Shulou(Shulou.com)11/24 Report--

CTOnews.com news on October 26, CTOnews.com learned from Zero official account that Stellantis N.V. (hereinafter referred to as "Stellantis Group") and Zhejiang Zero Technology Co., Ltd. (hereinafter referred to as "Zero Automobile") announced today that Stellantis Group plans to invest about 1.5 billion euros to acquire a 20% stake in Zero Automobile, which will make Stellantis Group a major shareholder of Zero Automobile.

The deal also confirms that Stellantis Group and Zero Motor will form a joint venture called "Zero running International (Leapmotor International)" with a proportion of 51% 49%. With the exception of Greater China, the joint venture has the exclusive right to export and sell to all other markets around the world, as well as the exclusive right to manufacture zero-running car products locally. The establishment of a global partnership between the two sides will be the first in the industry, with a cooperation between a world's leading carmaker and a new power electric car company from China on a global electric vehicle project.

(left: global CEO Carlos Tavares of Stellantis Group, right: Zhu Jiangming, founder, chairman and CEO of Zero Technology) Zero Motors said that apart from focusing on further increasing the sales of Zero cars in China, the world's largest auto market, the partnership will also rely on the mature business layout of Stellantis Group in other global markets to vigorously increase the sales of Zero cars in the local market. This will start with the European market. Stellantis Group intends to make use of Zero cars' innovative and excellent cost-effective electric vehicle ecology to help Stellantis achieve the electrification goals in the "Dare Forward 2030" strategic planning. at the same time, the two sides may further explore synergy for mutual benefit. The Zero International Joint Venture is expected to start its export business in the second half of 2024.

The two sides believe that Zero Motor's electric vehicle products complement the existing technology and brand product portfolio of Stellantis Group, and they will bring more cost-effective travel solutions to customers around the world. The Stellantis Group will have two seats on the Zero Automobile Board and the CEO of the Zero International Joint Venture will be appointed by the Stellantis Group.

Zero-running cars will deliver 111000 new energy vehicles in 2022, making it one of the first echelons of the new car-building forces in China. In the next three years, zero-running cars will build "pure electric + extended-range dual-power" smart cars from A to E based on one technical architecture and three vehicle platforms, officials said.

Zero running car is the first new energy vehicle company in the world to adopt CTC battery chassis integration technology in mass production models. The "four-leaf clover" central centralized electronic and electrical architecture launched this year enables seamless and efficient cooperation between the core components of smart electric vehicles. Thanks to the global self-research vertical integration capability of Zero cars, the company can launch competitive products that adapt to market changes as quickly as possible.

Stellantis Group was founded in early 2021 from the merger of two former Peugeot-Citroen and former Fiat Chrysler groups with a history of more than a century respectively. Stellantis Group currently has 14 iconic car brands and 2 mobile travel service units. The Group aims to provide everyone with environmentally friendly, safe and cost-effective mobile travel freedom. At present, the Group has customers in more than 130 countries and manufacturing operations in more than 30 countries. In 2022, Stellantis Group sold more than 6 million cars worldwide, with a net revenue of 179.6 billion euros and a net profit of 16.8 billion euros. In the first half of 2023, Stellantis Group achieved net revenue of 98.4 billion euros and net profit of 10.9 billion euros. With its adjusted operating profit margin of 14.4%, it continues to be one of the highest profit margins in the world's automotive industry.

Over the next decade, Stellantis Group will invest more than 50 billion euros in the electrification sector to achieve its electrification goal in the "Dare Forward 2030" strategic plan: that is, by 2030, all passenger cars sold by the Group in Europe will be pure electric vehicles, and 50% of passenger cars and light trucks sold in the United States will be pure electric vehicles. To achieve the above sales targets, the Stellantis Group will ensure access to approximately 400GWh's battery capacity reserve, which includes battery capacity support from its six battery manufacturing plants in Europe and North America. The Stellantis Group plans to become a net zero-carbon company by 2038, and only a single-digit percentage of its carbon emissions will need to be offset if all its direct and indirect carbon emissions are included. In addition to the strategic partnership announced with Zero Automobile, Stellantis Group will continue to work on its brands in China to implement a light asset business model in China.

The final completion of this transaction will depend on customary delivery conditions, including regulatory approval.

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