Chinese electric vehicle maker Leapmotor reported strong full-year delivery growth in 2025, even as monthly sales softened toward the end of the year amid a broader slowdown in China’s auto market.
The company said it delivered 60,423 vehicles in December, down 14.1 percent from November but up 42.1 percent from a year earlier. For the fourth quarter, deliveries reached 201,039 units, representing a 66.3 percent year-on-year increase and a 15.6 percent rise from the previous quarter.
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Leapmotor’s total vehicle deliveries for 2025 reached 596,555 units, more than doubling from the prior year. The company said it is targeting annual sales of 1 million vehicles by 2026 and aims to reach 4 million units annually over the longer term.
The automaker said its performance reflects continued demand for its product lineup despite a more challenging market environment in the second half of the year. In December, Leapmotor introduced its first multi-purpose vehicle, the D99, and confirmed plans to launch the D19 sport utility vehicle as part of efforts to broaden its portfolio.
Financially, Leapmotor reported improving results. The company posted net income of 150 million yuan ($21.4 million) in the third quarter, marking its second consecutive profitable quarter. It had recorded a net loss of 130 million yuan in the first quarter amid weaker industry conditions. Founder and chief executive Zhu Jiangming previously said the company expects to achieve full-year profitability in 2025.
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Leapmotor is backed by Stellantis, which invested €1.5 billion in 2023 for a roughly 20 percent stake, making it the automaker’s largest external shareholder. In December, China FAW Group also invested $530 million for a 5 percent stake, further strengthening Leapmotor’s capital base.
The company’s expansion comes as competition in China’s electric vehicle market intensifies, with manufacturers racing to scale production, improve profitability, and secure long-term market share.
