零跑汽车朱江明：下一个十年， 要做世界级企业而非新势力

Core Insights - In 2025, the automotive market shows mixed results, with BYD maintaining dominance but experiencing declines in sales and gross profit, while Li Auto is one of the few new forces to see a drop in sales. NIO's sales have shifted from "Wai Yi Wan" to "Wai Si Wan," and although XPeng saw a monthly increase, it remains challenged in moving upmarket [2] - Leap Motor stands out among new forces, achieving nearly 600,000 vehicle deliveries in 2025, marking a doubling in growth and setting a target of over 1 million annual sales for 2026, surpassing competitors [2] - Leap Motor's CEO, Zhu Jiangming, emphasizes a shift from being categorized as a "new force" to competing on a global scale, reflecting a maturation in the electric vehicle industry [2] Group 1: Leap Motor's Growth and Strategy - Leap Motor achieved the highest monthly sales among new forces in 2025, with nearly 600,000 vehicles delivered, indicating a doubling in growth [2] - The company aims for over 1 million annual sales in 2026, setting a higher target than competitors like Li Auto and NIO [2] - Zhu Jiangming, CEO of Leap Motor, believes that the distinction between "new" and "old" is outdated, as the industry has matured over the past decade [2] Group 2: Strategic Partnerships and Market Expansion - Leap Motor has formed a joint venture with Stellantis to leverage global experience and channels for international expansion, marking a unique approach among domestic automakers [4] - The company has established nearly 700 sales and service points across over 30 countries, with a significant presence in Europe, where it sold over 67,000 vehicles in 2025, leading among new forces [4] - Leap Motor's partnership with FAW Group, involving a strategic investment of 3.744 billion yuan, is seen as a stabilizing factor for the company, ensuring control remains with the founding team [5] Group 3: Product Innovation and Market Positioning - Leap Motor is focusing on larger battery capacities for its range-extended vehicles, with the D19 model featuring an 80.3 kWh battery, surpassing competitors like Tesla [6] - The company has implemented risk mitigation strategies to ensure its competitiveness in the automotive market, as evidenced by multiple share buybacks by its CEO and major shareholders [6] - Leap Motor's commitment to continuous innovation, quality, and efficient organization is crucial for its goal of achieving 1 million annual sales in 2026 [7] Group 4: Long-term Vision - Zhu Jiangming has set a long-term goal of reaching 4 million annual sales by 2035, with a clear internal roadmap for achieving this target [3] - The company aims to transition from merely selling cars internationally to integrating into local industries, enhancing its global footprint [7] - Leap Motor's focus on becoming a world-class automotive company rather than just a new force reflects its ambition and strategic direction [8]