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Leapmotor

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Zhejiang Leapmotor Technology Co., Ltd.
Company typePublic
SEHK: 9863
IndustryAutomotive
FoundedDecember 2015; 8 years ago (December 2015)
FounderFu Liquan, Zhu Jiangming
HeadquartersHangzhou, Zhejiang, China
RevenueIncrease HK$ 18.14 billion (2023)[1]
Increase HK$ –4.57 billion (2023)[1]
OwnerStellantis (20%)
Number of employees
9,310 (2024)[1]
SubsidiariesLeapmotor International (49%)
Chinese name
Simplified Chinese浙江零跑科技股份有限公司
Hanyu PinyinZhèjiāng Língpǎo Kējì Gǔfèn Yǒuxiàn Gōngsī
Websitewww.leapmotor.com

Zhejiang Leapmotor Technology Co., Ltd., trading as Leapmotor (Chinese: 零跑汽车; pinyin: Língpǎo Qìchē; lit. 'Leap car'), is a Chinese startup automobile manufacturer headquartered in Hangzhou, China, specializing in developing electric vehicles. The company was founded in 2015, and sold its first vehicles in 2019. In 2023, Stellantis acquired 20 percent stake of Leapmotor, and plans to sell Leapmotor vehicles in Europe.

History

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Zhu Jiangming in 2023

Leapmotor was founded in December 2015 and is based in Hangzhou, China. On June 13, 2018, at CES Asia, Leapmotor announced that the first domestically made artificial intelligence (AI) chip, dubbed "Lingxin 01", has entered the integration verification phase. The AI chip was co-developed by Leapmotor and Zhejiang Dahua Technology Co., Ltd (Dahua Technology), and was expected to be tested on vehicles in the second quarter of 2019. The Lingxin 01 is designed for autonomous vehicles, and features the capability of deep learning and leading computing power.[2] The company vertically integrates high margin components by developing and building its own components such as electric traction motors, vehicle CPU, and LED lighting.[3]

In October 2018, Leapmotor announced plans to roll out 3 new models over the span of 2018 to 2021, including the S01, the T03 and the C11, based on the S, T and C vehicle platform respectively.[4]

In June 2019, the first product, the Leapmotor S01 electric 2-door coupe, is launched on the Chinese market. A prototype was shown at the 2017 Guangzhou Auto Show. At that time, the company had raised RMB 380 million in capital, and construction of the factory had started. The S01 was initially shown as the LP-S01 coupe earlier in 2018.[5] The first deliveries occurred of the S01 in June 2019.[6][7]

In May 2020, Leapmotor and state-owned Chinese automaker FAW forged a strategic partnership to jointly develop intelligent electric vehicle models. The agreement also involves the joint cooperation on R&D, manufacture, production and application of intelligent electric vehicle core parts, and the further research on the development of key basic technologies and the innovation of production measures.[8]

On May 11, 2020, Leapmotor officially launched its second mass-production EV, the Leapmotor T03 electric city car. The vehicle was launched with a total of 3 models, the price range after subsidy is 65,800-75,800 yuan (~US $9,280 – US $10,691). The Leapmotor T03 is equipped with a battery pack with a capacity of 36.5 kWh, and a 403 km (250 mi) NEDC cruising range.[9]

The Leap 3.0 Architecture platform showcased at the Auto Guangzhou 2023

In November 2020, Leapmotor officially launched the third mass-production EV, the Leapmotor C11 electric crossover, based on the 2019 C-More concept. The C11 is powered by dual electric motors jointly rated at 400 kW (536 hp) and 720 N⋅m (73.4 kg⋅m; 531 lb⋅ft) of torque. The Leapmotor C11 have around 600 km (373 mi) of driving range.[10]

In August 2023, FAW-VW, one of the Chinese joint venture of Volkswagen Group, entered discussions with Leapmotor to explore the potential acquisition of a platform for manufacturing new electric cars under the Jetta brand, specifically tailored for the Chinese market.[11]

Expansion and cooperation with Stellantis

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In October 2023, Stellantis expressed its interest in Leapmotor by acquiring a 20% stake valued at approximately EUR 1.5 billion. This strategic partnership led to the establishment of Leapmotor International, a joint venture company with a 51:49 ratio, facilitating the distribution and production of Leapmotor cars in global markets outside China, thereby supporting the company's expansion plans, notably in Europe. The announcement was made during the European premiere at IAA Mobility 2023 in September, where the first global product, the large SUV Leapmotor C10, was unveiled.[12]

In February 2024, Reuters reported that Stellantis was exploring the possibility of producing a Leapmotor model at the Italian plant in Mirafiori, Turin. However, a month later, it was decided that the Leapmotor T03 city car would be assembled at the FCA Poland plant in Tychy.[13]

In May 2024, Leapmotor and the Stellantis Group jointly announced the establishment of the Leapmotor International with a ratio of 51:49, controlled by Stellantis Group. The joint venture has the exclusive right to export, sell and manufacture Leapmotor cars to global market outside China. It will start sales in Europe from September 2024, covering Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain, Portugal and other countries. Starting from the fourth quarter of 2024, Leapmotor International will enter India and the Asia-Pacific , the Middle East and Africa (Turkey, Israel, French Overseas Territories) and South America (Brazil, Chile). Six new models will be introduced starting in 2025 with T03 and C10 launched first. In the next three years, Leapmotor International will launch at least one new model every year.[14][15]

In November, it is reported that Leapmotor International and Stellantis has cancelled the plan of manufacturing the B10 model in Poland and decided to switch its production to Slovakia and Germany.[16]

Products

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Current models

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Image Name Introduction
(cal. year) 		Vehicle description
T03 March 2020[17] City car, BEV
B10 October 2024 Compact SUV
C11 December 2020[18] Mid-size SUV, EREV/BEV
C01 May 2022[19] Mid-size sedan, EREV/BEV
C10 September 2023[20] Mid-size SUV, EREV/BEV
C16 April 2024[21] Full-size SUV, EREV/BEV

Discontinued models

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Image Name Introduction
(cal. year) 		Discontinued Vehicle description
S01 June 2019 2021 compact sport car, BEV

Concept vehicles

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Image Name Introduction
(cal. year) 		Vehicle description
C-More April 2019[22] Mid-size crossover SUV.

Sales

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A Leapmotor showroom in Shenzhen
Year Sales
2019 1,000
2020 11,391[23]
2021 43,121[24]
2022 111,168[24]
2023 144,155[25]

See also

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References

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  1. ^ a b c "Zhejiang Leapmotor Technology Co Ltd, 9863:HKG profile". markets.ft.com (Financial Times). 23 February 2024. Retrieved 25 February 2024.
  2. ^ "Leapmotor announces China's first homegrown autonomous driving AI chip". Autonews.gasgoo.com. 14 June 2018.
  3. ^ "The Big Read: Story of Leapmotor". CarNewsChina.com. 14 November 2021. Retrieved 3 June 2022.
  4. ^ "Leapmotor to roll out 3 new models over next 3 years". Autonews.gasgoo.com. 24 October 2018.
  5. ^ "Leap Motor LP-S01 – chiński elektryczny samochód sportowy [FOTO] • SAMOCHODY ELEKTRYCZNE". Elektrowoz.pl. 10 November 2017.
  6. ^ "Startup LeapMotor kicks off delivery of the S01 all-electric coupe on June 28". Autonews.gasgoo.com.
  7. ^ "Leapmotor's First Coupe EV S01 Start to Deliver". Chinapev.com. 1 July 2019.
  8. ^ "Startup Leapmotor, FAW Car to jointly develop smart EV models". Autonews.gasgoo.com. 9 May 2020.
  9. ^ "Chinese EV Startup Leapmotor Listed its 2nd EV, Leapmotor T03 goes on market". Chinapev.com. 12 May 2020.
  10. ^ "Meet the Leap C11, a dual-motor e-SUV slated for Guangzhou show premiere". Formacar.com. 1 November 2020.
  11. ^ "VW Group Interested In Leapmotor EV Platform For Jetta Brand: Report". Retrieved 28 October 2023.
  12. ^ "Leapmotor C10 unveiled in IAA Mobility as the brand's first global model". 4 September 2023. Retrieved 29 October 2023.
  13. ^ "Stellantis considering building Leapmotor EVs in Italy, report says". Reuters. Retrieved 23 March 2024.
  14. ^ "零跑国际合资公司今日成立，联手巨头 Stellantis 集团挺进欧洲汽车市场 - IT之家". www.ithome.com. Retrieved 14 May 2024.
  15. ^ "零跑国际合资公司正式成立 C10和T03将首先进入欧洲销售_汽车_中国网". auto.china.com.cn. Retrieved 14 May 2024.
  16. ^ "曝Stellantis和零跑汽车放弃在波兰生产第二款电动汽车". auto.gasgoo.com. Retrieved 13 November 2024.
  17. ^ "Chinese EV Startup Leapmotor Listed its 2nd EV, Leapmotor T03 goes on market". Chinapev.com. 12 May 2020. Retrieved 6 January 2021.
  18. ^ "Meet the Leap C11, a dual-motor e-SUV slated for Guangzhou show premiere". Formacar.com. 1 November 2020. Retrieved 6 January 2021.
  19. ^ Zhang/CnEVPost, Phate (11 May 2022). "Leapmotor unveils C01 sedan with cell to chassis technology". CnEVPost. Retrieved 6 July 2022.
  20. ^ Zhang/CnEVPost, Phate (4 September 2023). "Leapmotor unveils 1st global model, C10, in Germany". CnEVPost. Retrieved 5 September 2023.
  21. ^ 网易 (15 April 2024). "零跑C16申报图曝光 提供纯电版和增程版可选 采用6座布局". www.163.com. Retrieved 16 April 2024.
  22. ^ "LEAPMOTOR Brought Its First Electric SUV C-More to 2019 Shanghai Auto Show". Chinapev.com. 19 May 2019. Retrieved 6 January 2021.
  23. ^ "Hefei said to pump 2 billion yuan into EV startup Leapmotor". Gasgoo. Retrieved 13 April 2024.
  24. ^ a b Zhang, Phate (1 January 2023). "Leapmotor delivers 8,493 units in Dec, raises vehicle prices". CnEVPost. Retrieved 13 April 2024.
  25. ^ "Leapmotor boasts over 29% YoY surge in 2023 annual deliveries". autonews.gasgoo.com. Retrieved 13 April 2024.
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