Stellantis Mulls Joining Hands With Chinese EV Maker For Market Expansion: Report

Stellantis NV STLA is reportedly planning to join hands with a Chinese electric vehicle company in order to boost its presence in the world’s biggest auto market.

Stellantis is exploring options to potentially work with EV manufacturers, including Zhejiang Leapmotor Technologies Ltd., according to a report from Bloomberg.

Volkswagen AG VWAGY has also reportedly expressed interest in making a tie-up with Leapmotor.

Also Read: China To Shift From Auto Importer To Exporter, Says Morgan Stanley Analyst After Recent Tesla Price Cut

The report further noted the potential collaboration would suit the asset-light strategy that Stellantis’ CEO Carlos Tavares has proposed in China.

The incoming chief financial officer reportedly said it is important to figure out China strategy.

Also Read: Stellantis Posts 12% Revenue Growth In 1H Aided By Higher Shipments

Price Action: STLA shares are trading higher by 0.36% at $18.16 on the last check Wednesday.