The Leapmotor T03 is a BEV whose starting price drops to RMB 49,900 after the company's subsidy.
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Leapmotor began offering customers subsidies for purchasing one of its models in September, becoming the latest Chinese electric vehicle (EV) maker to do so.
Leapmotor announced today that customers who purchase the T03 model between September 1 and September 30 will be eligible for a purchase subsidy of up to RMB 10,000 ($1,380) from the company.
The Leapmotor T03 is a battery electric vehicle (BEV) with four variants, starting at RMB 59,900, RMB 61,900, RMB 80,900, and RMB 89,900 respectively.
Their post-subsidy starting prices this month are RMB 49,900, RMB 61,900, RMB 72,900, and RMB 79,900, respectively.
The four models are capable of delivering CLTC ranges of 200 kilometers, 310 kilometers, 403 kilometers, and 403 kilometers, respectively.
Founded in 2015, Leapmotor's models on sale include the T03, coupe model S01, flagship SUV model C11, and flagship sedan C01.
The company's previous sales were largely contributed by the T03, which has led Leapmotor to be seen as a budget EV maker.
The C11 BEV, which went on sale on September 29, 2021, and the C01 BEV, which went on sale on September 28, 2022, are Leapmotor's flagship models, aiming for the RMB 150,000 to RMB 300,000 range.
Leapmotor founder, chairman and CEO Zhu Jiangming said on November 14, 2022, after announcing the company's third-quarter results, that all models on the company's C platform, as well as new platforms in the future, will have both BEV and extended-range electric vehicle (EREV) versions.
On August 1, the company cut the prices of the BEV versions of the C01 and C11 by as much as RMB 20,000 to cope with the increasingly fierce competition in China's EV market.
($1 = RMB 7.2642)
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