Asia Tech Wire (May 8) -- Chinese electric vehicle startup Leapmotor (09863.HK) may set up its joint venture with jeep maker Stellantis next week, according to Chinese media outlet Cailianshe.

Wednesday's report, citing people familiar with the matter, said Leapmotor Chairman Zhu Jiangming and Stellantis Chief Executive Officer Carlos Tavares will appear at a joint press conference next week to announce the formation of their joint venture.

At the end of October last year, the Chinese firm announced that Stellantis planned to invest about 1.5 billion euros for a roughly 20% stake in it, while the two companies planned to set up a joint venture called Leapmotor International.

The joint venture will have exclusive rights to conduct export and sales operations to global markets excluding China, as well as exclusive rights to manufacture Leapmotor vehicles in local markets.