-Italian-American group will invested 1.5 billion euros to take a 20 % stake in Leapmotorbecoming its main outside shareholder. Above all, Stellantis and Leapmotor created the joint venture Leapmotor International, 51 % controlled by Stellantis, responsible for exporting, marketing and even producing Chinese models outside China. For the first time, a major Western automotive group entrusted a Chinese manufacturer not only with its technology, but also with access to its factories, sales networks and brands. A true symbol of the shift underway in the global automotive industry.

The Chinese state enters the dance

But the real strategic turning point came at the end of December. Leapmotor announced a capital increase of 3.74 billion yuan, enabling the FAW Group, China's state-owned automotive giant, to take a 5 % stake. Behind FAW, the Chinese government has officially invited itself to the table. This move is not insignificant. It marks the institutional recognition of Leapmotor as a strategic player in the electric vehicle sector. For Stellantis, the consequence is immediate: its stake is slightly diluted, dropping from around 20 % to 19 %. But the stakes are above all political and geopolitical. Having the Chinese government as a shareholder in a key partner can reinforce industrial solidity... while complicating diplomatic and commercial balances, particularly in Europe.

Italy already at the heart of the Leapmotor project

For an Italian automotive news site, Leapmotor is not a distant player. For several months now, the Chinese brand has had a strong presence in the Stellantis ecosystem in Italy. Leapmotor prototypes and models have been tested and fine-tuned on the Balocco runwayAlfa Romeo and Maserati's historic test center. Italian engineers worked on the chassis settings, steering and roadholding of the T03 and C10, adapting them to European standards. This technical link with Italy reinforces the credibility of a much broader industrial project, which goes far beyond simply importing low-cost Chinese cars.

Barely a month ago, our site mentioned a rumour: the possibility thata future Fiat electric compact derived directly from a Leapmotor model. The Leapmotor B05, recently launched in China under the name Lafa 5, ticks all the boxes. Compact size, rear-wheel drive, ultra-aggressive pricing and, above all, an already amortized platform. According to several sources, this model could be produced in Europe, notably at the Stellantis plant in Zaragoza from 2026. A rebadging under a European name, possibly Fiat, is now being seriously considered.

An accessible, technically accomplished electric Fiat, developed from a Leapmotor base optimized by Italian engineers and produced in Spain, would be a powerful symbol of Stellantis' new industrial strategy.

Industrial opportunity or dependency?

With the entry of FAW, and therefore the Chinese state, into Leapmotor's capital, Stellantis finds itself indirectly linked to a partner where Beijing is now present. For Antonio Filosa, who will present Stellantis' new industrial plan up to 2026, Leapmotor represents both a unique opportunity and a delicate balance to manage. One thing is certain: Leapmotor is no longer a mere outsider. Backed by Stellantis, and now endorsed by the Chinese government, the Chinese brand is establishing itself as one of the most intriguing players in the global electric transition.