Leapmotor aims to sell one million cars in 2026, supported by a global expansion strategy in partnership with Stellantis, Zhu said in Hangzhou, where the company is based. With its best-selling C10 electric SUV priced from 142,800 yuan, Leapmotor has also been eroding the market share of industry leader BYD in terms of EVs priced under US$25,000. In contrast, BYD's domestic sales declined 5.1% to 3.1 million units during the same period. Separately, Leapmotor on Monday said it would issue 74.8 million shares to state-owned automaker FAW at 50.03 yuan a share. Neither FAW nor Stellantis, which invested in Leapmotor in 2023, intends to seek control of Leapmotor, said chief financial officer Li Tengfei.

Source: The Edge Markets December 29, 2025 07:15 UTC