
Leapmotor Cars is owned by Zhejiang Leapmotor Technology Co. (HKEX: 9863), a publicly traded Chinese electric vehicle manufacturer headquartered in Hangzhou, China. Founded in 2015 by Zhu Jiangming, Leapmotor posted its first annual profit in 2025 with revenue of CNY 64.7 billion ($9.38 billion) and deliveries of 596,555 vehicles. Stellantis NV acquired a 20% stake in 2023 for EUR 1.5 billion and controls 51% of Leapmotor International, the joint venture for overseas sales. FAW Group acquired a 5% stake in 2025.
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Leapmotor Cars | Leapmotor | Wholly owned |
Leapmotor was founded in 2015 by Zhu Jiangming, a former executive at Dahua Technology, a Chinese surveillance technology company. Unlike many Chinese EV startups founded by automotive industry veterans, Leapmotor came from a technology background. The company focused on developing its own core EV technologies including battery management systems, electric motors, and electronic control units in-house, an approach Leapmotor calls "full-domain self-research."
The company launched its first vehicle, the S01 electric coupe, in 2019, followed by the T03 city car in 2020. The T03, a compact and affordable electric city car priced at approximately 60,000 to 80,000 yuan (roughly $8,000 to $11,000), became one of Leapmotor's best-selling models and demonstrated the company's ability to deliver competitive EVs at accessible price points.
Leapmotor listed on the Hong Kong Stock Exchange in September 2022. The IPO came during a challenging period for Chinese EV stocks, and the company's share price faced pressure in the months following the listing. The company reported a net loss of CNY 2.82 billion in 2024 but achieved a positive net profit for a single quarter one year ahead of schedule.
The landmark Stellantis partnership, announced in October 2023, was a significant validation of Leapmotor's technology and business model. Stellantis paid approximately EUR 1.5 billion for its 20% stake, and the Leapmotor International joint venture began selling Leapmotor vehicles in European markets in September 2024, starting with the T03 and C10 SUV models. The T03 was priced from EUR 18,900 ($20,990) and the C10 from a competitive price point in European markets.
In 2025, Leapmotor launched three new models: the B10 crossover, the B01 sedan, and the B05 hatchback. The B10, built on the LEAP 3.5 platform, targets the largest automotive market segment with a focus on "global quality + superior intelligence" and is priced at approximately CNY 105,000 ($14,500) in China. The B10 is the first model to feature the LEAP 3.5 architecture, which includes a super-integrated central control architecture supporting end-to-end high-end intelligent driving.
Leapmotor achieved its first annual profit in 2025, with revenue doubling to CNY 64.7 billion and deliveries reaching 596,555 vehicles, up 103% year-over-year. The company is targeting one million vehicle sales in 2026, which would imply growth of approximately 68% over 2025 volumes.
What does Leapmotor own?
Leapmotor owns the Leapmotor brand of electric vehicles, including models such as the T03 city car, B10 and C10 crossovers, and C16 family SUV. The company also owns its battery pack, electric motor, and electronic control system manufacturing operations. Through the LPMI joint venture with Stellantis, Leapmotor holds 49 percent of the international sales and manufacturing entity for its products outside Greater China.
Is Leapmotor publicly traded?
Yes, Leapmotor is publicly traded on the Hong Kong Stock Exchange under ticker 9863. The company listed in September 2022. Stellantis holds a 21 percent stake, making it the single largest shareholder. A domestic strategic investor acquired a 5 percent stake in 2025 for 3.74 billion yuan.
Who founded Leapmotor?
Leapmotor was founded in 2015 by Zhu Jiangming in Hangzhou, China. Zhu previously co-founded Dahua Technology, one of China's largest surveillance and security equipment companies. He brought expertise in technology manufacturing and systems integration to the electric vehicle industry. Zhu remains CEO and a major shareholder.
Where is Leapmotor headquartered?
Leapmotor is headquartered in Hangzhou, Zhejiang province, China. The company's manufacturing operations are primarily in China, with a planned CKD assembly plant in Spain scheduled to begin production of the B10 crossover in October 2026.
What is Leapmotor's relationship with Stellantis?
Stellantis acquired a 21 percent stake in Leapmotor in October 2023 for 1.5 billion euros. The two companies formed Leapmotor International (LPMI), a 51/49 joint venture (Stellantis/Leapmotor) with exclusive rights for Leapmotor sales and manufacturing outside Greater China. In May 2026, the companies announced plans to expand the partnership, including Leapmotor production at Stellantis plants in Spain and joint purchasing initiatives.
How many vehicles did Leapmotor sell in 2025?
Leapmotor delivered 596,555 vehicles in 2025, a 103.1 percent increase over 2024. This ranked first among China's emerging auto brands. The company exported 67,052 units, also the most among emerging Chinese EV makers. Cumulative deliveries exceeded 1.2 million units by the end of 2025.
Is Leapmotor profitable?
Yes, Leapmotor achieved its first annual profit in 2025, with net profit of 538 million yuan (approximately $78 million). This was a sharp reversal from a net loss of 2.82 billion yuan in 2024. Gross margins reached a record 14.5 percent. Leapmotor became the second Chinese emerging auto company to achieve full-year profitability, after Li Auto.
As an electric vehicle manufacturer, Leapmotor's products produce zero tailpipe emissions, supporting the transition to clean transportation. The company's focus on affordable EVs makes sustainable transportation accessible to mainstream consumers, accelerating EV adoption in China and international markets.
Leapmotor has benefited from carbon credit deals, which have bolstered profitability while supporting global decarbonization efforts. The company's carbon credit arrangement with Stellantis has been a key driver of growth and sustainable innovation. Carbon credits remain a significant revenue stream as Leapmotor targets one million sales in 2026.
The company implements green manufacturing standards at its production facilities, focusing on reducing energy consumption, minimizing waste, and optimizing resource utilization. Leapmotor incorporates recycled materials in vehicle components and implements energy-efficient production systems.
Through its partnership with Stellantis, Leapmotor benefits from cross-border collaborations that support global decarbonization while driving mutual financial benefits. The Leapmotor International joint venture demonstrates how international partnerships can advance sustainability goals through local manufacturing, which reduces the carbon footprint of vehicle transportation and distribution.
Leapmotor is not certified as a B Corporation as of July 2025. The company has not publicly disclosed specific carbon neutrality targets or timeline commitments. Cruelty-free, vegan, organic, and fair trade certifications do not apply to automobile manufacturers.
In March 2025, Uzbekistan temporarily halted certification of all Leapmotor passenger cars after tests on the C16 model revealed excessive broadband electromagnetic interference. Testing conducted at the state-owned Scientific and Testing Center for Quality Control of Uzbekistan (UzTest) found that the vehicle's electromagnetic interference levels exceeded the permissible limit by 16 times, violating UN safety standards. This non-compliance could affect the operation of electronic systems and, in some cases, lead to system failures. The certification suspension remained in effect until the manufacturer resolved the identified issues. Leapmotor representatives in Uzbekistan stated they were investigating the issue.
In Australia and European markets, Leapmotor faced criticism over the intrusiveness of its advanced driver assistance systems (ADAS). Early feedback on the C10 SUV found the safety systems too aggressive for Western drivers, with "incessant, overbearing safety chimes" that distracted drivers. CarExpert reported that the C10's ADAS alerts were too loud and intervention too aggressive, making the car "not suitable for Europeans." Leapmotor International responded by recalibrating the ADAS at Stellantis' Balocco proving ground in Italy, adjusting sound levels and intervention strength. The recalibrated European tune is now applied to all right-hand-drive and overseas versions, including for Australia. The company also introduced a quick menu to help customers switch off certain ADAS features and has continued issuing over-the-air software updates to improve the experience.
Reviewers have also criticized the Leapmotor B10's driving dynamics. The YouTube channel Telescope found that the B10's autonomous driving system was "too conservative and so slow, to the point that it's potentially dangerous," with the car going 20 km/h under the speed limit on freeway curves and forcing other drivers to overtake. The reviewer also criticized the car's touchy throttle response in sport mode and steering setup that was too eager to return to center. These reviews highlight the challenges Leapmotor faces in adapting its vehicles for international markets where driving expectations and road conditions differ from China.
The EU's imposition of additional tariffs on Chinese-made EVs in 2024 created challenges for Leapmotor's international expansion strategy. While the Stellantis partnership and planned local manufacturing in Spain are designed to address these tariffs, the regulatory environment for Chinese EVs in Europe remains uncertain and subject to political developments.
No major safety recalls of Leapmotor vehicles have been issued in China or Europe as of July 2025. The C10 achieved a five-star ANCAP safety rating in Australia, though reviewers noted that the pursuit of top-tier active-safety scores contributed to the overbearing ADAS behavior.
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| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Byd | China | 2010 | Premium | Asia pacific | All Genders | |
| Geely | China | 1997 | Mass market | China | All-ages | |
| Great Wall Motors | China | 1984 | Mass market | Global | All Genders | |
| Chery Automobile | China | 2022 | Mass market | Global | All Genders | |
| Stellantis | France | 1919 | Mass market | Europe | All Genders | |
| Stellantis | France | 2009 | Luxury | Europe | All Genders |
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Market Positioning: Leapmotor Cars competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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