China’s Leapmotor could invest 200 million in Figueruelas to manufacture an electric SUV

The Stellantis plant in Figueruelas could produce zero-emission SUVs for the company’s joint venture with China’s Leapmotor. This was revealed by Bloomberg in recent hours following statements by the Chinese ambassador to Spain, Yao Jing. The financial news outlet also reported that President Sánchez plans to travel to China in the coming weeks.

Although there is no official confirmation from Stellantis Zaragoza, the harmony between Leapmotor and Stellantis is well known , having both formed Leapmotor International, a joint venture in which Stellantis owns 51%. 

As Yao Jing has explained , this investment is part of a series of projects totaling 3.3 billion euros by Chinese companies in Spain, including the collaboration between Chery and Ebro at the former Nissan plant in Barcelona and the construction of a gigafactory by CATL in Figueruelas at Stellantis itself.

According to the diplomat, the good relationship and “pragmatic” approach Spain has taken when negotiating with Beijing are enabling new investments from Asian firms in the peninsula. According to El Faro de Vigo, these 3.3 billion euros would be added to the approximately 7 billion euros that Chinese companies have already announced for the second half of 2024.