PARIS, (Reuters) – The Stellantis-Leapmotor joint venture sees a deal between the European Union and China to cap imports of hybrid vehicles as an “interesting alternative to tariffs”, its CEO Danilo Annese said on Monday at the Paris Auto Show.
- Stellantis-led joint venture Leapmotor International will comply with any deal the EU and China reach, although details will need to be clarified in coming months
- Annese said market demand for EVs in Europe is gaining more traction than expected a year ago
- Demand is also increasing in countries such as Italy and Spain, where EV penetration has been traditionally lower, he added
- Annese said discussions were constantly ongoing with Stellantis over possible locations for future Leapmotor manufacturing sites in Europe
- Options include a plant in Madrid, but others are available, including out of Spain, he said
Reporting by Giulio Piovaccari; Editing by Kirsten Donovan
