Stellantis will introduce Leapmotor’s electric vehicles in South Africa this year
Stellantis (STLAM.MI) announced on Tuesday that it will launch a new business in South Africa beginning with the C10 in September and intends to sell Chinese-branded electric vehicles created by its partner Leapmotor (9863.HK).
The gasoline engine of the C10, an electric SUV, is only utilized to charge the battery. According to a statement from Mike Whitfield, managing director of Stellantis South Africa and Sub-Saharan Africa, further Leapmotor variants, including fully electric ones, are anticipated to be introduced the following year.
With the recent release of the all-electric B10 SUV with lidar sensing technology and smart-driving capabilities for less than $18,000, Leapmotor made waves.
For $1.6 billion in 2023, Stellantis purchased a 21% share in Leapmotor. Additionally, the two manufacturers established Leapmotor International, a joint venture in which Stellantis owns a 51 percent share.
As it pushes forward with electrification at a time when other Chinese automakers, such as BYD (002594.SZ), opens new tab, and Chery Auto, are rapidly expanding into Africa, Leapmotor will assist the fourth-largest automaker in the world in extending its selection of reasonably priced EVs.
“South Africa is a critical market for Stellantis, and we are fully committed to unlocking its potential through product, innovation and meaningful partnerships,” Whitfield stated.
Four years after entering the South African market, Stellantis is constructing a new plant there that will have a capacity of up to 100,000 vehicles by 2030. By 2030, it hopes to sell one million cars, of which 35% will be electric, making it the leading company in the Middle East and Africa.
It sold half a million cars in Africa and the Middle East in 2024.
According to Whitfield, Stellantis’ Citroën C3 range is gaining popularity, with over 60% of the South African market focused below the 400,000 rand ($22,755) price point. The incoming C3 Basalt is expected to complete a competitive lineup in the accessible B-hatch and SUV markets early next year.
The Citroën C3 Hola panel van, Stellantis’s first into the expanding commercial vehicle market targeted at small company owners, will also be introduced.
