Categories: Business NewsFDITech

Stellantis Launches Leapmotor in Malaysia, Debuting New All-Electric Brand in Asean

Stellantis has introduced Leapmotor, a new all-electric brand, in Malaysia with support from the Ministry of Investment, Trade and Industry (Miti). The launch of the Leapmotor C10 underscores Stellantis’ commitment to innovative multi-energy vehicles. The expansion is facilitated by a 51:49 joint venture called Leapmotor International, granting Stellantis exclusive rights to export and manufacture Leapmotor products outside China.

Stellantis Drives Industrial Innovation

International Trade and Investment Minister Tengku Datuk Seri Zafrul Abdul Aziz stated, “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 under both the National Automotive Policy and the New Industrial Master Plan 2030 (NIMP 2030).” He noted the launch enhances Malaysia’s automotive capabilities.

The Malaysian Automotive Association reported a 112% increase in battery-electric vehicle (BEV) sales in the first half of 2024, with 6,117 units sold. Gonzalez added, “Malaysia is a key market for Stellantis… because there is a strong demand for EV. Additionally, Miti and Mida have been very supportive in driving adoption of NEVs through various incentives to achieve the country’s net zero emission goals by 2050.”

Stellantis also plans local assembly of multi-energy vehicles at its Gurun facility in Kedah and aims to contribute to the local supply chain and job creation. Following its merger in 2021, Stellantis has positioned the Gurun plant as a regional manufacturing hub and established a National Sales Company in Malaysia to oversee marketing and aftersales.