- Leapmotor launched the C10 and B10 SUVs in Brazil and Chile, and showed the C16 SUV at the São Paulo auto show.
- Leapmotor will next expand operations into markets including Argentina, Colombia, and Ecuador.
Leapmotor (HKG: 9863) has entered the South American market, launching two models each in Brazil and Chile as part of its expanding global footprint.
The Chinese electric vehicle (EV) maker backed by Stellantis NV (NYSE: STLA) launched the C10 SUV (sport utility vehicle) in Brazil and Chile earlier this month, offering battery electric vehicle (BEV) and extended-range electric vehicle (EREV) variants, along with the all-electric B10 SUV, according to an announcement today.
The company also showcased the six-seat electric SUV C16 at the São Paulo auto show.
Leapmotor plans to establish 36 sales outlets across 27 Brazilian cities and five outlets in Chile by year-end.
It will leverage Stellantis' existing channel resources to provide sales, after-sales service, and parts supply in both South American countries.
Leapmotor will subsequently expand into markets including Argentina, Colombia, and Ecuador to complete its core South American market footprint, the company said.
On October 26, 2023, Leapmotor announced that Stellantis would invest 1.5 billion euros ($1.7 billion) to acquire about a 20 percent stake, becoming the EV maker's largest external shareholder.
In May 2024, Stellantis and Leapmotor established Leapmotor International, a joint venture with a 51:49 equity ratio, headquartered in Amsterdam, Netherlands.
Leapmotor is leveraging Stellantis' distribution channels to build its sales network in international markets.
The company currently sells the T03, B10, B01, C01, C10, C11, and C16 models in China. The T03, B01, and B10 are available only as BEV variants, while the other models also offer EREV variants.
Leapmotor delivered 70,289 vehicles in October, marking its sixth consecutive month of record-high deliveries.
From January to October, Leapmotor delivered 465,805 vehicles, representing a 120.72 percent year-on-year increase.
On November 15, the company announced its year-to-date sales had surpassed 500,000 units, achieving its pre-revised 2025 sales target.
Leapmotor's initial 2025 sales target was 500,000 to 600,000 units, which was raised in August to 580,000 to 650,000 units. The company's 2026 target is to sell one million vehicles.
Leapmotor will officially launch the Lafa 5 in two days on November 27. The electric hatchback began pre-sales in China on November 7 with a starting price of RMB 105,800 ($14,920).
($1 = RMB 7.0930, $1 = EUR 0.8673)
