Stellantis set to buy 21% stake in China's Leapmotor for $1.6b

Stellantis set to buy 21% stake in China's Leapmotor for $1.6b

FILE PHOTO: A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo

Stellantis said on Thursday it is buying a 21% stake in EV maker Leapmotor in a $1.6 billion deal that will give it a fresh shot in China, the world’s biggest car market by sales, and the smaller Chinese carmaker a European foothold.

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