LEAPMOTOR(HK:09863) Zhong Guo Jing Ying Bao·2026-01-04 12:17Core Viewpoint - Leap Motor aims to transition from a follower to a leader in the electric vehicle industry over the next decade, leveraging its technological advancements and product maturity to achieve sales targets exceeding 4 million units annually [2][3]. Company Overview - Leap Motor was established on December 24, 2015, and is positioned as a technology-driven smart electric vehicle company, launching its first mass-produced model, the Leap S01, in November 2017 [3]. - The company has developed a competitive in-house parts system and claims to have mastered all core technologies necessary for electric vehicle production [3]. Technological Development - Leap Motor emphasizes "full-domain self-research," covering 65% of the vehicle's cost with core technologies, and maintains a high proportion of R&D personnel, which was 90% during its startup phase and remains at 80% [3][4]. - The company has achieved significant breakthroughs in sales, with a projected delivery of 596,555 vehicles in 2025, representing a 103% year-on-year growth [4]. Market Positioning - Leap Motor is transitioning from being categorized as a new force in the automotive industry to aiming for global recognition as a world-class electric vehicle manufacturer [5]. - The D series, which includes flagship models priced between 250,000 to 300,000 yuan, is designed to compete with luxury vehicles priced between 500,000 to 1,000,000 yuan, while maintaining a cost-based pricing strategy [5]. Strategic Partnerships - China FAW Group has become a strategic shareholder in Leap Motor, marking a significant recognition of the company's achievements over the past decade [6]. - The partnership with Stellantis is expected to enhance Leap Motor's international presence and operational efficiency, with the company currently covering 35 countries and regions globally [7]. Future Outlook - Leap Motor aims to achieve its goal of becoming a world-class smart electric vehicle company, supported by its technological capabilities and strategic partnerships [7].