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Jeep maker Stellantis is betting on a Chinese electric vehicle startup, but is it the right one?
Jeep maker Stellantis is betting on a Chinese electric vehicle startup, but is it the right one?
October 26, 2023, 11:41 a.m. ET
Buying from a Chinese automaker seems like a great answer to the challenge of making cheaper electric vehicles. If only it were easier to pick winners.
Chrysler Owner Stellantis said Thursday it was spending the equivalent of about $1.6 billion to buy a roughly 20% stake in Zhejiang Leapmotor Technology. It will gain two seats on the board of directors and become Leapmotor’s exclusive export partner through a European-based joint venture in which Stellantis will own 51%.
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