Aug (Reuters) – Italian carmaker Stellantis (STLAM.MI) is exploring options to partner with Chinese electric vehicle (EV) maker Zhejiang Leapmotor (9863.HK) as it tries to expand its presence in the world’s largest auto market, Bloomberg News reported on Wednesday.
Considerations for a tie-up are ongoing and no final decisions have been made, the report said, citing people familiar with the matter.
Global carmakers, including Germany’s Volkswagen (VOWG_p.DE), have also expressed interest in a potential tie-up with Leapmotor, the report added.
Stellantis did not immediately reply to Reuters’ request for comment, while Leapmotor declined to comment.
The Maserati maker’s CEO in July had said Beijing’s decision to restrict exports of two metals widely used in semiconductors and electric vehicles should not push Western companies to reduce their exposure to China.
Stellantis, the parent of brands like Jeep, Fiat and Peugeot, in July resumed construction of its EV battery plant in Canada, where Volkswagen and a consortium led by Ford Motor (F.N) are also building multibillion-dollar battery plants.
Reporting by Prerna Bedi in Bengaluru; Editing by Varun H K
