Leapmotor has cut the prices of the BEV versions of its C01 sedan and C11 SUV by up to RMB 20,000 in response to increasing competition in China's EV market.
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Leapmotor has cut the prices of the battery electric vehicle (BEV) versions of its two flagship models by up to RMB 20,000 yuan ($2,800) in response to increasing competition in China's electric vehicle (EV) market.
The company announced today that it has cut the prices of three pricier versions of its flagship sedan, the C01 BEV, and two versions of the C11 BEV.
One version of the C01, which had a starting price of RMB 189,800, has had its price reduced by RMB 16,000 to RMB 173,800. The prices of two other versions, which were previously priced at RMB 216,800 and RMB 228,800, have both been reduced by RMB 20,000 to RMB 196,800 and RMB 208,800 respectively.
The starting price of the entry-level version of the C01 BEV remains unchanged at RMB 149,800.
Two versions of the company's flagship SUV, the C11 BEV, priced at RMB 199,800 and RMB 219,800 have both been reduced by RMB 10,000 to the latest prices of RMB 189,800 and RMB 209,800 respectively.
The starting prices of the two less expensive versions of the C11 BEV remain unchanged at RMB 155,800 and RMB 169,800 respectively.
Founded in 2015 and headquartered in Zhejiang province, Leapmotor's models on sale include the mini vehicle T03, coupe model S01, flagship SUV C11, and flagship sedan C01.
Leapmotor launched the C11 BEV on September 29, 2021, and officially rolled out the C11 extended-range electric vehicle (EREV) on March 1 to target a larger market.
The company slashed the price of the C11 BEV when it launched the C11 EREV on March 1.
Leapmotor launched the C01 sedan on September 28, 2022, and as of now it is only available in BEV version.
On July 14, a regulatory catalog from China's industrial regulator showed that Leapmotor filed for an EREV version of the C01.
In an effort to turn around its declining sales, Leapmotor unveiled plans last year to release EREV models to target the larger market for plug-in hybrids.
Leapmotor founder, chairman and CEO Zhu Jiangming said after the company announced its third-quarter results on November 14, 2022, that all models of the company's C platform and future new platforms will have both BEV and EREV versions.
Leapmotor delivered a record 13,209 vehicles in June, and its July delivery figures have not yet been released.
($1 = RMB 7.1680)
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