Leapmotor eyes global top 10 in 10 years

Since its inception in 2015, Chinese NEV startup Leapmotor has aspired to establish itself as a world-class automaker and it now has confidence in realizing this goal, said founder and CEO Zhu Jiangming.

"Rising from an outsider in the automotive industry a decade ago to the top-selling player among NEV startups today, Leapmotor has weathered an arduous journey," Zhu said at the company's 10th anniversary ceremony held in Hangzhou, Zhejiang province, on Sunday.

"We have survived numerous close shaves with failure, and we have only just crossed the threshold of sustainable operations."

The company's cumulative deliveries have exceeded 1.2 million vehicles, with sales for 2025 projected to hit nearly 600,000 units. This performance has solidified its leading position among China's NEV startups, bolstered by its achievement of consecutive quarterly profitability.

"Our core target for the next decade is to reach an annual sales volume of 4 million units, with 2026 designated as the year we hit the 1 million-unit annual sales milestone," Zhu said.

He added that the world's top 10 automakers currently each boast annual sales of around 4 million units, and Leapmotor is determined to secure a spot in this elite club over the next 10 years.

In China's domestic market, only BYD and SAIC Motor have crossed the 4 million-unit annual sales threshold so far. They are followed by Geely, Chery and Changan, which each report annual sales of around 3 million units.

Zhu attributed the good results to Leapmotor's mastery of core NEV technologies and the establishment of a competitive independent component system.

Committed to comprehensive in-house R&D, Leapmotor now holds proprietary technologies for 65 percent of key NEV-related domains, spanning architecture, electronics, batteries, electric drive systems, intelligent cockpits and advanced driver assistance systems.

During its early startup phase, R&D personnel accounted for 90 percent of the company's total workforce, a proportion that has remained at around 80 percent to this day.

In the component manufacturing segment, Leapmotor operates 17 factories that produce critical parts including battery cells, battery systems, electric drive systems, auto lighting and AR-HUD systems. It has also forged partnerships with more than 10 domestic and international automakers to supply auto parts to them.

Leapmotor has built a comprehensive product lineup priced below 300,000 yuan ($42,815) with its A, B, C and D series. Covering sedans, SUVs and MPVs, its portfolio includes series available in both pure electric and extended-range electric vehicle variants.

A highlight of the Sunday ceremony was the global interior debut of the D19, the first model from Leapmotor's most expensive D series. Positioned as its flagship SUV, the model is scheduled to launch in April 2026. The D series' first MPV model, the D99, also made its premiere at the event.

Leapmotor announced on Monday a strategic equity investment from FAW Group. The total investment amounts to approximately 3.74 billion yuan, with FAW set to hold a 5 percent stake in the company. The first model under their partnership will be mass-produced in 2026.

Meanwhile, Stellantis — Leapmotor's overseas strategic shareholder — holds a roughly 20 percent stake in the startup. This partnership has enabled Leapmotor to expand its global footprint to 35 countries and regions. The company exported 60,000 units in 2025, topping Chinese NEV startups in exports.