Chinese electric vehicle maker Leapmotor said it aims to reach annual sales of four million vehicles over the next decade, outlining ambitious long-term growth plans as it marked its 10th anniversary.
Speaking at the anniversary event, founder, chairman and chief executive Zhu Jiangming said the company’s goal is to “become a respected world-class smart electric vehicle manufacturer,” underscoring its intention to expand both domestically and internationally.
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Leapmotor is targeting annual sales of one million vehicles by 2026, Zhu said, reiterating previously disclosed targets. The company has been among China’s fastest-growing new energy vehicle (NEV) makers since its founding in 2015.
The automaker delivered a record 70,327 vehicles in November, bringing total deliveries for the first 11 months of the year to 536,132 units. That performance allowed the company to surpass its earlier 2025 sales target ahead of schedule. Leapmotor had originally planned to sell 500,000 vehicles in 2025, later revising the target to between 580,000 and 650,000 units.
In an internal letter dated Dec. 24, Zhu said full-year 2025 sales were expected to approach 600,000 vehicles, a level he said would put the company on track to achieve sustained profitability. Leapmotor reported net income of 150 million yuan ($21.4 million) in the third quarter, marking its second consecutive profitable quarter.
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The company has received backing from global automaker Stellantis, which invested €1.5 billion ($1.6 billion) in 2023 to acquire roughly a 20% stake, making it Leapmotor’s largest external shareholder.
Leapmotor is also expanding its partnerships within China. It has teamed up with state-owned FAW Group to jointly develop new energy vehicles, with the first jointly developed model expected to debut next year. Zhu said the partnership represents a new form of cooperation between a private automaker and a state-owned enterprise.
