Stellantis, the global automotive behemoth formed by the merging of PSA and FCA in January 2021, has chosen to drastically alter its approach in order to compete with the Dragon's ruthlessness. As a result, it was determined that it might be simpler and potentially more lucrative to invest directly in companies on the Asian continent, as opposed to continuing to challenge China. The business, managed by Carlos Tavares, is said to be close to a deal to buy roughly 20% of Chinese electric car manufacturer Zhejiang Leapmotor Technologies (FAW business). It would be the Franco-Italian automaker's latest effort to expand its footprint in Asia's biggest automobile market. Leapmotor, founded in 2015 and directed by CEO Zhu Jiangming, manufactured 111,000 automobiles in 2022, up from 10,000 in 2020 and 44,000 in 2021. It now has a 0.54 percent market share in China. The arrangement follows Stellantis' separation from GAC (Guangzhou Automobile Group) and the declaration in October 2022 that the firm established to manufacture and market Jeep-branded vehicles in China had entered bankruptcy. According to Bloomberg, Leapmotor and Stellantis are also talking about forming a joint venture.