- Leapmotor aims to achieve annual sales of four million vehicles in the next decade and become a respected world-class smart EV maker.
- Leapmotor targets annual sales of one million vehicles in 2026.
Leapmotor (HKG: 9863) has set an ambitious long-term sales target as the Chinese new energy vehicle (NEV) maker celebrates its 10th anniversary.
Leapmotor aims to achieve annual sales of four million vehicles in the next decade and become a respected world-class smart electric vehicle manufacturer, said Zhu Jiangming, the company's founder, chairman, and CEO, at a 10th-anniversary celebration event held today.
The company targets to reach annual sales of one million vehicles in 2026, Zhu said, reiterating previously announced goals.
Founded in 2015, Leapmotor has been one of China's fastest-growing new energy vehicle (NEV) startups in recent years.
It delivered a record 70,327 vehicles in November, bringing its January-November deliveries to 536,132 units -- achieving its 2025 sales target before an upward revision.
Leapmotor originally planned to sell 500,000 vehicles in 2025, but given its robust growth, it raised its full-year 2025 sales target to 580,000 to 650,000 units in August.
On December 24, Zhu said in an internal letter that Leapmotor's full-year 2025 sales would approach 600,000 units, positioning the company to achieve annual profitability.
The company reported a net income of RMB 150 million ($21.4 million) in the third quarter of this year, marking its second consecutive profitable quarter.
Leapmotor is a Chinese NEV maker backed by Stellantis NV (NYSE: STLA), which invested €1.5 billion in 2023 to acquire about a 20 percent stake, becoming its largest external shareholder.
The company is also collaborating with a domestic automotive giant, having partnered with FAW Group in March to jointly develop NEVs.
The first model co-developed by Leapmotor and FAW will debut next year, ushering in a new model of cooperation between a Chinese state-owned enterprise and a private company, Zhu said at today's event.
Leapmotor also gave its D19 large SUV its first real-world appearance at today's event, showcasing versions with blue and green exteriors.
Leapmotor debuted the D19 on October 16 as the first model in its D series, with market launch and deliveries expected in the first half of 2026.
Earlier this month, Leapmotor shared interior details of the D19 for the first time.
($1 = RMB 7.0067)
