On October 17, Leapmotor announced that the 500,000th car had rolled off the production line. What’s even more impressive is that it has been just 100 days since the company reached the 400,000 milestone.
In both August and September, sales of Leapmotor models exceeded 30,000. Furthermore, sales in the last week of September alone reached more than 10,000. Performance in the first nine months of the year is up 94.6% year on year, with sales exceeding 170,000.
Leapmotor was founded in 2015 and released its first model, the rather curious-looking S01 electric coupe, in 2019. A small three-door car, it went against everything logic dictated for a new entrant to the market. Sales were not particularly good, and the model is no longer available.
However, from the second model, the T03, a small 5-door city hatchback Leapmotor has gone from strength to strength. Currently, Leapmotor has four models in the C series consisting of three SUVs and one sedan. Of these, the C10 is the first to be designed as a global car and debuted at the 2023 IAA Munich Show.
Earlier this week at the Paris Motor Show, the company unveiled the first model, the B10 of the new B series. This series of cars in the Chinese market will be priced in the 100,000 to 150,000 yuan (14,050 – 21,050 USD) bracket, which is cheaper than the C series, which Is aimed at the 150,000 to 200,000 yuan (21,050 – 28,100 USD) range. According to the latest reports, Leapmotor will have four series of cars, namely A,B,C, and D, which are all aimed at different price segments of the market.
Last October, Stellantis acquired a 20% stake in Leapmotor. Since then, Stellantis has formed Leapmotor International, a joint venture in which they own the 51% controlling share. This will export link motor models and produce them outside China. Production of the T03 hatchback has already begun at the Stellantis plant in Poland. The B10 should be the next model to be produced in Europe starting next year.
Zhu Jiangming, Leapmotor’s CEO, says that sales for October should exceed 38,000. The company is listed on the Hong Kong Stock Exchange.
Source: Fast Technology
