The upcoming joint venture between Stellantis and Leapmotor International has made new progress. At noon on March 6th, Zhu Jiangming, Chairman of Zero Run Motors, revealed on social media that Zero Run International has quickly established an executive team.
Last October, Lingpao Automobile and Stellantis Group jointly announced the establishment of a joint venture called "Lingpao International" with 49% and 51% equity ratios. Except for Greater China, the joint venture company has the exclusive right to export and sell to all other markets worldwide, as well as the exclusive right to manufacture Zero Run automotive products locally.
The first model of Zero Run Motors to enter the overseas market is the Zero Run C10, which will be promoted in the European market through the Stellantis Group's network. Currently, C10 is undergoing the EU market certification process, with the initial market covering major European countries such as Germany, France, Italy, and Spain, and will gradually expand to more countries.
Zero Run will maintain its business model of building local marketing networks overseas, including financial and insurance integration. Zhu Jiangming previously stated that adopting this model may have a relatively slow expansion speed in the early stage, but it is beneficial for subsequent development.
The collaboration with Stellantis will provide assistance for Zero Run's overseas journey. Zero Run believes that the support provided by Stellantis is conducive to enhancing Zero Run's familiarity with overseas markets, including faster understanding of regulatory restrictions and sales network channels in various regions. It is also expected to improve its delivery system for obtaining parts.
Currently, the European Commission is conducting a countervailing investigation on electric vehicles produced in China, which brings uncertainty to a group of Chinese new energy vehicle companies, including Zero Run, seeking to expand overseas. According to reports, the European Commission announced on the 5th of this month that it plans to begin customs registration of pure electric vehicles imported from China for future traceability and measures.
Faced with potential unfavorable factors, Cao Li, Senior Vice President of Zero Run, expressed confidence in the internationalization development of Zero Run. In his view, from a long-term perspective, users will choose to use electric vehicles with lower costs rather than gasoline models, and political resistance cannot shake the essential needs of users.
According to Cao Li, the company's 5-year overseas product plan has been formed. Zero Run will try its best to meet the needs of local users in Europe, and on this premise, maximize the use of platform scale for cost reduction.
Earlier, there were reports that Stellantis Group was considering producing pure electric vehicles for Zero Run at its Italian factory, with an expected annual production of 150000 units, possibly as early as 2026 or 2027. In response, Zero Run Motors stated that discussions on various business cooperation between the two sides are still ongoing.
Zhu Jiangming revealed in recent media interviews that in addition to Stellantis using Zero Run components, more projects will be implemented in 2024.