8月1日，零跑汽车公布7月全系交付达50129台，同比增长超126%。7月，零跑汽车还首次入围《财富》 中国500强。 推动零跑销量高歌猛进的主力车型是被称作"半价理想"的C系列SUV，在15–20万元价位中复刻了理想 的智能化和舒适体验，助推零跑连续四个月登顶新势力销量榜首。 零跑已经熟练掌握了用极致性价比对标明星车型、撬动下沉市场的打法。在B01发布会上，零跑用频繁 的对标和强调，将"半价Model 3"之名顺理成章加在了B01头上，这样做的结果是72小时B01的锁单量突 破1万辆。 曹力的表态被解读为零跑对"半价版"标签的反感。然而，董事长朱江明此前已有回应，称"半价理想"是 外界对零跑产品力的认可，实为品牌加分项。只不过，零跑主打15—20万元区间的C系列车型才是对标 理想的核心产品。而定位更高、30万元以上的D系列如果还与"半价理想"标签捆绑，将对其冲击高端线 百害而无一利。 零跑一直在为其高端线产品铺垫。在B01发布会的采访中，朱江明明确表态"零跑绝不做网约车"，旨在 为高端产品减少品牌阻力。从推出C系列开始，零跑就在为D系列埋下伏笔，因为这是其追求健康毛利 率的关键一环。 尽管如此，从目前的市场 ...

8月1日，零跑汽车公布7月全系交付达50129台，同比增长超126%。7月，零跑汽车还首次入围《财富》中国500强。 推动零跑销量高歌猛进的主力车型是被称作"半价理想"的C系列SUV，在15–20万元价位中复刻了理想的智能化和舒适体验，助推零跑连续四个月登顶新 势力销量榜首。 零跑已经熟练掌握了用极致性价比对标明星车型、撬动下沉市场的打法。在B01发布会上，零跑用频繁的对标和强调，将"半价Model 3"之名顺理成章加在 了B01头上，这样做的结果是72小时B01的锁单量突破1万辆。 这种"高配低价"模式看似简单，却鲜有新势力能效仿。这背后需要老道的成本控制能力、支撑"全域自研"的体系资源，以及对自研项目的精准取舍……这 些要素齐聚实属不易。 性价比是零跑的成功密码，然而其高端化困局也源于此。7月28日，"零跑高管回应半价理想称号"话题登上微博热搜，阅读量超2000万。事件起因是零跑 科技副总裁曹力在微博澄清，其首款冲击30万元的D系列旗舰SUV并非"半价理想"。 曹力的表态被解读为零跑对"半价版"标签的反感。然而，董事长朱江明此前已有回应，称"半价理想"是外界对零跑产品力的认可，实为品牌加分项。只不 过，零 ...

Core Insights - Leapmotor has achieved significant sales growth, becoming the sales champion among new energy vehicle manufacturers, with deliveries reaching 22.17 million units in the first half of 2025, a year-on-year increase of 156% [2][13] - Despite its sales success, Leapmotor lacks brand recognition and consumer loyalty, with many potential buyers expressing skepticism about its value and quality [6][7] - The company's strategy focuses on providing high-value configurations at competitive prices, effectively positioning itself as a "half-price ideal" alternative in the market [4][10] Sales Performance - Leapmotor's sales surged from 37,000 units in March to 48,000 units in June 2025, marking a nearly 30% increase over four months [1] - The company has maintained a leading position in the market, outpacing competitors like Li Auto and Xpeng [2][3] Product Strategy - Leapmotor has adopted a range-extended electric vehicle (REEV) strategy, which has proven effective in addressing consumer concerns about charging infrastructure and costs [3][17] - The company offers a simplified product lineup with various configurations, making it easier for consumers to choose [4][10] Supply Chain and Cost Management - Leapmotor employs a cost-effective supply chain model, utilizing second-tier suppliers to reduce costs and extend payment terms, which enhances its pricing strategy [11][15] - The company has successfully created a production loop that leverages resources from previously unsuccessful manufacturers, allowing it to maintain low prices while offering competitive features [11][19] Market Positioning - Leapmotor targets pragmatic consumers who prioritize value and convenience over brand prestige, focusing on delivering practical solutions rather than aspirational marketing [7][8] - The company's marketing strategy relies on grassroots efforts and direct engagement with consumers, rather than high-profile branding campaigns [7][8] Financial Performance - In Q1 2025, Leapmotor reported revenues exceeding 10 billion yuan, with a gross margin of 14.9% and a narrowed quarterly loss of 130 million yuan, indicating a move towards profitability [13][14] - However, concerns exist regarding the sustainability of its profit margins, as the company faces challenges in maintaining its cost structure amid rising raw material prices [14][15] Challenges Ahead - Leapmotor's reliance on range-extended models may limit its potential for higher profit margins, as the complexity of dual systems can hinder efficiency [17][18] - The company must navigate potential pitfalls related to brand perception and service quality as it scales, which could impact future growth [6][7][8]