Leapmotor C10 and T03 EU pricing is bad news for Tesla and Dacia
Leapmotor, in partnership with Stellantis, has unveiled two budget-friendly electric vehicles in Italy - the compact T03 city car and the C10 SUV. Stellantis hopes to stay ahead of the curve amidst increasing demand for sustainable transport options by using Chinese vehicles assembled in Europe under its umbrella.
The T03, which will be available from the end of September, starts at an eye-catching $21,000, undercutting many of its rivals in the segment. Meanwhile, the C10 SUV, set to hit dealerships in October, will start at $40,400, making for a very exciting electric SUV prospect.
Leapmotor plans to assemble the smaller T03 in Europe at Stellantis' Tychy plant in Poland. This will help the brand avoid EU tariffs on imported Chinese EVs, enabling the T03's agressive price tag. Stellantis CEO Carlos Tavares has also hinted at the possibility of manufacturing the larger C10 in the EU but has not provided further details.
Leapmotor's entry into Europe with these competitive models will undoubtedly put pressure on established players like Tesla and Dacia. The C10, for instance, boasts a WLTP range of 261 miles and undercuts the best-selling Tesla Model Y by a significant margin. However, the C10's DC charging speed maxes out at 84 kilowatts compared to the Model Y's 220 kilowatts.
The T03, with its range of 165 miles, primarily competes with the Dacia Spring, another budget-friendly EV. While the Spring currently starts at a similar price to the T03 in Italy, it faces additional EU tariffs due to its Chinese assembly. Future sub-$22,000 EVs from Renault and Citroen are also expected to heat up the competition in this segment.
Leapmotor International, the joint venture formed by Leapmotor and Stellantis, has ambitious plans for expansion. By the end of this year, it aims to start sales in 13 European countries, including Belgium, France, Germany, Greece, Italy, Luxemburg, Malta, the Netherlands, Portugal, Romania, Spain, Switzerland, and the UK. The cars will be sold through Stellantis' extensive retail network.
Leapmotor International has also confirmed plans to unveil the B10, a dedicated model for Europe, at the Paris auto show in October. While details remain scarce, the company has stated that the B10 will target "the largest market segment."
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