- The first model in Leapmotor's all-new D series is a full-size SUV targeting the RMB 300,000 ($41,840) market.
- The SUV has entered the summer testing phase and will be unveiled soon.
Leapmotor (HKG: 9863) will launch its new D-series models to target the higher-priced electric vehicle (EV) market, following initial success with its C-series and B-series models.
Two senior executives from the company confirmed the existence of the D-series on Weibo today, stating that the first model in the new product lineup will be a full-size SUV (sport utility vehicle).
Weibo automotive blogger @拉面师傅Design shared three renderings of the first D-series model today, claiming that the vehicle is poised to become the largest full-size SUV in the Chinese market this year.
The model is expected to continue offering extended-range electric vehicle (EREV) and battery electric vehicle (BEV) options, like many of Leapmotor's other models, according to the blogger.
As Leapmotor's latest flagship product, the SUV will target the RMB 300,000 ($41,840) market, the blogger said.
Leapmotor chief operating officer Xu Jun reposted the Weibo and said the model will be the company's first flagship full-size SUV in its all-new D series.
Leapmotor senior vice president Cao Li also reposted the Weibo, stating that the first model in the D series is more advanced than the renderings released by the blogger.
This is Leapmotor's first flagship product targeting the RMB 300,000 price segment, positioned as a full-size SUV, and will feature the company's, if not the industry's most advanced technologies, Cao said.
Leapmotor is not "half-price Li Auto" as some have labeled it, he said, adding that the SUV has entered the summer testing phase and will be unveiled soon.
Leapmotor currently sells models including the T03, B10, B01, C01, C10, C11, and C16 in China. Except for the T03 and B10, which are only available as BEV variants, all other models also offer EREV variants.
The C series is currently the most expensive, but it is only about half the price of Li Auto's EREV models, leading the company to be referred to as "half-price Li Auto."
The B series is a lower-priced lineup, with the B01, launched on July 24, starting at just RMB 89,800, less than half the price of Tesla (NASDAQ: TSLA) Model 3, but with a larger size.
Leapmotor delivered a record 48,006 vehicles in June, up 138.65 percent year-on-year and up 6.52 percent month-on-month.
In the first half of the year, Leapmotor delivered 221,664 vehicles, up 155.68 percent year-on-year, according to data compiled by CnEVPost.
($1 = RMB 7.1694)
