Stellantis to debut Leapmotor's EVs in South Africa this year
The C10 is an electric SUV with a petrol engine used purely to charge the battery. More Leapmotor models are expected to be launched next year, including fully electric models, Mike Whitfield, managing director of Stellantis South Africa and Sub-Saharan Africa, said in a statement.
Leapmotor created waves with its recent rollout of the all-electric B10 SUV equipped with smart-driving features and lidar sensing technology for less than $18,000.
In 2023, Stellantis bought a 21% stake in Leapmotor for $1.6 billion. The two automakers also formed the joint venture Leapmotor International, in which Stellantis holds a 51% stake.
Leapmotor will help the world's fourth-largest automaker widen its range of affordable EVs, as it presses ahead with electrification at a time when other Chinese automakers including BYD (002594.SZ), opens new tab and Chery Auto are aggressively expanding into Africa.
"South Africa is a critical market for Stellantis, and we are fully committed to unlocking its potential through product, innovation and meaningful partnerships," Whitfield said.
Stellantis, which entered the South African market four years ago, is building a new plant in the country, with a maximum capacity of 100,000 vehicles by 2030. It plans to become the No.1 player in the Middle East and Africa region with one million vehicles sold by 2030, with 35% expected to be electric.
In 2024, it sold 500,000 cars in the Middle East and Africa.
With over 60% of the South African market concentrated below the 400,000 rand ($22,755) price point, Stellantis' Citroën C3 range is gaining strong traction, with the upcoming C3 Basalt set to complete a competitive lineup in the accessible B-hatch and SUV segments early next year, Whitfield said.
Stellantis will also launch the Citroën C3 Hola panel van, its entry into the growing commercial vehicle sector aimed at small business owners.
($1 = 17.5780 rand)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
2 hours ago
- Reuters
Ghana narrows fiscal deficit target after better-than-expected first half
ACCRA, July 24 (Reuters) - Ghana has narrowed its fiscal deficit target for 2025 after a better-than-expected first six months of the year, its finance minister said on Thursday, pledging to get public finances back on track. The West African country is emerging from its worst economic crisis in a generation, featuring turmoil in its cocoa and gold industries, a severe cost-of-living squeeze and a lengthy debt-restructuring process. But this year, key macroeconomic indicators have improved, with growth accelerating to 5.3% year-on-year in the first quarter and inflation falling to 13.7% in June, its lowest since 2021. The government now expects a fiscal deficit of 3.8% of Gross Domestic Product (GDP) this year, narrower than the 4.1% targeted in March, Finance Minister Cassiel Ato Forson told parliament during a mid-year review of public finances. In the first six months the deficit was 1.1% of GDP, ahead of the 2.4% targeted. Forson said economic growth could possibly exceed the March target of 4% and officials were hopeful they could hit the year-end inflation target of 11.9% ahead of schedule. "We have borrowed less than we planned, signifying strong expenditure control and fiscal discipline," Forson said. "This is a strong signal to the investor community and all stakeholders that the needed fiscal consolidation is happening here in Ghana and it will be sustained." In the first half of the year, total revenue and grants were roughly 3% short of target, but expenditure came in 14% below target. Forson said risks to the public purse included a shortfall in customs revenue, mounting wage pressures and smuggling of marine gas oil, adding Ghana was not out of the woods yet.
The Independent
3 hours ago
- The Independent
Elon Musk admits ‘rough' times ahead for Tesla as company focuses less on selling cars, more on robo-taxis
The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US Email * SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice Tesla shares fell on Thursday after CEO Elon Musk said the company could face a 'few rough quarters' as it transitions to a future focused less on selling cars and more on offering self-driving taxis. Many prospective buyers have been turned off by Musk's foray into right-wing politics, and the competition has ramped up in key markets such as Europe and China. Revenue dropped by 12 per cent and profit fell by 16 per cent as the electric vehicle maker reported another quarter of lackluster financial results. Revenues and profits have both fallen at Tesla ( AP ) Tesla faces the loss of the $7,500 EV tax credit and stands to make much less money from selling regulatory credits to other automakers after recent changes to federal tax law. President Donald Trump's tariffs on countries including China and Mexico will also cost Tesla hundreds of millions of dollars, the company said on its earnings call. Musk spent the call talking less about car sales and more about robo-taxis, automated driving software and robotics, which he says is the future of the company. But he acknowledged those businesses are a ways off from contributing to Tesla's bottom line. Tesla began a rollout in June of its paid robo-taxi service in Austin, Texas, and hopes to introduce the driverless cabs in several other cities soon. Musk told analysts that the service will be available to probably 'half of the population of the U.S. by the end of the year – that's at least our goal, subject to regulatory approvals.' 'We're in this weird transition period where we'll lose a lot of incentives in the U.S.,' Musk said, adding that Tesla 'probably could have a few rough quarters' ahead. He added, though, 'Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla's economics are not very compelling.' In early trading Thursday, Tesla share were down 8 per cent to around $305.
Auto Express
3 hours ago
- Auto Express
Incoming Congestion Charge change is a £75 million 'cash grab'
Proposed changes to the London Congestion Charge are set to raise tens of millions of pounds per year, with electric car drivers set to bear the biggest burden. An Auto Express Freedom of Information request submitted to Transport for London uncovered that the removal of the EV exemption to the Congestion Charge is expected to generate as much as £75 million per year – or even more if the proposed changes to the Cleaner Vehicle Discount are not implemented. Advertisement - Article continues below Such changes mean that while EVs will, from 2 January 2026, be subject to the Congestion Charge, they will be able to receive a 25 per cent discount (50 per cent for vans and other LCVs) if registered through the TfL Auto Pay system. Nevertheless, if such changes to the CVD aren't implemented as planned, EV drivers would be forced to fork out the full amount, increasing the total amount paid by everyone to TfL to a startling £83 million. It doesn't end there, however, as TfL also plans to increase the daily Congestion Charge rate from £15 to £18 from the beginning of 2026; this, covering both electric and ICE cars, is forecast to rake in at least an additional £40 million over five years, rising to as much as £55million. Skip advert Advertisement - Article continues below Combined, and taking into account overlaps with the aforementioned inclusion of EVs, TfL says it expects Congestion Charge revenue to grow from £240 million in the financial year 2024/25, to £320 million in 2026/27, essentially stuffing an extra £80 million into Sadiq Khan's pockets per year. Talking to Auto Express, a spokesperson for the AA said the association is 'bitterly disappointed that TfL is now picking on EV drivers,' pointing out how the 'incentive to get more people into zero emissions vehicles has now been swallowed up in a general cash grab.' 'London has done next to nothing to provide a park-and-ride facility on the outskirts of the city, but is happy to implement a Congestion Charge that makes people think twice about driving in,' the AA explained. This comes soon after TfL implemented tolls for the Blackwall and Silvertown tunnels — something, figures suggest, has reduced traffic by roughly 5,000 drivers per day. The Department for Transport has also decided to increase the Dart Charge Dartford Crossing toll by £1 in September; Transport Secretary, Lillian Greenwood, said current traffic levels at the crossing 'are well in excess of [its] design capacity, causing delays, congestion and journey disruption to drivers on the M25 and a range of knock-on impacts for local communities'. Did you know you can sell your car through Auto Express ? We'll help you get a great price and find a great deal on a new car, too . Find a car with the experts MG4 and MGS5 EV prices slashed in reply to Government Electric Car Grant MG4 and MGS5 EV prices slashed in reply to Government Electric Car Grant In order to boost sales, MG is announcing its own a £1,500 grant for some of its EVs Roll over diesel: EVs are now doing the big mileage in the UK Roll over diesel: EVs are now doing the big mileage in the UK The average UK electric car now covers more than 10,000 miles per year, a similar amount to the average diesel. Dacia's baby EV due in 12 months with a tiny £15k price tag Dacia's baby EV due in 12 months with a tiny £15k price tag Dacia's new model will be developed in double-quick time, and it'll be built in Europe to avoid China tariffs
