On May 14th, Stellantis Group and Leapmotor Motors announced that the two companies had passed all necessary approvals for the establishment of Leapmotor International B.V. (hereinafter referred to as Leapmotor International), and Leapmotor International, led by Stellantis Group, was officially established. The joint venture company is 51% owned by Stellantis Group and 49% owned by Leapmotor Motors, respectively.
Zero Run International is headquartered in Amsterdam, Netherlands, with Xin Tianshu from Stellantis Group's China management team serving as the CEO. The joint venture management team led by him is currently preparing for the successful launch of the T03 and C10 electric vehicle models in Europe. At the same time, Zero Run International also plans to launch the above-mentioned models in the Indian and Asia Pacific (excluding Greater China), Middle East and Africa, and South American markets starting from the fourth quarter of 2024.
Previously in October 2023, Stellantis Group and Leapmotor announced that Stellantis Group would invest approximately 1.5 billion euros to acquire approximately 21% equity in Leapmotor. In 2023, Zero Run Automobile ranked among the top three in the annual ranking of new power brands among Chinese electric vehicle companies. The above transaction also confirms that Stellantis Group and Zero Run Motors will establish a joint venture called "Zero Run International". The joint venture company has the exclusive right to export and sell Zero Run cars to all other global markets outside of Greater China, as well as the exclusive right to manufacture Zero Run car products locally. This partnership not only aims to further increase the sales of Leapmotor in China, the world's largest automotive market, but also relies on Stellantis Group's mature commercial layout in other global markets to vigorously increase the sales of Leapmotor brand in the local market.
Carlos Tavares, CEO of Stellantis Group, said, "The establishment of Zero Run International is a big step forward in solving the urgent global warming problem through the most advanced pure electric vehicles. Its electric vehicle models will compete with existing Chinese brands in major global markets. Leveraging Stellantis Group's extensive commercial assets, strength, and accumulation worldwide, we will soon be able to provide customers with highly competitive and technologically advanced electric vehicle products that exceed their expectations. Under the leadership of Xin Tianshu, Zero Run International has formulated convincing global commercial and industrial strategies to rapidly expand sales and distribution." The channel ultimately supports the strong growth of Zero Run Motors and creates value for both shareholders of Zero Run International.
Zhu Jiangming, founder, chairman, and CEO of Zero Run Motors, said, "The cooperation between Zero Run Motors and Stellantis Group is very efficient, opening a new chapter in the globalization and integration of China's intelligent electric vehicle industry. Based on the competitiveness of Zero Run Technology and products, as well as the assistance of Stellantis Group in overseas channels, services, marketing, and other aspects, we hope that users around the world can experience the superior intelligent driving experience brought by Zero Run products. We believe that this cooperation can accelerate Zero Run Motors to become a respected world-class intelligent electric vehicle enterprise.".
Zero Run International's electric vehicle products are considered a supplement to Stellantis Group's current technology and its iconic brand product lineup, bringing global customers more cost-effective travel solutions. With the help of Stellantis Group's global distribution channels, Zero Run International plans to launch Zero Run cars in nine European markets starting from September this year, including France, Italy, Germany, the Netherlands, Spain, Portugal, Belgium, Greece, and Romania. Zero Run International has appointed dedicated business leaders for the aforementioned markets and plans to expand to include Stellantis& by the end of this year; We have 200 sales outlets, including You Network, and will expand our sales network to 500 in 2026 to ensure that our customers can enjoy high-quality service at a high level. By the end of 2024, Zero Run International will also launch its products in Türkiye, Israel and French overseas territories in the Middle East and Africa, Australia, New Zealand, Thailand and Malaysia in India and the Asia Pacific region, as well as Brazil and Chile in South America.