The Chinese brand Hongqi is considering launching production in Europe. Negotiations are underway with the Stellantis concern with the participation of Leapmotor. This scheme is due to the ownership structure: Stellantis controls 20% of Leapmotor, and FAW Group, the owner of Hongqi, controls 5%.
The terms of the deal are not disclosed. However, localization will allow Hongqi to accelerate its expansion in Europe and implement its plan to launch more than ten electric and hybrid models by 2028. Additionally, this will help avoid import duties and reduce capital expenditures.
Stellantis confirmed the negotiations, noting that the company is in dialogue with various partners to develop mobile solutions. However, specific agreements have not yet been announced.
The concern is also discussing cooperation with other Chinese manufacturers. Earlier reports indicated negotiations with Dongfeng, Xpeng, and Xiaomi. A possible format is the use of Stellantis' European factories for the production of Chinese models.
Hongqi, founded in 1958, remains one of China's oldest automotive brands. Today, the company is already present in several European countries and plans to open more than 200 dealerships by 2028.