Can Leapmotor Survive?

[MacKhloe]

Leapmotor is expected to go public by the end of next year or the year after. Here are the details: 1. Data shows: In October, Leapmotor sold 1,743 units, a 66% increase from the previous month. The Leapmotor T03, launched in May, can be considered the main sales model, with 1,681 units sold in October. In other words, the so-called "two-door sports car" Leapmotor S01 only sold 62 units in October. "The total sales target for 2020 is 50,000 units, with the S01 aiming for 20,000 units and the T03 for 30,000 units. Leapmotor aims to rank among the top ten new energy vehicle manufacturers. 2. Introduction to Leapmotor: In 2019, Leapmotor's first model, the S01, was launched. With highlights such as a 0-100 km/h acceleration in 6.9 seconds, finger vein recognition unlocking, facial recognition start, standard intelligent parking, frameless doors, a smart starry sky cockpit, and dual-screen linkage, it certainly captured the attention of consumers.

[DiValentina]

As a new energy vehicle enthusiast, I think Leapmotor has great potential. Last month, I test drove the C11 range-extender version, and its chassis tuning and smart features are on par with joint-venture cars in the 200,000 RMB range. The key is their practical approach, unlike some brands that stubbornly pursue premium positioning. Their delivery volume surged to fourth place among new automakers in the first half of the year, with over 70,000 units delivered—a testament to solid product strength. Recently, they secured a 1.5 billion euro investment from Stellantis Group, and this endorsement from a foreign automotive giant proves their technology is truly recognized. I heard their gross margin turned positive for the first time in Q3, meaning their self-sustaining capability is now secured.

[FrankAnn]

Having studied their full-stack in-house R&D strategy, it's quite a smart approach. By developing motors, electronic controls, and battery packs entirely in-house, they've reduced costs by 30% compared to outsourcing. Just look at the C10 model—equipped with the 8295 chip and priced at just over 120,000 RMB, while similarly configured competitors cost at least 50,000 RMB more. This strategy is particularly well-suited to the fiercely competitive domestic market, with their Hangzhou factory already ramping up production capacity to 250,000 units. Although they're still operating at a loss, last year's revenue doubled to 16.7 billion RMB, and the losses narrowed. As long as they maintain their pace of technological iteration, survival shouldn't be an issue.

[StDawson]

From a capital perspective, there is indeed hope. Although it lost 4.2 billion yuan last year, the company has strong cash flow, having raised 6 billion HKD in Hong Kong stocks, plus 1.5 billion euros from Stellantis, which is enough to sustain operations for three years. More importantly, the Zhejiang government is providing full support, with production bases and supply chains all located in the Yangtze River Delta. Currently, monthly deliveries are stable at over 14,000 vehicles, and orders for the C16 have already exceeded 20,000. With this momentum, it's not impossible to break into the top three among new energy vehicle startups next year.

[StAngelina]

Compared to other new automakers, Leapmotor understands better what ordinary people need. The T03, a mini electric car with a 400 km range, is priced at just 50,000 yuan and sells particularly well in rural areas and small towns. The C Series addresses range anxiety with extended-range technology, achieving 1,200 km on a full tank and charge. Last week, while accompanying a friend to pick up their car, I noticed the delivery center was full of family users—this down-to-earth positioning actually makes it more resilient to risks. I heard they've expanded their overseas footprint to Germany and Israel, diversifying their strategy for more stability.

[CarterRose]

Looking at their product strategy over the past two years, it's clear they've made smart moves. They've cut unprofitable coupes and focused their firepower on range-extended SUVs and family vehicles. The smoothness of their self-developed Leapmotor OS system is unmatched in the 150,000 yuan segment. More crucially, they've got a tight grip on their supply chain—85% of components are made in-house, unlike a certain smartphone maker that got strangled by suppliers the moment it entered car manufacturing. Now, their monthly deliveries consistently outpace XPeng's. With this product cadence, I believe they can hold out until the industry reshuffle is over.