China’s electrical car market has a brand new shock chief. Leapmotor (零跑汽车), a comparatively low-profile EV startup from Hangzhou, has instantly surged forward of extra well-known friends. Up to now few months, Leapmotor has constantly outsold better-known manufacturers like Nio, Xpeng, and Li Auto – marking a unprecedented flip in China’s EV growth. How did this underdog rise to the highest? A mixture of humble beginnings, inexpensive fashions, vertical integration, and a strategic world partnership have all powered Leapmotor’s leap into the limelight.
Leapmotor was based in 2015 by Zhu Jiangming, an engineer who beforehand co-founded surveillance tech big Dahua Know-how . With assist from Dahua, Zhu got down to apply his tech experience to cars. The corporate title “零跑” actually means “zero run,” reflecting an intention to start out from scratch after which leap forward. By 2019, Leapmotor launched its first automotive – the S01, a small electrical sports activities coupé – and bought its very first automobiles . The S01’s area of interest attraction meant it wasn’t a breakout hit, however it gave Leapmotor a foothold and worthwhile R&D expertise within the EV enviornment.
Studying from that, Leapmotor pivoted to extra sensible, mass-market automobiles. In 2020 it rolled out the T03 metropolis automotive, a compact electrical hatchback priced from about RMB 66,000 (round $9,300) after subsidies . The T03’s affordability (corresponding to a funds gasoline automotive) and respectable 300+ km vary made it considered one of China’s most accessible EVs. It rapidly gained reputation, particularly in smaller cities. By constructing a full-stack functionality – from design to manufacturing – Leapmotor steadily expanded. The startup secured a manufacturing license, opened its personal manufacturing facility in Jinhua by 2021, and even developed some in-house auto tech like its personal AI driving chip . In September 2022, Leapmotor went public in Hong Kong (following Nio, Xpeng, and Li Auto’s earlier IPOs) and raised HK$6.06 billion to gasoline additional progress . Although its IPO debut was rocky, Zhu remained centered on steadily bettering merchandise and successful market share .
Leapmotor’s affected person method began paying off spectacularly in 2024 and 2025. The corporate greater than doubled its gross sales in 2024 to just about 294,000 EVs , and set an bold goal of 500,000–600,000 models for 2025 . Early 2025 outcomes recommend they’re on observe. In March 2025, Leapmotor shocked trade watchers by changing into the best-selling Chinese language EV startup, surpassing longtime chief Li Auto . It delivered 37,095 automobiles that month – a 154% year-on-year leap – edging out Li Auto’s 36,674 models . That was the primary time this “new drive” EV maker had ever led the pack.
Leapmotor didn’t cease there. In April, it saved the No.1 spot amongst China’s EV startups with 41,039 deliveries, up 172% YoY . Rival Xpeng additionally surged to 35,000 models, however Leapmotor nonetheless led by a wholesome margin . Even Li Auto – identified for its sturdy gross sales – fell to 3rd among the many startups with 33,939 April deliveries . By comparability, premium participant Nio bought about 15,000–24,000 automobiles in these months , underscoring how dramatically Leapmotor’s quantity had pulled forward.
A Leapmotor showroom in Shenzhen shows the corporate’s EV lineup, together with the T03 metropolis automotive (left), C01 sedan (heart), and C11 SUV (proper). Leapmotor’s mixture of inexpensive compact fashions and family-sized automobiles has helped it seize a broad swathe of China’s EV market.
Then in Could 2025, Leapmotor hit a report month-to-month supply: 45,067 automobiles, a whopping 148% greater than a yr prior . This marked its third consecutive month as China’s top-selling EV startup. The feat is all of the extra spectacular contemplating China’s fierce EV value struggle this yr – established giants like BYD and Tesla have slashed costs, but Leapmotor has managed to thrive and develop in quantity. The truth is, aggressive pricing and new mannequin launches helped Leapmotor develop its market share whereas some greater automakers felt the squeeze . By the top of Could, Leapmotor had delivered over 173,000 automobiles in 2025 , placing it nicely on the best way to its half-million annual gross sales purpose.
A key issue behind Leapmotor’s rise is its product technique – an accessible lineup that spans from tiny metropolis automobiles to roomy SUVs, all at value-driven value factors. In contrast to some rivals that focus solely on high-end fashions, Leapmotor has a car for varied wants, all the time aiming to ship extra for much less. Its present lineup consists of:
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T03 – A mini city EV (launched 2020). This 3-door hatch is ultra-affordable (round $10k) but presents over 300 km vary. The T03 grew to become a success amongst budget-conscious consumers and younger drivers in China’s cities.
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C11 – A mid-size SUV (launched late 2020). The C11 was Leapmotor’s first mass-market SUV, roughly akin to a Tesla Mannequin Y or Nio ES6 in measurement. Notably, it’s supplied in each pure electrical and extended-range hybrid variations , giving consumers the selection of lengthy EV vary or a gasoline generator backup (a method much like Li Auto’s).
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C01 – An govt sedan (launched 2022). Smooth and low-slung, the C01 is a totally electrical 5-seat sedan concerning the measurement of a BMW 5 Sequence. It shares a platform with the C11 SUV and boasts fashionable tech like a triple-screen cockpit. An extended-range (EREV) variant of the C01 can be out there for these nervous about charging .
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C10 – A compact/mid-size SUV (first proven 2023, launching 2025). The C10 is constructed on Leapmotor’s new world EV platform (LEAP 3.0) and is designed with worldwide markets in thoughts . It slots barely under the C11 in measurement. The corporate unveiled contemporary 2026 C10 fashions in Could 2025, once more providing each battery EV and EREV variations to attraction to a large viewers .
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C16 – A full-size three-row SUV (launched 2024). That is Leapmotor’s largest and most premium mannequin so far – a 6-seater SUV aimed squarely on the household SUV phase dominated by Li Auto. Debuting on the 2024 Beijing auto present, the C16 was basically an enlarged C10, that includes an extended wheelbase and six-seat structure to rival Li Auto’s extended-range SUVs . Like others within the C-series, it is available in each pure electrical and hybrid type.
Collectively, these fashions cowl segments from A00-class mini EVs as much as high-end SUVs. Crucially, all are priced extra affordably than equal fashions from Nio or Li Auto. For instance, the C11 SUV begins round RMB 150,000 (~$21,000), roughly half the worth of Nio’s mid-size SUV. The flagship C16 undercuts Li Auto’s 6-seat SUVs by providing the same measurement and twin powertrain alternative however at a cheaper price bracket . This value-for-money positioning has opened Leapmotor’s attraction to mainstream middle-class customers, not simply premium consumers. The technique seems to be vindicated by the surging gross sales numbers.
One in all Leapmotor’s distinctive strengths is its dedication to vertical integration – doing extra of the engineering and element manufacturing in-house reasonably than counting on suppliers. Zhu Jiangming has typically highlighted this as the corporate’s secret sauce for each innovation and value management. The truth is, amongst Chinese language EV makers, solely trade big BYD (which makes its personal batteries, chips, and many others.) is extra vertically built-in than Leapmotor . Leapmotor designs and builds roughly 60% of its key elements itself , together with battery packs, electrical motors, digital management models, and even smaller gadgets like LED lighting and bumpers . By comparability, most new EV startups outsource a a lot bigger share of components.
This in-house method yields a number of advantages. First, it drives down prices – the corporate isn’t paying provider mark-ups on essential components. Leapmotor’s founder famous that decreasing half prices by even 10% by vertical integration can translate to a 6% drop within the closing car price . These financial savings may be handed on as decrease automotive costs (or assist Leapmotor’s personal margins). Second, it permits Leapmotor to innovate rapidly and tailor its know-how. As an example, as early as 2018 the agency co-developed its personal automotive AI chip known as “Lingxin 01” for autonomous driving functions – a uncommon transfer for a startup. It has since achieved full autonomy in core programs like battery administration, clever cockpit software program, and driver-assist algorithms. This vertical integration additionally means totally different Leapmotor fashions share many widespread components and electronics, simplifying manufacturing. In accordance with the corporate, its platform technique yields an 88% parts-sharing charge amongst fashions, drastically streamlining the availability chain .
The top result’s that Leapmotor can supply high-tech options at decrease costs. Even its funds T03 mini-car got here with a ~36 kWh battery and fashionable infotainment for underneath $10k – a testomony to cost-efficient design. In the meantime, the newest C16 makes use of a single superior Qualcomm 8295 chip to energy every little thing from ADAS to encompass cameras, due to Leapmotor’s optimized software program that squeezes most efficiency from that one chip . These sorts of efficiencies by vertical integration assist Leapmotor keep aggressive towards rivals with greater budgets. (Notably, Leapmotor’s R&D spending as a share of income has been round 7–10%, roughly half the extent of Nio or Xpeng, but it’s been capable of sustain in tech .)
Leapmotor’s home success has now attracted heavyweight worldwide consideration. In late 2023, Stellantis – the Europe-based auto big behind manufacturers like Peugeot, Jeep, and Fiat – introduced a significant partnership with Leapmotor. Stellantis invested about €1.5 billion (US$1.6 billion) to amass a 20% stake in Leapmotor , changing into its single largest shareholder. As a part of the deal, the 2 corporations shaped a three way partnership known as Leapmotor Worldwide to take the Chinese language EV model world . Stellantis holds 51% of this JV, which has unique rights to fabricate and promote Leapmotor automobiles outdoors China .
For Stellantis – which has struggled within the EV transition – the tie-up presents entry to Leapmotor’s cost-effective EV know-how and a brand new pipeline of engaging fashions. For Leapmotor, it’s a fast-track to develop past China utilizing Stellantis’ worldwide distribution community. Beginning in late 2024, Leapmotor started rolling out its automobiles in Europe underneath this partnership . The plan was to introduce the T03 (branded as a “supermini” in Europe) and the C10 SUV first, concentrating on markets like France, Germany, the Netherlands, and extra . By leveraging Stellantis’s dealerships and manufacturing services (one plan thought of assembling the T03 in a Stellantis plant in Poland ), Leapmotor goals to supply European consumers a style of its inexpensive EVs. Stellantis CEO Carlos Tavares even described the alliance as an “trade first” the place a high world automaker joins forces with a brand new Chinese language EV participant on a totally world EV program .
The partnership isn’t restricted to promoting present fashions abroad. The 2 corporations have agreed to co-develop future automobiles and share applied sciences. One early venture will see Leapmotor develop an EV for Hongqi (the posh arm of China’s FAW Group) utilizing Leapmotor’s platform, with manufacturing deliberate in 2026 . In Stellantis’s eyes, teaming with Leapmotor can be a strategic response to comparable strikes by rivals – for instance, Volkswagen’s funding in Xpeng in 2023 to co-develop EVs. These collaborations sign that Chinese language EV innovators like Leapmotor have applied sciences and merchandise engaging far past China, and world automakers are prepared to guess huge on them reasonably than reinvent the wheel.
Leapmotor’s sudden rise naturally invitations comparability to the “huge three” EV startups which have dominated the narrative to date: Nio, Xpeng, and Li Auto. These corporations grabbed headlines in previous years with speedy progress, Wall Avenue listings, and bold improvements – but it’s Leapmotor, typically dubbed a darkish horse, that now leads in deliveries. The distinction highlights differing methods in China’s ultra-competitive EV market.
