Zhejiang Leapmotor Tech Co

Stellantis CEO Antonio Filosa told an analyst conference on September 10, 2026 that the global auto industry has split into two distinct markets, saying, "We see clearly the world divided into two things: one is the United States, and then we have the rest of the world." Under the strategy, Stellantis relies fully on domestic engineering and development for its U.S. vehicles and does not plan to use its Leapmotor or Dongfeng partnerships for U.S. models. Outside the United States, including in Europe, the company is partnering with Chinese automakers Leapmotor and Dongfeng to localize production and share purchasing costs. The split comes as Washington scrutinizes automakers' ties with Chinese companies, and the Trump administration has criticized Ford over its European joint venture with China's Geely. Hedge fund count for Stellantis fell to 26 in the second quarter from 32 in the first, with position value nearly halving to $195.4 million from $423.6 million, while Ford's holders held steady at 50 with position value slipping to $1.02 billion from $1.12 billion.

Chinese automakers are scouting locations for production bases in Europe after the EU signaled it will introduce local content requirements. Alfredo Altavilla, BYD's adviser for Europe, told Reuters at the opening ceremony of a Denza premium brand dealership in Turin, Italy, that companies are focusing their efforts on inspecting existing auto assembly plants, which can start production faster than building factories from scratch. The European Commission is drafting a "Made in Europe" policy that favors industrial parts and products made within the bloc, and is expected to set minimum local content thresholds for EVs sold in the region, possibly as early as next year. BYD aims to acquire existing plants, take full ownership and then retrofit them; its first European passenger car plant in Hungary is in the early stages of production, and the company is expected to select a second European site within the year. Altavilla said that to grow while meeting EU regulations, BYD will eventually need "three assembly plants and one battery plant" in Europe, adding that Spain and France offer "clearly simpler situations" and are the "most feasible" options. Italy is a "second-best" choice because Stellantis is reluctant to sell plants, he said. Chinese manufacturers have already begun partnerships to share production lines at underutilized European plants: Leapmotor is teaming up with Stellantis in Spain, Dongfeng Motor with Stellantis in France, Geely with Ford Motor in Spain, and Chery has bought a plant in Spain previously owned by Nissan.

UBS forecasts that Chinese automakers will raise their global market share to 37% by 2030, up from 22% in the first half of 2026, as consumers increasingly accept Chinese car brands, supporting expansion beyond China. For the European market, UBS raised its forecast for Chinese brands' share to 20% by 2030 from 18%, compared with roughly 8% today, and growth is outpacing earlier expectations. A survey of 12,000 consumers by UBS Evidence Lab found that 36% of European respondents would consider buying an electric vehicle from a Chinese brand, with interest in Chinese brands in Europe rising by more than interest in Japanese and South Korean brands combined. Value for money was the most important factor, cited by 66% of those likely to buy a Chinese electric vehicle globally, while advanced technology was the second, at 61%. In its base case, UBS expects BYD, Geely, Chery, SAIC, Leapmotor and Xiaomi to be the Chinese manufacturers most likely to become major players in overseas markets. In a bull case, Chinese automakers' global market share could reach 45%, and 30% in Europe, by 2030, while a bear case could put it at 33% globally and 15% in Europe.

Sena Development Public Company Limited, or SENA, expects its business to improve in the fourth quarter of 2026 compared with the third quarter, driven by a large volume of pre-transfer sales, or backlog. Assistant Professor Dr. Kesara Thanyalakpark, Managing Director, said the company has a backlog of about 10 billion baht, most of which is expected to be recognised this year, with the remainder gradually recognised in the following year. At the same time, in 2026 the company is maintaining its plan to launch eight residential projects for sale, with a combined project value of more than 10 billion baht, comprising seven condominium projects and one low-rise project. Four projects were launched in the first half of this year, and the rest will be launched continuously over the remainder of the year. On the electric vehicle business operated by Sena Green Automotive Company Limited, or SENA Green Auto, which is a multi-brand EV platform and a dealer for three main electric vehicle brands, namely OMODA & JAECOO, LEAPMOTOR and DEEPAL, EV sales have grown outstandingly after global oil prices fluctuated and domestic retail oil prices rose, clearly improving EV demand and sales. At present, about 70% of SENA's revenue comes from the residential property development for sale group, and about 30% from non-property businesses, including rental warehouse projects, solar energy, the electric vehicle business, and the apartment rental and serviced apartment business.

Xiaomi is set to unveil a new foldable smartphone on September 7, intensifying competition with Huawei and Apple. The launch is seen as part of the company's strategy to strengthen its presence in the high-end market. Meanwhile, Alibaba has made a minor upgrade to its flagship AI model, and Tencent has officially launched its "WorkBuddy" open platform, with over 100 companies participating. In addition, among China's emerging EV makers' August sales, Leapmotor performed well, while Seres Group fell below 30,000 units for the second consecutive month.

Chinese automaker BYD Co. has inquired about taking over an idle Stellantis NV plant in the Toronto suburbs, according to Brampton Mayor Patrick Brown, who said BYD approached him about six months ago to discuss making buses at the factory. The plant, which has not produced vehicles since late 2023, was being retooled for the Jeep Compass until Stellantis halted that plan amid US tariffs on foreign autos. Brown also received inquiries from Leapmotor International, a joint venture between Zhejiang Leapmotor Technology Co. and Stellantis, and from an Italian automaker. Unifor, the union representing workers, said Stellantis is considering selling the plant, and Brown noted that global companies want Canadian manpower if the US trade stance persists. The future of the 40-year-old factory remains uncertain as President Donald Trump's 25% tariffs on foreign cars and trucks, with a possible increase to 50% in January, cloud the outlook for Canadian auto exports.

Jinfu Technology announced on the evening of August 27 that in the first half of this year, the company achieved operating revenue of 1.325 billion yuan, up 36.18% year-on-year, mainly due to increased customer order demand. Net profit attributable to shareholders of the listed company was negative 117 million yuan, down 1.94% year-on-year. The company said that although revenue grew, research and development expenses and financial expenses increased by 65.12% and 69.83% year-on-year respectively, offsetting the increase in operating gross profit and causing operating profit to widen its loss by 13.75% year-on-year. Among business segments, new energy business revenue grew 71.42% year-on-year, with aerogel insulation product revenue up 104.96% and energy storage battery CCS busbar integrated structural component revenue up 56.98%. Subsidiary Maizhi Technology expanded into AI server and robot-specific testing equipment, and revenue from such products has already surpassed its original consumer electronics testing business. In the auto parts business, the company's designated projects for Leapmotor, Huawei-affiliated vehicles, FAW Hongqi, and BAIC New Energy have entered mass production one after another, and related revenue is expected to grow significantly in the second half of the year.

Kaizhong Shares released its 2026 half-year report on August 26. First-half operating revenue was 387 million yuan, up 10.9% year on year, but net profit attributable to the parent was 30.59 million yuan, down 19.04% year on year. Net profit attributable to the parent after deducting non-recurring items was 21.22 million yuan, down 30% year on year. Net operating cash flow was 15.67 million yuan, down 80.2% year on year. Earnings per share were 0.11 yuan. Second-quarter revenue was 223 million yuan, up 17.4% year on year, and net profit attributable to the parent was 21.07 million yuan, down 16.6% year on year. The company said the overall trend in the automotive industry had a significant impact on its main business, and passenger car market sales data declined somewhat. However, the polyurethane damping component business won new projects from mainstream automakers such as BYD and Leapmotor, the lightweight pedal business made progress in electronic accelerator pedals, and the company successfully developed polyurethane products suitable for new energy vehicles and energy storage systems, which are expected to become a new growth driver.

Opel is expanding its partnership with China's Leapmotor to build a new SUV, tapping the Hangzhou-based company's expertise on electric vehicles and low-cost production while cutting 650 engineering jobs at its Ruesselsheim development centre. Stellantis, Opel's parent company, announced the cuts in April from a total workforce of 1,650 at the site, amid a wave of job cuts across the German auto industry. Opel boss Florian Huettl said the partnership would combine German industrial know-how with Chinese software expertise, noting Chinese carmakers captured 9 percent of the EU market in the first five months of 2026 and 10.5 percent in June. The workforce at Ruesselsheim has shrunk from a 1970s peak of around 42,000 employees to approximately 6,800 by the end of 2025, and the city is now seeking to diversify economically, including plans to transform 140,000 square meters of released industrial land into a green hydrogen technology hub.

Stellantis NV swung to a profit in the second quarter, reporting net income of €293 million compared with a €1.87 billion loss a year earlier, driven by rising demand in North America for models such as the Ram 1500 pickup truck. Adjusted operating earnings came in slightly below analyst estimates amid high raw-material costs and weak pricing in Europe, where competition from Chinese rivals is intensifying. Chief Executive Officer Antonio Filosa plans to spend some €60 billion through 2030 on dozens of new models, prioritizing the Jeep, Ram, Peugeot and Fiat brands while partnering with China's Zhejiang Leapmotor Technology Co. and Dongfeng Motor Corp. to fill underused European plants. In Europe, shipments increased 5% due to robust demand for smaller cars including the Fiat 500 and the Citroën C3 Aircross, though the operating margin remained below zero. Stellantis shares are still down 44% this year in Milan, the worst-performing stock in the Europe Stoxx 600 Index.

Chinese automakers BYD, Chery, and Leapmotor posted triple-digit registration gains in the European Union during the first half of 2026, as battery-electric vehicle registrations across the bloc jumped 40.5% year-on-year to 1.22 million units and claimed a 20.7% market share. BYD registrations surged 168.2% to 130,743 units, Chery jumped 268.7% to 84,987 units, and Leapmotor posted a more than fivefold increase of 526.7% to 48,261 units, while SAIC Motor rose 19.1% to 127,585 units. Tesla also strengthened its position with a 75.4% rise to 124,242 units. In contrast, legacy automakers lost ground, with Ford registrations falling 20.2% to 132,780 units, Nissan down 5.3% to 106,833 units, and Renault Group declining 4.2% to 620,250 units. Overall EU new car registrations rose 5.7% year-on-year, while the combined share of petrol and diesel vehicles fell to 29.7% from 37.8% a year earlier.

The 2026 Fortune China 500 list has been unveiled. The 36 companies in the vehicles and parts sector reported combined revenue of 940.21 billion US dollars for 2025, up 2.95 percent year on year, with total net profit of 29.15 billion US dollars, a jump of nearly 40 percent. BYD led the auto industry with revenue of 111.85 billion US dollars, ranking 26th overall, up one spot from 2025, and was the only automaker in the sector to surpass 100 billion US dollars in revenue. SAIC Motor ranked second in the industry with revenue of 91.3 billion US dollars, placing 36th overall, while net profit surged 507.1 percent to 1.41 billion US dollars. Geely Group came third with revenue of 87.87 billion US dollars, ranking 39th overall, but net profit fell 207.4 percent year on year to a loss of 897 million US dollars. Xiaomi ranked fifth among auto companies with revenue of 63.62 billion US dollars, placing 58th overall, and its smart electric vehicle business revenue exceeded 100 billion yuan for the first time. Leapmotor jumped 151 spots to 272nd place, making it one of the biggest risers among auto companies.

China's auto market is facing a severe downturn, with first-half 2026 passenger vehicle sales dropping 20.2 percent. The China Passenger Car Association has slashed its full-year sales forecast to a 14 percent contraction, down to 20.4 million units from the record 23.7 million units in 2025. Meanwhile, analysts at Citic CLSA expect full-year sales could shrink as much as 20 percent, with new energy vehicle sales falling 5 to 6 percent. Key pressures include higher oil prices, reduced government subsidies for new energy vehicles, and rising raw material costs, squeezing the industry's profit margin to just 3.4 percent in the first five months, with profits down 20 percent year-on-year. Analysts predict fierce competition will accelerate consolidation, leaving only 7 to 8 major players in China's electric vehicle market by 2030. Likely survivors include BYD, Geely, Leapmotor, Volkswagen, and Toyota. Exports remain a key support, with June passenger vehicle exports surging 82.3 percent year-on-year to 877,000 units.

Stellantis reported preliminary second-quarter 2026 vehicle shipments of nearly 1.6 million units, up 10% year-on-year. North America led the recovery with a 38% increase to 445,000 units, driven by new and refreshed models including the Ram 1500, Jeep Grand Wagoneer, Grand Cherokee, and Chrysler Pacifica, though part of the gain reflected inventory builds ahead of a planned summer shutdown. Enlarged Europe grew 5% to 762,000 units, including roughly 33,000 Leapmotor vehicles distributed in the region. South America, Middle East and Africa slipped 3%, largely due to the regional conflict. Full second-quarter results are scheduled for July 30.

Stellantis is pursuing new manufacturing partnerships in Italy, including potential agreements tied to its Maserati brand and future low-cost electric vehicles, Chief Executive Antonio Filosa said on Wednesday. Filosa told a parliamentary hearing in Rome that the automaker is evaluating two potential partners for Maserati-related projects to support activity at the Cassino and Modena plants, and dismissed speculation that Maserati could be sold. Stellantis is also finalizing a partnership to produce small, affordable electric vehicles at its Pomigliano plant near Naples, aiming to build at least two models there. The future industrial partnerships in Italy would follow a structure similar to Stellantis' existing agreements with China's Leapmotor and Dongfeng, with the group retaining a majority stake. The company last month unveiled a €60 billion investment plan through 2030, with Europe receiving around 40% of the planned spending and a commitment to invest €5 billion in research and development in Italy through the end of the decade.