Chinese electric vehicle (EV) manufacturer Leapmotor has officially launched operations in Hong Kong, opening its first local store and marking a milestone as its 1,500th store worldwide.
Company founder, chairman, and CEO Zhu Jiangming described the Hong Kong entry as both symbolic and strategic. “Although Hong Kong’s annual vehicle market is just 40,000 to 50,000 units, it serves as an international window for our brand and a bridge for global capital to better understand Leapmotor,” Zhu was quoted as saying by local media outlet Jiemian.
Market expansion in Hong Kong and Macau will be managed by the company’s mainland China marketing team, according to Zhu. He added that Leapmotor plans to determine locations for new assembly plants in Europe and Southeast Asia by the end of 2025.
Leapmotor has made significant progress in overseas growth. From January to May this year, its export volume exceeded 17,000 units, placing it first among China’s new energy vehicle (NEV) startups, Jiemian reported. Overseas, the company has partnered with dealers to establish about 500 stores, with a strong focus on the European market.
The EV maker has been bolstered by its strategic partnership with global automotive group Stellantis. In October 2023, Stellantis announced a €1.5 billion ($1.7 billion) investment to acquire a 20% stake in Leapmotor, becoming its largest external shareholder. In May 2024, the two companies established a joint venture, Leapmotor International, with a 51:49 ownership split and headquarters in Amsterdam.
Leapmotor is leveraging Stellantis’ extensive international distribution network to accelerate its global reach, signaling ambitions well beyond its home market.