Beijing (ZXZC)- On May 8, Jiangsu Changshu Automotive Trim Group (CAIP) and Chinese new energy vehicle maker Leapmotor held a signing ceremony to establish a joint venture, CAIP announced on May 16.

Photo credit: CAIP

Following the signing, the new joint venture will be established in Jinhua, Zhejiang Province. The two companies aim to develop, produce, and market sell automotive interior and exterior systems, including dashboards, door panels, pillars, and modular parts.

The collaboration between CAIP and Leapmotor began in 2020, with joint projects on interior components for Leapmotor’s T03, C11, C01, C10, and C16 models.

Leveraging their respective strengths, the two companies will focus on developing and producing lightweight and innovative material parts, molds, and intelligent equipment, thereby enhancing Leapmotor's supply chain and boosting CAIP's delivery capabilities and core competitiveness.

This joint venture represents a significant strategic move for Leapmotor in the new energy vehicle component sector. It is expected to optimize Leapmotor’s supply chain, improve the quality of components, and ensure their stable supply. For CAIP, the partnership will expand its business in the new energy vehicle components field and increase its market competitiveness.

Both companies expressed their commitment to leveraging their strengths and working closely to ensure the successful progress of the joint venture, aiming to accelerate the development of the new energy vehicle industry and provide consumers with superior and comfortable products.