Leapmotor posts 1st annual profit as EV sales double

• Leapmotor's net income came in at 540 million yuan ($78.3 million) in 2025, marking the company's first full-year profit.
• The company's revenue doubled to 64.73 billion yuan as annual vehicle deliveries surged 103% to nearly 600,000 units.

Leapmotor reported its first full-year profit as it maintained strong delivery momentum throughout 2025.

The Stellantis-backed Chinese electric vehicle maker posted a net income of 540 million yuan ($78.3 million) in 2025, becoming the second Chinese EV startup after Li Auto to achieve annual profitability, according to its financial report released Monday.

The company's revenue for 2025 surged 101.3% from a year earlier to a record 64.73 billion yuan.

Its gross margin climbed to 14.5% in 2025, up 6.1 percentage points from the previous year, hitting a record annual high.

Leapmotor delivered 596,555 new vehicles in 2025, representing a 103.1% year-on-year increase.

Although December deliveries slipped 14% from November, it still set a quarterly delivery record of over 200,000 units in the fourth quarter.

As of the end of 2025, the company held 37.88 billion yuan in cash and maintained positive free cash flow.

China FAW Group invested 3.74 billion yuan in the company at the end of December, which diluted the stake of its largest external shareholder, Stellantis, to 18.99%.

The company's globalization strategy is accelerating, with exports reaching 67,052 units in 2025, ranking first among Chinese EV startups.

Leapmotor plans to roll out new products in its four major product series — A, B, C, and D — in 2026, with the all-new A10 model officially launching on March 26.

The company had originally planned to begin pre-sales for the A10 on March 26.

Leapmotor aims to deliver more than 1 million vehicles in 2026.

William Li reaffirms Nio's 2026 annual profitability target in internal address [full text inside]

William Li reiterated to employees the goal of achieving annual profitability in 2026, following Nio's alert of its first quarterly profit in the fourth quarter of 2025.

Nio

Feb 10, 2026

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