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Stellantis Said to Explore EV Production Partnership with LEAPMOTOR in Canada
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Stellantis is in talks with LEAPMOTOR (09863.HK) to produce electric vehicles (EVs) in Canada, although negotiations remain at premature stage, Bloomberg, citing people with the knowledge of the matter, reported. If the discussions ultimately lead to an agreement, it will mark the first major investment by China’s auto industry in Canada since Canadian Prime Minister Mark Carney reached an agreement with Chinese President Xi Jinping in January this year to lower tariffs on China-made EVs. However, US government officials have repeatedly warned Carney that Canada could face retaliation risks if the country is used as a backdoor for exporting Chinese vehicles to the US. Auto-translated by AI AASTOCKS Financial News |
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