Leapmotor: China’s Quiet Champion in the EV Race

China’s electric vehicle market has a new surprise leader. Leapmotor (零跑汽车), a relatively low-profile EV startup from Hangzhou, has suddenly surged ahead of more famous peers. In the past few months, Leapmotor has consistently outsold better-known brands like Nio, Xpeng, and Li Auto – marking an extraordinary turn in China’s EV boom. How did this underdog rise to the top? A mix of humble beginnings, affordable models, vertical integration, and a strategic global partnership have all powered Leapmotor’s leap into the limelight.

From Tech Roots to EV Ambitions

Leapmotor was founded in 2015 by Zhu Jiangming, an engineer who previously co-founded surveillance tech giant Dahua Technology . With support from Dahua, Zhu set out to apply his tech expertise to automobiles. The company name “零跑” literally means “zero run,” reflecting an aim to start from scratch and then leap ahead. By 2019, Leapmotor launched its first car – the S01, a small electric sports coupé – and sold its very first vehicles . The S01’s niche appeal meant it wasn’t a breakout hit, but it gave Leapmotor a foothold and valuable R&D experience in the EV arena.

Learning from that, Leapmotor pivoted to more practical, mass-market cars. In 2020 it rolled out the T03 city car, a compact electric hatchback priced from about RMB 66,000 (around $9,300) after subsidies . The T03’s affordability (comparable to a budget gasoline car) and decent 300+ km range made it one of China’s most accessible EVs. It quickly gained popularity, especially in smaller cities. By building a full-stack capability – from design to manufacturing – Leapmotor steadily expanded. The startup secured a production license, opened its own factory in Jinhua by 2021, and even developed some in-house auto tech like its own AI driving chip . In September 2022, Leapmotor went public in Hong Kong (following Nio, Xpeng, and Li Auto’s earlier IPOs) and raised HK$6.06 billion to fuel further growth . Though its IPO debut was rocky, Zhu remained focused on steadily improving products and winning market share .

Record-Breaking Sales Streak in 2025

Leapmotor’s patient approach started paying off spectacularly in 2024 and 2025. The company more than doubled its sales in 2024 to nearly 294,000 EVs , and set an ambitious target of 500,000–600,000 units for 2025 . Early 2025 results suggest they are on track. In March 2025, Leapmotor shocked industry watchers by becoming the best-selling Chinese EV startup, surpassing longtime leader Li Auto . It delivered 37,095 cars that month – a 154% year-on-year jump – edging out Li Auto’s 36,674 units . That was the first time this “new force” EV maker had ever led the pack.

Leapmotor didn’t stop there. In April, it kept the No.1 spot among China’s EV startups with 41,039 deliveries, up 172% YoY . Rival Xpeng also surged to 35,000 units, but Leapmotor still led by a healthy margin . Even Li Auto – known for its strong sales – fell to third among the startups with 33,939 April deliveries . By comparison, premium player Nio sold about 15,000–24,000 cars in those months , underscoring how dramatically Leapmotor’s volume had pulled ahead.

A Leapmotor showroom in Shenzhen displays the company’s EV lineup, including the T03 city car (left), C01 sedan (center), and C11 SUV (right). Leapmotor’s mix of affordable compact models and family-sized vehicles has helped it capture a broad swathe of China’s EV market.

Then in May 2025, Leapmotor hit a record monthly delivery: 45,067 vehicles, a whopping 148% higher than a year prior . This marked its third consecutive month as China’s top-selling EV startup. The feat is all the more impressive considering China’s fierce EV price war this year – established giants like BYD and Tesla have slashed prices, yet Leapmotor has managed to thrive and grow in volume. In fact, aggressive pricing and new model launches helped Leapmotor expand its market share while some bigger automakers felt the squeeze . By the end of May, Leapmotor had delivered over 173,000 cars in 2025 , putting it well on the way to its half-million annual sales goal.

EVs for Everyone: Leapmotor’s Model Lineup

A key factor behind Leapmotor’s rise is its product strategy – an accessible lineup that spans from tiny city cars to roomy SUVs, all at value-driven price points. Unlike some rivals that focus only on high-end models, Leapmotor has a vehicle for various needs, always aiming to deliver more for less. Its current lineup includes:

• T03 – A mini urban EV (launched 2020). This 3-door hatch is ultra-affordable (around $10k) yet offers over 300 km range. The T03 became a hit among budget-conscious buyers and young drivers in China’s cities.

• C11 – A mid-size SUV (launched late 2020). The C11 was Leapmotor’s first mass-market SUV, roughly akin to a Tesla Model Y or Nio ES6 in size. Notably, it’s offered in both pure electric and extended-range hybrid versions , giving buyers the choice of long EV range or a gasoline generator backup (a strategy similar to Li Auto’s).

• C01 – An executive sedan (launched 2022). Sleek and low-slung, the C01 is a fully electric 5-seat sedan about the size of a BMW 5 Series. It shares a platform with the C11 SUV and boasts modern tech like a triple-screen cockpit. An extended-range (EREV) variant of the C01 is also available for those worried about charging .

• C10 – A compact/mid-size SUV (first shown 2023, launching 2025). The C10 is built on Leapmotor’s new global EV platform (LEAP 3.0) and is designed with international markets in mind . It slots slightly below the C11 in size. The company unveiled fresh 2026 C10 models in May 2025, again offering both battery EV and EREV versions to appeal to a wide audience .

• C16 – A full-size three-row SUV (launched 2024). This is Leapmotor’s largest and most premium model to date – a 6-seater SUV aimed squarely at the family SUV segment dominated by Li Auto. Debuting at the 2024 Beijing auto show, the C16 was essentially an enlarged C10, featuring a longer wheelbase and six-seat layout to rival Li Auto’s extended-range SUVs . Like others in the C-series, it comes in both pure electric and hybrid form.

Together, these models cover segments from A00-class mini EVs up to high-end SUVs. Crucially, all are priced more affordably than equivalent models from Nio or Li Auto. For example, the C11 SUV starts around RMB 150,000 (~$21,000), roughly half the price of Nio’s mid-size SUV. The flagship C16 undercuts Li Auto’s 6-seat SUVs by offering a similar size and dual powertrain choice but at a lower price bracket . This value-for-money positioning has opened Leapmotor’s appeal to mainstream middle-class consumers, not just premium buyers. The strategy appears to be vindicated by the surging sales numbers.

The Vertical Integration Advantage

One of Leapmotor’s unique strengths is its commitment to vertical integration – doing more of the engineering and component production in-house rather than relying on suppliers. Zhu Jiangming has often highlighted this as the company’s secret sauce for both innovation and cost control. In fact, among Chinese EV makers, only industry giant BYD (which makes its own batteries, chips, etc.) is more vertically integrated than Leapmotor . Leapmotor designs and builds roughly 60% of its key components itself , including battery packs, electric motors, electronic control units, and even smaller items like LED lighting and bumpers . By comparison, most new EV startups outsource a much larger share of parts.

This in-house approach yields several benefits. First, it drives down costs – the company isn’t paying supplier mark-ups on critical parts. Leapmotor’s founder noted that reducing part costs by even 10% through vertical integration can translate to a 6% drop in the final vehicle cost . Those savings can be passed on as lower car prices (or help Leapmotor’s own margins). Second, it allows Leapmotor to innovate quickly and tailor its technology. For instance, as early as 2018 the firm co-developed its own automotive AI chip called “Lingxin 01” for autonomous driving applications – a rare move for a startup. It has since achieved full autonomy in core systems like battery management, intelligent cockpit software, and driver-assist algorithms. This vertical integration also means different Leapmotor models share many common parts and electronics, simplifying manufacturing. According to the company, its platform strategy yields an 88% parts-sharing rate among models, greatly streamlining the supply chain .

The end result is that Leapmotor can offer high-tech features at lower prices. Even its budget T03 mini-car came with a ~36 kWh battery and modern infotainment for under $10k – a testament to cost-efficient design. Meanwhile, the latest C16 uses a single advanced Qualcomm 8295 chip to power everything from ADAS to surround cameras, thanks to Leapmotor’s optimized software that squeezes maximum performance from that one chip . These kinds of efficiencies through vertical integration help Leapmotor stay competitive against rivals with bigger budgets. (Notably, Leapmotor’s R&D spending as a percentage of revenue has been around 7–10%, roughly half the level of Nio or Xpeng, yet it’s been able to keep up in tech .)

Global Ambitions with Stellantis

Leapmotor’s domestic success has now attracted heavyweight international attention. In late 2023, Stellantis – the Europe-based auto giant behind brands like Peugeot, Jeep, and Fiat – announced a major partnership with Leapmotor. Stellantis invested about €1.5 billion (US$1.6 billion) to acquire a 20% stake in Leapmotor , becoming its single largest shareholder. As part of the deal, the two companies formed a joint venture called Leapmotor International to take the Chinese EV brand global . Stellantis holds 51% of this JV, which has exclusive rights to manufacture and sell Leapmotor cars outside China .

For Stellantis – which has struggled in the EV transition – the tie-up offers access to Leapmotor’s cost-effective EV technology and a new pipeline of attractive models. For Leapmotor, it’s a fast-track to expand beyond China using Stellantis’ worldwide distribution network. Starting in late 2024, Leapmotor began rolling out its cars in Europe under this partnership . The plan was to introduce the T03 (branded as a “supermini” in Europe) and the C10 SUV first, targeting markets like France, Germany, the Netherlands, and more . By leveraging Stellantis’s dealerships and production facilities (one plan considered assembling the T03 in a Stellantis plant in Poland ), Leapmotor aims to offer European buyers a taste of its affordable EVs. Stellantis CEO Carlos Tavares even described the alliance as an “industry first” where a top global automaker joins forces with a new Chinese EV player on a fully global EV program .

The partnership isn’t limited to selling existing models overseas. The two companies have agreed to co-develop future vehicles and share technologies. One early project will see Leapmotor develop an EV for Hongqi (the luxury arm of China’s FAW Group) using Leapmotor’s platform, with production planned in 2026 . In Stellantis’s eyes, teaming with Leapmotor is also a strategic response to similar moves by rivals – for example, Volkswagen’s investment in Xpeng in 2023 to co-develop EVs. These collaborations signal that Chinese EV innovators like Leapmotor have technologies and products attractive far beyond China, and global automakers are willing to bet big on them rather than reinvent the wheel.

Outpacing Nio, Xpeng, and Li Auto

Leapmotor’s sudden rise naturally invites comparison to the “big three” EV startups that have dominated the narrative so far: Nio, Xpeng, and Li Auto. Those companies grabbed headlines in past years with rapid growth, Wall Street listings, and ambitious innovations – yet it is Leapmotor, often dubbed a dark horse, that now leads in deliveries. The contrast highlights differing strategies in China’s ultra-competitive EV market.