Chinese electric vehicle maker Leapmotor expects its global sales to reach 1 million units in 2026 and climb to 4 million annually within the next decade, with about 60% coming from markets outside China, Chief Executive Zhu Jiangming said on Monday.
“We are in the middle of our journey,” Zhu told Reuters in an interview at the IAA Mobility auto show in Munich. “Most of our sales growth will come from overseas because that’s where we see the biggest potential.”
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Leapmotor plans to more than double its vehicle lineup to 15 models by 2027, including the launch of a plug-in hybrid, Zhu said. The company, which reported a profit in 2024, doubled annual sales last year to 293,724 vehicles.
If Leapmotor achieves its long-term target, it would rank among the world’s top 10 automakers, approaching volumes seen by Stellantis, which acquired a 21% stake in the Chinese automaker in October 2023. The two companies have since formed a joint venture giving Stellantis exclusive rights to export, sell and manufacture Leapmotor vehicles outside Greater China.
See also: Leapmotor to Begin European Production at Stellantis Plant in Spain
Zhu said Leapmotor is still evaluating options for building a plant in Europe. Stellantis has already begun rolling out Leapmotor sales across the continent, including in the UK, and will expand into South Africa this month. Over the past year, Leapmotor has entered about 30 new markets across Europe, the Middle East and Africa.
Earlier on Monday, Leapmotor unveiled the B05, an electric hatchback, marking the fourth model the company will sell outside China. The automaker has also partnered with Chinese state-owned FAW to supply an EV platform for its Hongqi premium brand, with the first model expected to go into production in the fourth quarter of 2026.
Source: Reuters