Chinese EV Costs Just $58 A Month, And Legacy Brands Should Be Worried

Chinese automaker Leapmotor is expanding its presence in Europe’s largest auto market thanks to its partnership with Stellantis, with a highly competitive electric vehicle lease program. Starting at just 49 Euros, or $58, the Leapmotor T03 City Car leverages Germany’s new EV subsidies to hit the market cheaper than some phones. Despite the low price tag, the vehicle comes equipped with standard perks including a rear-view camera, six airbags, and a panoramic sunroof.By combining Chinese components, localized German EV subsidies, and the existing Stellantis manufacturing and distribution infrastructure, Leapmotor has managed to drop the monthly payment to exactly half the cost of its direct …