Leapmotor Accelerates Growth: Aiming for Over 4 Million Annual Sales
Chinese electric vehicle manufacturer Leapmotor has unveiled an ambitious long-term growth vision, setting its sights on exceeding 4 million vehicles in annual sales within the next decade. Speaking in Hangzhou, CEO Zhu Jiangming stated that this bold target will be driven not only by domestic momentum but also by an aggressive global expansion strategy.
Looking ahead to the near future, Zhu revealed that Leapmotor is aiming for 1 million vehicle sales in 2026. He emphasized that the company’s international partnership with Stellantis will play a decisive role in reaching this milestone. In addition, Leapmotor is preparing to launch a new premium vehicle lineup, expected to be priced above 250,000 yuan (around $34,300), signaling the brand’s intention to move further upmarket and improve profitability.
Founded roughly a decade ago, Leapmotor has recently emerged as a strong contender in China’s fiercely competitive automotive market. Alongside rapid volume growth, the company has also made significant progress on profitability throughout 2025. Its best-selling model, the C10 electric SUV, starts at $20,382 and has gained notable traction in the sub-$25,000 EV segment, increasingly challenging BYD’s dominance in this price range.
Data from the China Passenger Car Association underscores this momentum. Leapmotor’s domestic sales nearly doubled in the first 11 months of 2025, reaching 482,447 units. By contrast, BYD’s domestic sales declined by 5.1% over the same period, falling to 3.1 million units, highlighting a shift in competitive dynamics.
An electronics engineer and co-founder of Dahua Technology, Zhu Jiangming believes that sustainable cost advantages can only be achieved by developing core technologies in-house. According to Zhu, Leapmotor internally develops around 65% of its vehicle components by value, giving the company an estimated 10% cost advantage over many competitors.
Europe is set to become a key pillar of Leapmotor’s global ambitions. The company plans to begin production in Spain in 2026. Vice President of Supply Chain Shu Chuncheng explained that, in line with local regulations, approximately 40% of vehicle component value will be sourced from Europe. This move is expected to strengthen Leapmotor’s long-term presence in the European market.
