It's a sharp rebound for Leapmotor after deliveries dipped in February because of the Chinese New Year holiday.
Chinese electric vehicle startup Leapmotor delivered 10,059 vehicles in March, up 909 percent year-on-year and up 193 percent from February, data it released today showed.
It's a sharp rebound for the company after deliveries dipped in February because of the Chinese New Year holiday, bringing first-quarter deliveries to 21,579 vehicles, up 410 percent year-on-year.
Founded in 2015, Leapmotor currently sells the T03 mini car and the S01 coupe, and its flagship SUV, the C11, was launched last October.
The company did not provide a breakdown of deliveries for these models.
(Image credit: Leapmotor)
Leapmotor filed for a Hong Kong IPO last month and submitted its first version of a prospectus.
The prospectus did not disclose the number of shares Leapmotor hoped to issue or the amount of money it planned to raise. Last October, Bloomberg said the company's Hong Kong listing could raise at least $1 billion.
Leapmotor said in its prospectus that the company is focused on the mid- to high-end mainstream new energy vehicle (NEV) market in the RMB150,000 ($23,637) to RMB300,000 range.
This means that the company may add more high-end models to its portfolio in the future, as its main selling model, the T03, currently has a price range of RMB 68,900 - 84,900 and the C11 is RMB 159,800 - 199,800.
Leapmotor files for Hong Kong IPO, aims to launch eight new models by 2025