(Reuters) – Stellantis is close to an agreement to take a 20% stake in Chinese electric vehicle (EV) maker Leapmotor, Bloomberg reported on Wednesday.
The two manufacturers are also discussing the creation of a joint venture as part of the transaction, according to the media outlet, which specifies that a partnership would allow Stellantis to manufacture and sell certain Leapmotor cars outside China.
Stellantis would also have access to spare parts and certain technologies from the EV manufacturer.
According to Bloomberg, the companies are ironing out the final details of the transaction and an announcement could be made in the coming days.
Contacted by Reuters, the automaker declined to comment on Bloomberg’s information but said it was examining various possibilities related to Chinese companies and electrification.
“As announced several months ago, we are studying different scenarios to seize commercial opportunities linked to the dynamics of Chinese manufacturers in the context of the electrification of the global automobile industry,” said a spokesperson for the group.
Leapmotor declined comment.
(Written by Akanksha Khushi in Bangalore, with Gilles Guillaume, Bertrand Boucey and Kate Entringer, edited by Tangi Salaün)
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