Core Insights - The article highlights the competitive landscape of the automotive industry, focusing on the ongoing debate between self-research and external procurement of core technologies. Traditional automakers are shifting towards sourcing key technologies from the Chinese supply chain, with self-researched solutions gaining prominence [3][6][12]. Group 1: Company Achievements - Leap Motor has achieved significant milestones, including the production of its one-millionth vehicle, becoming the second Chinese new energy vehicle company to reach this milestone after Li Auto [6][8]. - In September, Leap Motor reported a monthly delivery of 66,657 vehicles, marking a record for new force brands and maintaining its position as the sales leader for seven consecutive months [6][10]. - The company is projected to deliver 144,155 vehicles in 2023, a year-on-year increase of nearly 30%, and aims for approximately 300,000 deliveries in 2024, representing a growth of about 103.8% [8][10]. Group 2: Growth Dynamics - Leap Motor's growth trajectory is characterized by a rapid increase in delivery rates, with a cumulative delivery of 395,516 vehicles from January to September 2025, and a monthly growth rate exceeding 97% in September [10][12]. - The company has demonstrated a unique market logic and product competitiveness, maintaining growth despite a slowing market and increasing price wars [10][12]. Group 3: Technological Strategy - Leap Motor's core strategy revolves around "full-domain self-research," which has led to significant technological advancements in areas such as electric drive systems and integrated battery chassis technology [12][14]. - The self-research approach allows the company to quickly adapt to market demands and technological trends, reducing reliance on suppliers and enhancing pricing power [12][14]. Group 4: Market Positioning - The company has developed a comprehensive product matrix covering various segments, including sedans, SUVs, and MPVs, ensuring a broad market appeal [16][18]. - Leap Motor's "good but not expensive" strategy is rooted in its self-research capabilities, allowing it to offer high-quality products at competitive prices [14][18]. Group 5: Operational Excellence - The one-million vehicle milestone reflects Leap Motor's robust capabilities in supply chain management, production, quality control, and market strategy [20][22]. - The company has successfully expanded into international markets, exporting over 30,000 vehicles and ranking first among Chinese new energy brands in this regard [20][22]. Group 6: Financial Performance - Leap Motor achieved its first half-year profit in 2025, becoming the second new force car company to do so, indicating a shift towards sustainable profitability [22][24]. - The company has been recognized in the Fortune China 500 and the China Top 500 Private Enterprises lists, underscoring its successful business model based on core technology and cost control [24].