KUALA LUMPUR: Stellantis Malaysia has officially introduced Leapmotor, a Chinese all-electric vehicle (EV) brand, marking the brand's debut in Southeast Asia, through the introduction of Leapmotor C10.
The entry of Leapmotor into Malaysia is driven by Leapmotor International, a 51:49 joint venture (JV) between Stellantis and Leapmotor, designed to expand Leapmotor's presence beyond China.
The JV gives Stellantis the exclusive rights for the export and sale, as well as manufacture Leapmotor products outside China.
Malaysia is the second market to introduce Leapmotor, following its launch in Europe last month.
This reflects Stellantis' commitment to bringing new energy vehicles (NEVs) to the region.
Stellantis Asean chief operating officer Daniel Gonzalez emphasised the company's commitment to making Malaysia its hub for Asean operations.
“Malaysia is a key market for Stellantis, and was chosen as the first market of entry for Leapmotor in this region because there is a strong demand for EV,” he said.
He also highlighted Stellantis' intention to add value beyond vehicle sales by focusing on local sourcing, engineering, research, and development.
"Stellantis is not just another company selling cars but an organisation focused on creating value for Malaysia through regional warehousing, local manufacturing, and talent development,” he said.
The Investment, Trade and Industry (Miti) minister Tengku Datuk Seri Zafrul Abdul Aziz applauded Stellantis’ decision to establish Malaysia as a regional manufacturing hub, which is expected to facilitate advanced technology transfers and improve exports.
“The collaboration between Stellantis and Leapmotor goes beyond the launch of a new EV. It supports our industrial reform goals of innovation, sustainability, and competitiveness in the automotive sector,” he noted.
Tengku Zafrul said as of the first half of 2024 (1H24), Malaysia has over 31,000 battery-electric vehicles (BEVs) on the road.
According to Malaysian Automotive Association (MAA), 6,117 BEVs were sold in the 1H24, marking a 112% increase from the same period last year.
Founded in 2015, Leapmotor has already sold over 470,000 vehicles in China, with monthly sales exceeding 30,000 in August 2024.
With a range of 477 km, the Leapmotor C10 priced at RM149,000 until Nov 30, 2024, after which it will retail for RM159,000.
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