Market Chatter: Leapmotors is Boosting Production Capacity, Expects Double Sales

MT Newswires Live11-15

Leapmotor expects to sell 250,000 units this year and plans to double it to 500,000 units next year, Yicai reported on Wednesday, citing Zhu Jiangming, the company's chairman.

The Chinese EV maker expects to achieve profitability and 10% overseas sales. The company nearly doubled Q3 shipments, up 94.4% to 86,200 units, with revenue rising 74.3% to 9.8 billion yuan, Yicai said.

Leapmotor plans to expand capacity to one million units by 2026, including a new factory in Hangzhou and a third factory in Jinhua. The company will boost European production with Stellantis and is expanding into South America, Asia-Pacific, and beyond to tackle dumping duties, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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