
Leapmotor Charges into Hong Kong: A Bold Step Towards Global Domination in EV Market
2025-06-12
Author: Wai
Leapmotor's Ambitious Expansion Plans
In a bold move to accelerate its global reach, Chinese electric vehicle startup Leapmotor Technology has officially opened its first store in Hong Kong. This strategic location leverages the city’s strength as an international financial hub, paving the way for expanded visibility and investment.
Unveiling New Models in Hong Kong
At the launch, Leapmotor introduced right-hand drive versions of its flagship models—the C10, a sleek mid-sized electric SUV, and the T03, a compact electric mini. These models have already made waves in 13 European countries and are now entering diverse markets across the Middle East, Africa, Asia-Pacific, and South America.
Why Hong Kong Matters for Leapmotor
Despite its relatively small automotive market, Hong Kong is seen as a crucial gateway for Leapmotor. Founder and CEO Zhu Jiangming emphasized that the city serves as a platform for international investors to gain insight into the company’s operations and potential.
A Growing Footprint
Leapmotor’s expansion strategy is robust, boasting over 1,500 sales points worldwide—900 of which are located in mainland China. The company plans to open a second store in Hong Kong by December, highlighting its rapid growth and adaptability in the global market.
Record Sales and Ambitious Targets
This year, Leapmotor has gained the top spot among Chinese EV startups in terms of sales and exports. With a staggering 148% increase in deliveries, the company reported 45,067 new vehicles sold last month, bringing its total to 173,658 units in just five months, including 10% allocated for exports.
Looking Ahead: European Production on the Horizon
With ambitious overseas sales targets set between 50,000 and 80,000 units for this year, Leapmotor is gearing up to establish production capabilities in Europe by mid-2024, as revealed by Zhu during the Shanghai Auto Show.
Financial Performance Highlights
After narrowing its net loss by an impressive 87% to CNY130 million ($18.1 million) in Q1, Leapmotor also experienced a remarkable 187% increase in revenue, reaching CNY10 billion ($1.4 billion). The company even turned a profit for the first time in Q4 of last year, announcing a net profit of CNY80 million.
Conclusion: A Future to Watch
As Leapmotor makes decisive moves within the EV industry, its strategic focus on international markets and innovative models positions it as a formidable player on the global stage. The world will be watching closely as the company scales its operations and potentially reshapes the future of electric mobility.