China auto giant FAW to invest in Stellantis-backed Leapmotor, report says

Summary: China FAW Group’s equity investment in Leapmotor is nearing final stages, anticipating a signing this year. Leapmotor’s CEO Zhu Jiangming confirmed discussions but emphasised the intention to maintain control. FAW plans to acquire approximately 5% of Leapmotor, down from initial estimates of 10%. Despite investment pressures, Leapmotor’s financial performance remains strong, showcasing significant revenue growth and profitability predictions.

Brands mentioned: China FAW Group, Leapmotor, Stellantis Group, Changan Auto.