Leapmotor Expands Stellantis Alliance, Posts First Profit (3)

Chinese electric carmaker Zhejiang Leapmotor Technology Co. posted its first annual profit on strong vehicle sales as it expands its partnership with Stellantis NV. The shares rose.

Leapmotor also said it is “actively exploring” cooperations on cars and components with the Franco-American-Italian carmaker, according to a Monday filing, noting that some projects had already entered “advanced negotiation stages.”

Closer collaboration will offer Leapmotor more global opportunities while also helping Stellantis save on development spending and provide a shortcut to better competition with China’s BYD Co. and SAIC Motor Corp.’s MG in Europe, as well as local rivals ...