The Leapmotor C10's official pricing is significantly lower than it was at pre-sale, and updated versions of existing models see price cuts across the board.

(Image credit: Leapmotor)

Chinese new energy vehicle (NEV) maker Leapmotor (HKG: 9863) today officially launched its C10 SUV, and updated its existing model with lower pricing amid fierce price competition.

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The C10 is Leapmotor's first global model, which made its world debut at the Munich auto show in September 2023 and went on pre-sale in China on January 10 this year.

Leapmotor's three existing models, the T03, C01 and C11, have been updated, with upgraded specifications and reduced prices.

C10: Starting at about $17,900

The Leapmotor C10 is a five-seat SUV that tries to compete with Li Auto's (NASDAQ: LI) Li L7 at about half the price.

The C10 is available in battery electric vehicle (BEV) and extended-range electric vehicle (EREV) versions, just like the rest of Leapmotor's C-series models.

The C10 BEV is available in four versions, with starting prices of RMB 128,800 ($17,900), RMB 138,800, RMB 148,800 and RMB 168,800 respectively. This is lower than the price range of RMB 155,800 to RMB 185,800 at the pre-sale on January 10.

The C10 EREV is offered in three variants with starting prices of RMB 135,800, RMB 145,800 and RMB 165,800 respectively. Its price range at the time of pre-sale was RMB 151,800-RMB 181,800.

Since its pre-sale on January 10, the C10 has received more than 45,000 pre-orders, Leapmotor said at today's launch event.

Leapmotor describes the C10 as "a more ideal home for young people", targeting young families. Li Auto is aimed at family users, and "ideal" (理想) is the English translation of its Chinese name.

The C10 EREV measures 4,739 mm in length, 1,900 mm in width and 1,680 mm in height, with a wheelbase of 2,825 mm.

Li Auto's least expensive model, the Li L7, is bigger, with length, width and height of 5,050 mm, 1,995 mm, 1,750 mm and a wheelbase of 3,005 mm.

Li Auto yesterday launched an updated version of the Li L7, which still starts at RMB 319,800, more than double the price of the C10 EREV.

Li Auto will launch the lower-priced Li L6, which will be its first to be priced below RMB 300,000, but is expected to be above RMB 200,000.

The Li L6 has a length, width and height of 4,925 mm, 1,960 mm and 1,735 mm, respectively, and a wheelbase of 2,920 mm, according to a regulatory filing.

The C10 is the first globale product of Leapmotor's LEAP 3.0 technology architecture and supports optional LiDAR.

The model's smart cockpit is powered by Qualcomm's Snapdragon 8295 chip, which is standard on new mid-to-high-end models introduced in the past few months.

Both the C10 BEV and C10 EREV come with the Leapmotor Pilot assisted driving system, but only their top-of-the-line versions come with LiDAR and use a single Nvidia Orin X chip.

The C10 BEV uses a single electric motor across the range, with peak power of 170 kW and peak torque of 320 Nm.

The entry-level version of the C10 BEV is powered by a battery pack with a capacity of 52.9 kWh and offers a CLTC range of 410 km. The other three versions have a battery pack with a capacity of 69.9 kWh and are capable of delivering a CLTC range of 530 km.

The C10 EREV has the same motor performance as the C10 BEV with an additional 1.5L engine as a range-extender.

The C10 EREV's battery pack has a capacity of 28.4 kWh and provides a CLTC range of 210 km. It has a CLTC range of 1,190 km when fully fueled and charged.

Leapmotor said deliveries of the C10 begin today.

Refreshed T03, C01, C11

In addition to launching the C10, Leapmotor has also rolled out updated versions of its existing models, the T03, C01, and C11, all of which see a price reduction.

The T03 is a compact BEV with no EREV variant, while the C01 and C11 are offered in both BEV and EREV versions.

The 2024 T03 is offered in three variants with starting prices of RMB 49,900, RMB 59,900, and RMB 69,900, and CLTC ranges of 200 km, 310 km, and 403 km respectively.

The previously on-sale 2023 T03 was offered in four versions with starting prices of RMB 59,900, RMB 69,900, RMB 80,900 and RMB 89,900 respectively.

The updated C01 BEV is available in three versions with starting prices of RMB 139,800, RMB 148,800 and RMB 158,800, and CLTC ranges of 525 km, 525 km and 625 km, respectively.

The 2023 C01 BEV is offered in five versions with starting prices of RMB 149,800, RMB 169,800, RMB 173,800, RMB 196,800, RMB 208,800 respectively.

The updated C01 EREV is also available in three versions, with starting prices of RMB 136,800, RMB 145,800 and RMB 155,800 respectively.

The 2023 C01 EREV is offered in three versions with starting prices of RMB 145,800, RMB 158,800 and RMB 169,800 respectively.

The updated C11 BEV is offered in four versions with starting prices of RMB 151,800, RMB 158,800, RMB 178,800, and RMB 205,800 respectively. One version has a CLTC range of 515 km, while the other three have 580 km.

The 2023 C11 BEV is offered in four variants with starting prices of RMB 155,800, RMB 169,800, RMB 189,800, and RMB 209,800, respectively.

The updated C11 EREV is available in four versions with starting prices of RMB 148,800, RMB 155,800, RMB 165,800 and RMB 185,800 respectively.

The 2023 model of the C11 EREV is offered in six versions, with starting prices of RMB 149,800, RMB 149,800, RMB 161,800, RMB 165,800, RMB 175,800, and RMB 185,800, respectively.

Deliveries of the refreshed T03 will start at the end of March, C11 at the end of April and C01 at the end of May.

Leapmotor initially offered only BEV models and unveiled plans to release EREV models in 2022 to target the larger market for plug-in hybrids.

The company delivered 144,155 vehicles in 2023, up 29.67 percent from 111,168 in 2022.

In February, Leapmotor delivered 6,566 vehicles, up 105.32 percent year-on-year but down 46.52 percent from January, partly due to the disruption of the Chinese New Year holiday.