Leapmotor

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.

Leapmotor was founded in 2015 by Zhu Jiangming in Hangzhou. Zhu brought expertise from his background in technology and manufacturing, having co-founded Dahua Technology, a major Chinese surveillance and security equipment company. The initial focus was on developing electric vehicle technology, including battery systems and drivetrains, before launching production vehicles.

Leapmotor's first production vehicle was the S01, a two-door electric coupe launched in 2019. The S01 was a niche product that established Leapmotor's manufacturing capability but did not achieve large-scale sales. The company's breakthrough came with the T03, a compact city car launched in 2020. The T03 was priced competitively in the affordable EV segment and became one of Leapmotor's best-selling models.

The C11 crossover, launched in 2021, expanded Leapmotor's presence in the SUV segment. The C11 was offered in both fully electric and range-extended versions, catering to consumers with range anxiety. This dual-powertrain strategy became a hallmark of Leapmotor's approach and has been adopted across subsequent models.

Leapmotor listed on the Hong Kong Stock Exchange in September 2022 (ticker: 9863), raising capital to fund expansion. The IPO valued the company at approximately $7.2 billion. The listing provided resources for R&D investment, manufacturing capacity expansion, and new model development.

The Stellantis partnership, announced in October 2023, was a transformative event. Stellantis acquired a 21 percent stake for 1.5 billion euros, making it the single largest shareholder. The two companies formed Leapmotor International (LPMI), giving Stellantis primary responsibility for selling and manufacturing Leapmotor vehicles outside China. This partnership gave Leapmotor access to Stellantis's global dealer network, manufacturing sites, and regulatory expertise, providing a route into Western markets that most Chinese automakers have struggled to build independently.

In 2025, Leapmotor achieved two major milestones. First, the company delivered 596,555 vehicles, a 103.1 percent increase over 2024, ranking first among China's emerging auto brands. This was the second consecutive year of doubling sales. Leapmotor was the only Chinese emerging auto brand with monthly deliveries exceeding 70,000 units. Second, the company achieved its first annual profit of 538 million yuan, becoming the second Chinese emerging auto company to reach full-year profitability (after Li Auto).

In May 2026, Stellantis and Leapmotor announced plans to expand their partnership. Initiatives include adding production of the B10 crossover at Stellantis's Zaragoza plant in Spain (potentially starting in 2026), manufacturing an all-new Opel C-SUV BEV on a new line at the same plant using LPMI-sourced components, and allocating future Leapmotor products to Stellantis's Villaverde plant in Madrid. A CKD (completely knocked down) assembly plant in Spain is on track to begin production of the B10 in October 2026, with the B05 hatchback to follow in 2027. A supporting battery pack plant is due to reach mass production in July 2026.

Leapmotor's core product is electric vehicles, which produce zero tailpipe emissions during operation. The company's vertical integration of battery pack manufacturing allows it to control battery chemistry and production processes, though specific details on battery sourcing, recycling programs, and supply chain sustainability practices are limited in public disclosures.

The company does not publish independently verified carbon reduction targets through frameworks such as the Science Based Targets initiative (SBTi). Sustainability reporting is minimal compared to established Western automakers, reflecting the company's relatively recent founding and focus on growth and profitability.

The environmental benefits of electric vehicles depend on the electricity grid used for charging. In China, where coal remains a significant portion of the power mix, the lifecycle emissions of EVs are lower than internal combustion vehicles but not zero. Leapmotor's expansion into Europe, where electricity grids have lower carbon intensity, improves the lifecycle emissions profile of its vehicles.

Leapmotor faces several regulatory and geopolitical challenges. The European Union imposed tariffs on Chinese-made electric vehicles in 2024, targeting what the EU considers unfair subsidies. Leapmotor's LPMI joint venture and planned manufacturing in Spain represent a strategy to circumvent these tariffs by producing vehicles within the EU. The success of this approach depends on meeting "Made in Europe" requirements that are still being defined.

In China, the government reinstated a 5 percent purchase tax on new energy vehicles in 2026, ending a tax exemption that had supported EV adoption. Proportional trade-in subsidies also reduce support for the affordable models that form Leapmotor's core lineup. These policy changes create headwinds for domestic growth.

Geopolitical tensions between China and Western countries pose risks to Leapmotor's international expansion. Concerns about data security, connected vehicle technology, and supply chain dependencies have led several countries to restrict or scrutinize Chinese automotive products. Leapmotor's partnership with Stellantis, a European-headquartered company, partially mitigates these concerns by providing a Western corporate face for international operations.