Multinational automaker Stellantis is partnering with Chinese automaker Leap Motor to expand sales of electric vehicles (EVs) overseas.
Tuesday, Stellantis announced The joint venture with Leapmotor will produce EVs for sale in Europe, the Middle East, Africa, India, Asia Pacific, and South America.
“The creation of Leap Motor International is a major step forward in leveraging cutting-edge technology to address the urgent global warming issue.” [EV] “The model will compete with existing Chinese brands in key markets around the world,” Stellantis CEO Carlos Tavares said in a statement.
Stellantis and Leap Motor joint venture scores approval in March from China’s regulatory agency overseen by the Chinese Communist Party (CCP). The approval suggests that the Chinese Communist Party wants Leap Motor to sell its cheap EVs outside of mainland China.
Automobile giant Stellantis CEO Carlos Tavares and Chinese electric vehicle manufacturer Leap Motor CEO Zhu Jiangming shake hands at a joint media event between Stellantis and Leap Motor on May 14, 2024 in Hangzhou, Zhejiang Province, eastern China. AFP via Getty Images).
The venture comes as Mr. Tavares is implementing large-scale layoffs in the United States.
Currently, Stellantis is laying off about 400 salaried engineering and software employees in Auburn Hills, Michigan, and plans to hire lower-wage workers in Brazil, India, Mexico and Morocco. Stellantis must pay U.S. engineers between $150,000 and $200,000, while automakers can pay engineers in low-wage countries just $53,000 a year.
industry people Said Automotive News reported that Stellantis is making gradual job cuts in the U.S. to avoid disclosure under the Warning Act.
Same goes for Stellantis. was fired About 200 autoworkers worked at the plant in Sterling Heights, Michigan, last month. Stellantis also laid off nearly 540 temporary workers across the U.S. in January, and its Jeep Wrangler plant in Toledo, Ohio, also laid off more than 340 workers in March.
At the same time, Mr. Tavares secured a $39 million compensation package, making him the highest-paid auto executive of Detroit’s Big Three.
John Binder is a reporter for Breitbart News. Please email jbinder@breitbart.com. Follow him on Twitter here.
