Leapmotor founder, chairman, and CEO Zhu Jiangming said China’s new energy vehicle (NEV) supply chain has reached a globally competitive position, with strengths in vehicle production and core component scale, quality, and cost. Zhu made the remarks in an October 23 interview with Chinese media.
Zhu forecasted a rapid shift from internal combustion engines to electric vehicles in China. “In another three to four years, China’s automotive market will be almost entirely dominated by NEVs. Within the next decade, 90% to 95% of vehicles in China will be electric,” he said, adding that global electrification could reach 60% to 70% over the same period.
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Leapmotor aims to capitalize on this transition to bring Chinese technologies to international markets, targeting annual sales of 4 million units and positioning itself as a “world-class intelligent EV company.”
Financially, Leapmotor reported a net profit of RMB 30 million and a 14.1% gross margin in its 2025 interim results, marking its first profitable half-year since the company’s founding a decade ago. This achievement makes Leapmotor the second Chinese EV startup to reach profitability, after Li Auto.
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Sales momentum has also strengthened. In the first three quarters of 2025, Leapmotor delivered nearly 400,000 vehicles, leading sales among Chinese EV startups for seven consecutive months. September alone saw deliveries of 66,657 units, more than 97% higher year-on-year, marking the first month the company exceeded 60,000 vehicles.