Stellantis and China's Leapmotor open orders for affordable EVs in Europe
Today at 07:12 AM
Stellantis and its China-based partner Leapmotor announced that orders for their affordable electric vehicles (EVs) officially opened in Europe.
Stellantis holds a 51% stake in its joint venture with Leapmotor. Stellantis also has exclusive rights to build, export, and sell Leapmotor products outside China.
The Stellantis and Leapmotor joint venture's TO3 compact car will be available to order in Europe at the end of September. The T03 will start at €18,900. The joint venture will also make the C10 SUV available in European dealerships next month. The C10 SUV will start at €36,400.
The T03's starting price makes it one of the most affordable electric vehicles in the European market. Earlier this year, Volkswagen announced plans to launch an EV in Europe starting at €20,000. Chinese automakers seem to be a step or two ahead of European automakers when it comes to launching affordable EVs.
The TO3 was initially supposed to be imported from China. It will later be assembled in Europe at Stellantis' Tychy plant in Poland. The joint venture may fully move the T03 production to its plan in Poland to avoid the European Commission's tariffs on China-made EV imports. The Commission is considering a tariff of 35.5% on EV imports from China, which would increase TO3's price.
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