Leapmotor has signed a strategic cooperation agreement with China’s FAW Group, marking another partnership between an emerging Chinese automaker and a legacy industry player.
The memorandum of understanding, signed on March 3 in Changchun, Jilin, outlines joint efforts in developing new energy vehicles (NEVs) and related components while exploring opportunities for deeper capital collaboration.
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FAW, one of Chinaās largest car manufacturers, delivered over 3.2 million vehicles in 2024, with its high-end Hongqi brand recording steady growth. Leapmotor, a newer entrant in the industry, surpassed its 2024 sales target with approximately 300,000 vehicle deliveries, achieving profitability in the fourth quarter.
The company currently offers multiple models in China, including the T03, C01, C10, C11, and C16, with most available in both battery electric vehicle (BEV) and extended-range electric vehicle (EREV) versions.
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Leapmotor has been expanding its international footprint, forming a joint venture with Stellantis in May 2024 after the European automaker acquired a 20% stake in the company. Since launching sales in Europe in September 2024, Leapmotor has established over 400 sales outlets across 13 countries and aims to reach 500 locations by the end of 2025. The company also introduced its EREV technology at the Brussels auto show in January.
The collaboration between Leapmotor and FAW follows a broader trend of partnerships in China’s automotive sector, with Xpeng and Volkswagen also working together on electric vehicle development for a planned market launch in 2026.
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