Smart and Sustainable Electric Mobility
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.
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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.
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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.
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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.
The post The main misconception about the CLTC range appeared first on CarNewsChina.com.
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.
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Leapmotor would have to sell at least 400,000 units a year to break even, CEO says
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In March, GAC Aion sold 40,016 vehicles, Leapmotor delivered 6,172 and Shenlan 8,568.
The first day of every month is the day when Chinese electric vehicle (EV) makers intensively announce their deliveries for the previous month, and CnEVPost highlighted leading companies, including NIO, XPeng and Li Auto, in separate articles.
For the other lesser-known EV companies, we wanted to use this article to record their delivery performance in March.
GAC's new energy vehicle (NEV) subsidiary, GAC Aion, saw a strong performance in March, with sales reaching 40,016 units, up 96.96 percent year-on-year and up 33.01 percent from February, according to data released today.
GAC Aion sold 80,308 vehicles in the first quarter, up 78.96 percent year-on-year.
On March 30, GAC Aion announced the magazine battery 2.0, which claims not to catch fire or explode even after a gunshot.
Leapmotor delivered 6,172 vehicles in March, down 38.64 percent from 10,059 in the same month last year but up 93 percent from 3,198 in February.
In the first quarter, the company delivered 10,509 vehicles, a decrease of 51.30 percent from the same period last year and down 55.41 percent from the fourth quarter.
The Leapmotor C11 series SUV received more than 10,000 orders in March, according to the company.
Leapmotor officially launched the C11 extended-range electric vehicle (EREV) on March 1, after the model was previously only offered in an all-electric version.
Yesterday, Leapmotor announced the signing of a non-binding memorandum of understanding with Qualcomm for a strategic partnership to build smart cockpit products based on the latter's latest-generation Snapdragon SA8295P platform.
Changan Automobile's NEV brand Shenlan delivered 8,568 vehicles in March, up 108.82 percent from 4,103 vehicles in February.
In the first quarter, Shenlan delivered 18,808 vehicles, a decrease of 22.85 percent from the fourth quarter of last year.
Shenlan currently offers only the SL03 sedan, which was unveiled on July 25, 2022 and began deliveries in September last year.
It officially debuted its first SUV, the Shenlan S7, a model similar to the Tesla Model Y crossover, on March 5. The Shenlan S7 is not yet available.
Smart delivered 5,911 vehicles in China in March, up 63.47 percent from 3,616 vehicles in February.
In the first quarter, Smart delivered 12,697 vehicles in China, an increase of 46.87 percent year-on-year.
Since deliveries began in September 2022, Smart has delivered a cumulative total of 21,909 vehicles.
Skyworth delivered 1,282 vehicles in March, down 13.14 percent from 1,476 vehicles in February. The company exported 517 vehicles last month.
In the first quarter, Skyworth delivered 3,946 vehicles, according to figures released by the company today.
Skyworth, a Chinese appliance manufacturer, released its first electric vehicle product in April 2021.
The company is one of those tracked by CnEVPost, but it has been putting deliveries and orders together in an incomprehensible way when it released delivery figures before this year.
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Analysts expect Leapmotor's sales to start improving gradually in the second quarter, meeting the company's guidance of selling more than 30,000 units in the quarter. | Leapmotor HK
Chinese electric vehicle startup Leapmotor surged on the Hong Kong stock market today, recovering almost all of its losses since going public.
Leapmotor rose as much as about 20 percent today to HK$39.2 a share, close to its highest price of HK$41 on the day it went public last September 29.
As of press time, that gain has eased back to about 16 percent, with a cumulative gain of about 27 percent so far this month.
There are no immediate factors driving the company's share price surge, though some recent developments are worth noting.
On March 21, Leapmotor released its annual results for 2022, showing it achieved revenue of RMB 12.38 billion ($1.8 billion) last year, up 295.4 percent year-on-year.
The company reported revenue of RMB 3.015 billion in the fourth quarter, up 116.16 percent year-on-year.
Leapmotor's deliveries in 2022 were 111,168 units, up 154 percent year-on-year. Of the total, 23,566 units were delivered in the fourth quarter, up 37.9 percent year-on-year.
The company's management said at the time that Leapmotor was targeting 200,000 unit sales in 2023, nearly doubling from 2022.
The effect of Leapmotor's price cut in March was affected by the price war in the Chinese auto industry, but the new orders will still start to pull full-year sales back up in the second quarter, said CITIC Securities analyst Yin Xinchi's team in a March 23 research note.
While sales are climbing, Leapmotor can keep its gross losses manageable and gradually narrow to near break-even through a series of cost-cutting measures and scale effects, the team said.
Leapmotor's gross margin in 2022 was -15.4 percent, better than the -44.3 percent in 2021. It had a gross margin of -6.9 percent in the fourth quarter.
The large improvement in both Leapmotor's revenue and gross margin in 2022 was mainly due to the growth in sales of the C series models and the obvious scale effect, the team said, adding that the company's average selling price of its products has increased with the product mix adjustment.
With the improvement of the sales network, overseas market expansion, and the application of new R&D results, Leapmotor's sales and profits are expected to further improve, Yin's team said.
The team expects Leapmotor's sales to start improving gradually in the second quarter, meeting the company's guidance of more than 30,000 units sold in the second quarter and revenue growth of more than 50 percent year-on-year.
In the third quarter, deliveries of the more profitable C01 extended-range electric vehicle (EREV) will begin, which is expected to further boost the company's sales and drive gross profit closer to break-even, the team said.
Leapmotor delivered 3,198 units in February, up 180.77 percent from 1,139 units in January and down 6.9 percent from 3,435 units in the same month last year, according to data released by the company on March 1.
Along with the delivery figures, Leapmotor announced the official launch of the C11 EREV, a rare shift back to internal combustion engines among Chinese electric vehicle startups.
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Leapmotor delivers 3,198 vehicles in Feb, officially launches EREV model
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