All posts by Francis Mitterrand

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Stellantis invests €1.5 billion in a Chinese company

Following Volkswagen’s $700 million deal with Chinese company Xpeng, Stellantis formed a joint venture with Leapmotor. The world’s largest conglomerate will have a 51 percent stake and will have the rights to export, sell and manufacture Leapmotor electric vehicles outside of China.

At a press conference in the Chinese city of Hangzhou, Stellantis CEO Carlos Tavares said: “We have not been so successful in China, so we prefer to rely on a Chinese partner. To win in China, it is better to win with a Chinese company.” This is a good strategic move by Stellantis, with which the group resets its strategy focused on electric vehicles after years of bad sales in China.

Stellantis intends to invest €1.5 billion to acquire approximately 20% of Leapmotor. This will be a good financial injection for the Chinese company to improve its sales results in the domestic market but also to expand its business outside of China. Shares of Leapmotor have risen about 22 percent in Hong Kong this year, and the company now has a market value of $5.4 billion. “Today it is a great milestone in Leapmotor’s history, and I am thrilled to witness this moment together with Mr. Tavares and his team. We believe in win-win partnerships formed by strong players in the fast-evolving environment. Working with Stellantis, we will continue to be innovative and creative in technology and business synergies and will bring Leapmotor EV cars to the global market,” said Leapmotor Founder Zhu Jiangming.

China is definitely the biggest electric car market in the world. However, large companies that have a well-developed global network, such as Tesla, raise the prices of electric cars, which threatens the business of smaller manufacturers. Leapmotor is one of them, and this cooperation will enable not only the survival of the company but also growth on a global level.

Source: Stellantis

News

Nissan Hyper Force Concept with 1,341 HP

Between October 26 and November 5, the Japan Mobility Show takes place, where many companies will present their new cars. One of them is Nissan, which has unveiled a high-performance electric supercar, the Nissan Hyper Force Concept.

A completely new design that not only pays homage to the current GT-R model, but also contains solid carbon and has great aerodynamic performance developed in cooperation with the Nismo department. Active aerodynamic components, movable front wings and both ends of the rear wing, as well as the design of the front section and rear diffuser give better airflow, providing better stability and handling. It is equipped with advanced self-driving technology and numerous sensors and hyper LIDAR.

The Hyper Force Concept is equipped with a 1,000 kWh battery that enables a power of 1,341 hp which, thanks to e-4ORCE technology, is sent to all wheels. The driver can use several driving modes, GT (Grand Touring – used as a mode for more comfortable driving and combines the screens on the steering wheel into a simpler interface) and R mode (Racing – provides more information valuable for racing and includes a red light in the cabin).

The car is also equipped with lightweight forged carbon rims that help cool the brakes but also improve aerodynamic performance. The cabin is illuminated with blue light and the seats are made of carbon and have four-point seat belts.

Source: Nissan

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Nissan Hyper Force Concept with 1,341 HP
News

Porsche sales results in nine months of 2023

After last year’s record sales results, the first half of 2023 brought better numbers that also continued in the third quarter. According to the Porsche AG report, the company recorded a 12.6 percent increase in sales revenue in the nine months of 2023.

“Across all model lines, our vehicles are in high demand worldwide. At the same time, exclusivity and individualization of our products are steadily increasing,” explains Oliver Blume, Chairman of the Executive Board at Porsche AG.

Despite the large investments and other expenses that the company had this year, when it celebrates its 75th anniversary, Porsche is heavily preparing for the premiere of four new models next year. This did not significantly affect the operating profit of the company, which increased by 9.0 percent, but the operating return on sales was lower by 0.6 percent (18.3 percent) compared to the same period in 2022 (18.9 percent).

“We benefit from a robust positioning in key global regions. We have seen above-average growth in Europe, North America as well as in the ‘Overseas and Emerging Markets’ region. Our business model is based on our unique positioning in the automotive industry. Unlike niche luxury manufacturers, we benefit from scaling effects within Porsche and cost advantages due to the cooperation with Volkswagen Group,” said Blume.

In the first nine months of 2023, Porsche delivered 242,722 vehicles, which is an increase of 9.6 percent compared to the same period last year. The electric Porsche Taycan was delivered to 27,885 customers, which is 11 percent more than in 2022. “We continue to benefit from high demand and positive product mix and price effects. We have always clearly exceeded this goal – despite difficult circumstances in the supply chain and sales regions, where development in terms of e-mobility can vary significantly,” he said Lutz Meschke, Deputy Chairman of the Executive Board and Board Member for Finance and IT.

Porsche has high expectations in 2024 as well, when sales revenue is expected to be in the range of 40 to 42 billion euros.

Source: Porsche