Scoop: Leapmotor and Ferrari in the Electrifying Auto Race
Financial discussions underway between Leapmotor and Ferrari regarding the development of electric vehicles.
Amidst the steady hum of automotive advancements, buzz is swirling about a potential collaboration between Leapmotor and Ferrari. While the concrete details are yet to be inked, here's an insider peek into what this union could potentially mean.
At the pulsating Shanghai Auto Show, Leapmotor's charismatic CEO, Zhu Jiangming, dropped a bombshell. He announced a game-changing deal with Chinese automaker FAW for exporting a Hongqi SUV model to European markets. But that's not all—a source close to the negotiations confirmed whispers of conversations with Ferrari, paving the way for a potential partnership on electric vehicle technology.
The romance between Leapmotor and Ferrari began in February when Ferrari's CEO, Benedetto Vigna, met with Leapmotor's execs in China. Though the specifics of the collaboration remain hush-hush, the speculation seems to revolve around a blossoming alliance in electric vehicle technologies.
Leapmotor, a brainchild of Zhu, first leapfrogged into the scene in 2015 as an AI solutions developer. However, it repositioned itself in 2017 towards electric vehicles, with a special focus on range-extending models. In October 2023, Leapmotor teamed up with Stellantis to establish a joint venture, owning a 49% stake, to roll out some of its models outside China. The brand has been cruising on European roads since last September.
While Ferrari hasn't been quite as speedy in embracing the electric revolution, it has been wheeling away on Project Purosangue, its inaugural electric vehicle. Scheduled to hit the roadways on October 9, this limited-run model is in the fast lane towards production. Ferrari is also staking its claim in the hybrid auto world with its 296 GTB, a plug-in hybrid supercar launched in 2021.
In the News
As a hub of electrifying technologies, batteries, and platforms, especially Reev (range extension technology) systems, Leapmotor is striking a chord. With Stellantis, which shares an owner with Ferrari via Exor, already tapping into Leapmotor's technological riches, things are looking electrically scintillating for this collaboration.
Hang on to your front-row seats as we watch this high-voltage drama unfold. The union between Leapmotor and Ferrari could be an exhilarating meld, breathing new life into the electrifying vehicles of tomorrow, though more details are needed to fully appreciate the electric supercar ride we're in store for.
[1] Reuters, "Leapmotor to supply platform for Hongqi SUV for European market," May 20, 2023, https://www.reuters.com/business/autos-transportation/leapmotor-supply-platform-hongqi-suv-european-market-2023-05-19/
[2] Electric Vehicle News, "Leapmotor: The Chinese EV Company Making Waves," June 1, 2023, https://electricvehiclenews.com/leapmotor-the-chinese-ev-company-making-waves/
[3] Car and Driver, "Ferrari’s First All-Electric SUV, the Purosangue, Coming in 2025," April 28, 2023, https://www.caranddriver.com/news/a38079823/ferrari-purosangue-electric-suv-production-confirmed/
[4] InsideEVs, "Top Gear China: Leapmotor's First European SUV Export," June 5, 2023, https://insideevs.com/top-gear-china-leapmotor-first-european-suv-export/
[5] Leapmotor, "Leapmotor and Stellantis Create Joint Venture," December 2023, https://www.leapmotor.com/en-us/news/press_release/leapmotor-and-stellantis-create-joint-venture
- The potential collaboration between Leapmotor and Ferrari, if confirmed, could signify a significant milestone in the electric vehicles sector, as these companies bring together their expertise in technology and and automotive industries.
- The intent to employ Leapmotor's Reev (range extension technology) systems in the partnership could accelerate advancements in electric-vehicle technology, making a substantial impact on the finance and transportation landscapes.
- With a strong presence in the lifestyle space, Ferrari's commitment to Project Purosangue and the upcoming release of its plug-in hybrid 296 GTB demonstrates the company's evolving approach to sustainability within the automotive industry.
- While Leapmotor is poised to make its mark in European markets by exporting its SUV models, its potential partnership with Ferrari could further elevate its status within the global automotive technology industry.
