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China: EV startup Leapmotor charges into top-selling rank in China

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[Voiceover] In the first half of 2025, a relatively little-known Chinese EV company sold over 220,000 vehicles, skyrocketing to become the No. 1 best-selling EV startup in China. The automaker is Leapmotor. Its factory in Jinhua, eastern China, is where I came to find out how it went from under-the-radar to this fast growth path. [Standup] Wang Tianyu, Anchor-reporter: "It’s very dark in here and that’s the point. No workers, no lights. This place runs fully on its own." [Voiceover] Leapmotor’s target market is "affordable EVs", with an average price of around 160,000 yuan – or roughly 22,000 US dollars. Its electronics, motors and battery packs are all produced in-house. [Soundbite] Li Kai, Supervisor, Leapmotor Battery Production: "Our biggest advantage is self-design and development. All core battery components are made in-house." [Voiceover] But it’s not just about manufacturing – it’s about controlling its range of technologies. With that foundation, Leapmotor delivered over 50,000 vehicles in July alone – more than doubling its sales from a year ago. [Standup] Wang Tianyu, Anchor-Reporter: "Leapmotor is able to produce up to 800,000 cars a year, and these cars will be sold to every corner of the world." [Voiceover] In late 2023, global automaker Stellantis invested 1.6 billion dollars to acquire around 20 percent stake in Leapmotor. Together, they launched Leapmotor International – a joint venture led by Stellantis, which handles exports and manufacturing outside Greater China. Through this partnership, Leapmotor began selling in Europe in September 2024. This factory isn’t just building tomorrow’s EVs – it’s exporting them and even producing them abroad. [Restrictions: No access Chinese mainland]

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