- In the Chinese auto market, the beginning of the year is usually the low point for deliveries, while the end of the year is usually the high point.
- Leapmotor is targeting 2025 deliveries of 500,000 vehicles.
Chinese new energy vehicle (NEV) maker Leapmotor (HKG: 9863), backed by Stellantis NV (NYSE: STLA), saw January deliveries drop significantly from the previous month, but double from a year ago.
Leapmotor delivered 25,170 vehicles in January, down 40.8percent from December's 42,517 and up 105.02 percent from 12,277 in the same month last year, according to data released by the company today.
In the Chinese auto market, the beginning of the year is usually the low point for deliveries, while the end of the year is usually the high point.
By the end of January, Leapmotor had delivered 624,718 units since its inception, data monitored by CnEVPost showed.
Leapmotor is aiming to deliver 500,000 vehicles in the full year 2025, it previously said.
For the full year 2024, Leapmotor delivered 293,724 vehicles, a 103.76 percent increase from 2023.
Founded in 2015, Leapmotor is one of the first new car-making forces in China, initially offering only battery electric vehicle (BEV) models, but over the past few years has begun to offer extended-range electric vehicle (EREV) models, targeting a larger market.
The company currently sells the T03, C01, C10, C11 and C16 in China, with all but the T03 offering both BEV and EREV variants.
Leapmotor will release its new model, the B10, in March, its founder, chairman, and CEO Zhu Jiangming said on Weibo today.
The company showed off the B10 on November 15, the first day of the 2024 Guangzhou auto show, saying the official launch will be in the first quarter of 2025.
The all-electric SUV (sport utility vehicle) is the first to be built on the Leap 3.5 architecture and is the first model in the company's B-Series, a diversified lineup that Leapmotor said targets the world's largest market segment.
The B-series is Leapmotor's globalized strategic platform that covers a wide range of products including SUVs, sedans and hatchbacks, with three products to be released in 2025, Leapmotor said previously.
Leapmotor sees net income turn positive in Q4 on strong deliveries and cost control
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