Stellantis, the parent company of Chrysler, Fiat, and Peugeot, has announced a $1.6 billion investment in Chinese electric vehicle maker Leapmotor. The investment will give Stellantis a 20% stake in Leapmotor and will help the Chinese automaker expand its global presence.

Stellantis, the world's fourth-largest automaker, has reported that its EV sales grew 110% in the third quarter of 2023. The company also said that it is on track to meet its goal of having 75% of its sales in Europe be electric by 2030.

Stellantis, the automotive giant formed from the merger of Fiat Chrysler Automobiles and Groupe PSA, has unveiled a groundbreaking innovation that promises to transform the electric vehicle (EV) landscape: a two-speed transmission. This revolutionary technology addresses a fundamental limitation of EVs—their reliance on single-speed transmissions that limit performance and efficiency.

Stellantis, the automotive giant formed by the merger of Fiat Chrysler Automobiles and Groupe PSA, is reportedly considering a groundbreaking partnership with Chinese EV manufacturer Leapmotor. The prospective collaboration involves the establishment of an electric vehicle (EV) production facility in Poland, a move that underscores the rapidly evolving landscape of the automotive industry.