Smart and Sustainable Electric Mobility
Leapmotor has cut the prices of the BEV versions of its C01 sedan and C11 SUV by up to RMB 20,000 in response to increasing competition in China's EV market.
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Geely announces AI advancements, Aston Martin appoints Geely CEO to board, Leapmotor hints at price cut and overseas collaboration, Porsche eyes $3.3 billion investment in China.
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Leapmotor is set to become the first Chinese car-making startup to license EV technology to an overseas company once the deal is finalized.
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Leapmotor previously said that all models of its C platform and future new platforms will have both BEV and EREV versions.
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In June, Leapmotor's flagship C-series model delivered more than 11,600 units, contributing more than 87 percent of total deliveries.
Leapmotor delivered a record number of vehicles last month, as the company's move to add extended-range electric vehicle (EREV) offerings appears to have worked to boost sales.
The company delivered 13,209 vehicles in June, surpassing the previous record of 12,525 vehicles last August, according to figures released today.
That's up 17.32 percent from 11,259 units a year ago and up 9.55 percent from 12,058 units in May.
Leapmotor delivered 33,993 vehicles in the second quarter, up 11.76 percent year-on-year and up 223.47 percent from the first quarter.
In the first half of the year, the company delivered 44,502 vehicles, down 14.41 percent from 51,994 in the same period last year.
By the end of June, Leapmotor had delivered 206,171 vehicles since its inception, according to data monitored by CnEVPost.
In June, Leapmotor's flagship C-series model delivered more than 11,600 units, contributing more than 87 percent of total deliveries, the company said today.
Of the total, more than 8,900 units of the flagship SUV model, the C11 series, were delivered, it said.
Founded in 2015 and headquartered in Zhejiang, Leapmotor's models on sale include the mini vehicle T03, the coupe model S01, the flagship SUV C11, and the flagship sedan C01.
Leapmotor has been seen as a budget EV maker for the past few years, with sales mainly contributed by the inexpensive T03, which currently has a starting price range of RMB 59,900 ($8,260) to RMB 89,900.
The C11, which went on sale September 29, 2021, and the C01, which went on sale September 28, 2022, are Leapmotor's flagship models, targeting the RMB 150,000 to RMB 300,000 range.
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Deliveries of Leapmotor declined significantly starting in the fourth quarter of last year, falling to 1,139 units by January of this year, the lowest since March 2021.
To reverse the sales decline, Leapmotor announced plans last year to release an EREV model to target the market for larger plug-in hybrids. All of Leapmotor's previous models were battery electric vehicles (BEVs).
On March 1, Leapmotor officially launched the C11 EREV and offered 2023 models for the previously available BEVs, allowing for lower starting prices. Deliveries of the C11 EREV began in March.
Leapmotor will release an EREV variant of its flagship sedan, the C01, in July-August of this year, the company's founder, chairman and CEO Zhu Jiangming said previously.
Starting with the B-series models, all future new Leapmotor models will be offered in both BEV as well as EREV versions, Zhu said.
In late March, Leapmotor management said the company was targeting 200,000 units in 2023, nearly double the number of units sold in 2022.
Leapmotor delivered 111,168 vehicles in 2022, up 157.80 percent from 43,121 in 2021.
($1 = RMB 7.2523)
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Leapmotor will enter the European market, and ZF will use its branding in Europe to help the NEV maker.
(Image credit: Leapmotor)
Leapmotor recently signed a strategic partnership agreement with German technology giant ZF Group to work together on a smart chassis for passenger cars, the Chinese new energy vehicle (NEV) maker said today.
The two will jointly develop smart chassis products to provide consumers with a more personalized, intelligent and comfortable and safe driving experience, a Leapmotor press release said.
ZF is continuing to strengthen its localization strategy and will work with more partners to drive the development of EVs in China toward the next generation of mobility, the German company said.
Leapmotor will also enter the European market in the future, and ZF will use its branding in the European market to help the NEV maker's overseas expansion, according to the release.
The press release does not provide anything more on Leapmotor's entry into the European market, and this is the first time we've seen the NEV maker mention the plan.
Leapmotor has been seen as a budget EV maker since its inception, with sales previously contributed mainly by the inexpensive EV T03, which currently has a starting price range of RMB 59,900 to RMB 89,900.
The C11, which went on sale on September 29, 2021, and the C01, which went on sale on September 28, 2022, are Leapmotor's flagship models, targeting the RMB 150,000 to RMB 300,000 range.
The company delivered 12,058 vehicles in May, up 19.75 percent from 10,069 in the same month last year and up 38.18 percent from 8,726 in April.
Leapmotor's local counterpart, Neta, another budget EV maker, has been aggressively entering international markets for the past two years.
A total of 4,000 Neta EVs were shipped abroad, the latest new batch after 3,600 units were sent to overseas markets in March, Neta announced on June 6.
Thailand is Neta's home base for expanding into the ASEAN market, and the company is also actively preparing to enter the European market, Neta said.
Neta will participate in the Munich Motor Show in Germany later this year, and the Neta GT sports car will be available in overseas markets in the not-too-distant future, it said.
Back at ZF, the German tech giant has been in the Chinese market since 1981 and has set up nearly 50 manufacturing companies, four R&D centers, nearly 240 after-sales service outlets in more than 20 cities and employs about 20,000 people in China.
On October 11, 2022, NIO and ZF signed a strategic cooperation agreement in Munich to cooperate in areas including steer-by-wire (SBW) products.
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That means Leapmotor has delivered 7,038 vehicles so far this month. The company delivered 12,058 vehicles in May.
(Image credit: Leapmotor)
Leapmotor has reached 200,000 cumulative deliveries since its inception, the Zhejiang-based new energy vehicle (NEV) maker announced today.
The company delivered 12,058 vehicles in May, up 19.75 percent from 10,069 in the same month last year and up 38.18 percent from 8,726 in April, according to information it announced earlier this month.
By the end of May, Leapmotor had delivered 192,962 vehicles since its inception, data monitored by CnEVPost showed. Today's milestone means that Leapmotor has delivered 7,038 vehicles so far this month.
Founded in 2015, Leapmotor's models on sale include the mini vehicle T03, the coupe model S01, the flagship SUV model C11, and the flagship sedan C01.
The C11, which went on sale on September 29, 2021, and the C01, which went on sale on September 28, 2022, are Leapmotor's flagship models, targeting the RMB 150,000 ($20,900) to 300,000 range.
On March 1 this year, Leapmotor officially launched the C11 extended-range electric vehicle (EREV), banking on the model's targeting a larger market to turn around weak sales performance.
The company's previous sales were mainly contributed by the inexpensive electric vehicle T03, which has led Leapmotor to be seen as a budget EV maker. The model's current starting price range is RMB 59,900 to RMB 89,900.
Leapmotor's higher-priced C11 EREV is priced from RMB 149,800 to RMB 185,800. The C11's all-electric version starts at RMB 155,800 to RMB 219,800.
Its flagship sedan, the C01, has a price range of RMB 149,800 to RMB 228,800.
In late March, Leapmotor management said the company is targeting 200,000 units in 2023, nearly doubling its sales from 2022.
Leapmotor delivered 111,168 vehicles in 2022, up 157.80 percent from 43,121 units in 2021.
($1 = RMB 7.1760)
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Leapmotor said the higher-priced C-series models contributed more than 83 percent of deliveries in May.
Leapmotor delivered 12,058 vehicles in May, up 19.75 percent from 10,069 in the same month last year and up 38.18 percent from 8,726 in April, according to data released today.
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Leapmotor did not release model-specific breakdown sales figures, but said deliveries of the higher-priced C-series models were up more than 38 percent from April, contributing to more than 83 percent of deliveries.
The Leapmotor C11 series delivered more than 7,100 units, the company said.
Founded in 2015, Leapmotor's models on sale include the mini vehicle T03, the coupe model S01, the flagship SUV model C11, and the flagship sedan C01.
The C11 BEV, which went on sale September 29, 2021, and the C01, which went on sale September 28, 2022, are Leapmotor's flagship models, targeting a range of RMB 150,000 ($21,110) to RMB 300,000.
On March 1, Leapmotor officially launched the C11 extended-range electric vehicle (EREV), banking on the model targeting a larger market to turn around weak sales performance.
The company's previous sales were mainly contributed by the inexpensive electric vehicle T03, which led Leapmotor to be seen as a budget EV maker. The model's current starting price range is RMB 59,900 to RMB 89,900.
Leapmotor's higher-priced C11 EREV is priced from RMB 149,800 to RMB 185,800. The C11's all-electric version starts at RMB 155,800 to RMB 219,800.
Its flagship sedan, the C01, has a price range of RMB 149,800 to RMB 228,800.
The Leapmotor website does not currently show pricing for the S01.
($1 = RMB 7.1042)
Leapmotor would have to sell at least 400,000 units a year to break even, CEO says
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Some Chinese EVs have amazingly long ranges according to the CLTC test cycle. An explanation why this is not necessarily wrong.
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Leapmotor's higher-priced C-series models contributed more than 83 percent of April deliveries.
Leapmotor saw significant sequential sales growth last month, and most importantly, the higher-priced models are starting to dominate sales.
The electric vehicle (EV) maker delivered 8,726 vehicles in April, down 3.97 percent from 9,087 a year ago, but up 41.38 percent from 6,172 in March, according to data released today.
Leapmotor did not release model-specific breakdown sales figures, but said the higher-priced C-series models contributed more than 83 percent of deliveries.
The company's full lineup is in the process of accelerating deliveries, it said.
Founded in 2015, Leapmotor's models on sale include the minivan T03, the coupe sports model S01, the flagship SUV model C11, and the flagship sedan C01.
The company's previous sales were mainly contributed by the cheap EV T03, which led Leapmotor to be seen as a budget EV maker.
The T03 currently has a starting price range of RMB 59,900 ($8,670) to RMB 89,900, the C11 extended-range electric vehicle (EREV) is RMB 149,800 to RMB 185,800, the C11 battery electric vehicle (BEV) is RMB 155,800 to RMB 219,800, and the C01 is RMB 149,800 to RMB 228,800. The Leapmotor website does not currently show prices for the S01.
As of June 30, 2022, Leapmotor had delivered a cumulative total of 79,220 T03s, 2,729 S01s, and 22,880 C11s, according to its Hong Kong IPO prospectus published in September 2022.
The C11 BEV, which was launched on September 29, 2021, and the C01, which was launched on September 28, 2022, are Leapmotor's flagship models, targeting the RMB 150,000 to 300,000 range.
On March 1, Leapmotor officially launched the C11 EREV, with hopes that the model will target a larger market than BEVs and thus turn around its weak sales performance.
($1 = RMB 6.9121)
Leapmotor would have to sell at least 400,000 units a year to break even, CEO says
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