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The China Securities Regulatory Commission granted approval for Leapmotor to issue a maximum of 290 million overseas listed foreign shares. After this is completed, the EV maker can be listed on the main board of the HKEx.
Leapmotor has released its performance report for the first half of this year after a price reduction in the second quarter.
A Leapmotor vehicle rear-ended another car without braking, pushing it out dozens of meters. Leapmotor confirmed that the vehicle was in a human-driven state before the collision, without activating ACC mode (Adaptive Cruise Control).
With the arrival of the "Double 11 Shopping Festival", many Chinese automobile companies, such as Leapmotor, NETA Auto and AITO, have launched preferential policies with values as high as 13,000 yuan ($1,793) for vehicle purchases.
Chinese electric vehicle maker XPeng is adjusting its organizational structure. The restructuring started about a week ago and is still in progress. It is expected that new appointments will be announced in the next week.
Recent years have laid bare the advantages of electrification, intelligent technology and user targets for the automotive industry, and Chinese brands are increasingly launching vehicles from 300,000 yuan ($42,624) and upward in a bid to join the high-end market.
After WM Motor founder Freeman Shen's annual salary of 1.2 billion yuan ($164 million) aroused heated discussion, the Chinese second-tier electric vehicle maker is now reportedly carrying out large-scale salary reductions, including a 50% cut in executive pay.
Executive compensation is a topic of great interest whenever the automobile group releases its annual report. In China, there exists a significant disparity between the salaries of executives in electric vehicle manufacturers and those in fuel-powered vehicle manufacturers.