28 Oct, 23

Chinese EV Startup Secures Billion-Dollar Backing From U.S. Auto Giant

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While almost all other auto manufacturers, especially those from Japan, are mulling exits from China (where domestic brands are starting to dominate the EV market), Stellantis is doing the opposite and investing in an EV startup.  The U.S. based auto manufacturer who makes Jeep and Dodge brands said it would be investing 1.5 billion euros ($1.58 billion) into Chinese EV startup Leapmotor, CNBC reported this week.  Stellantis CEO Carlos Tavares said on Thursday morning: “Through this strategic investment, we can address a white space…

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