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Leapmotor, a Chinese EV startup, recently showcased its first global model, the C10, at the IAA Mobility event in Munich. The C10 SUV is built on Leapmotor’s advanced Leap 3.0 architecture. Leapmotor’s CEO, Zhu Jiangming, emphasized that the IAA Mobility event “marks the starting point of Leapmotor’s globalisation strategy.” “Starting with the C10, all forthcoming Leapmotor models would be developed with global markets in mind and meet global standards,” stated Zhu.
The company has ambitious plans to roll out five new global models in the next two years. These models are targeted for sale in diverse markets, including Europe, Asia Pacific, the Middle East, and the Americas. Leapmotor’s journey began in 2015 and has since produced models like the mini EV T03, coupe model S01, flagship SUV model C11, and flagship sedan C01. Historically, the company’s sales were driven by the budget-friendly EV T03. However, with the introduction of the C11 and C01, Leapmotor is venturing into the mid-to-high-end EV market segments.
The company’s commitment to innovation is evident as all models on their C platform will offer both BEV and EREV versions. The C10 displayed in Munich featured a unique LiDAR on its roof, a technology not present in their other models. Leapmotor’s global strategy doesn’t stop at vehicle sales; they’re also exploring electrical and electronic architecture technology exports and manufacturing partnerships. In August, the company reported delivering 14,190 vehicles, with the C11 series accounting for over 70% of these deliveries.
The “Four Leaf Clover” architecture, an in-house development by Leapmotor, promises to control all intelligent functions of an EV. Zhu Jiangming expressed hopes of licensing this platform to other automakers, emphasizing, “We hope Leapmotor will not only be an EV brand but also a licensor of core technologies.” The company is reportedly in discussions with two foreign entities about potential tech partnerships. Leapmotor’s dedication to R&D is evident, having invested 11% of its 2022 revenue into research and development.
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The company’s collaboration with global component manufacturers like Nvidia, ZF, and Bosch strengthens its position in the EV market. Zhu highlighted the importance of “openness, co-creation, and global collaboration” for the rapid proliferation of intelligent EVs. Leapmotor’s new platform promises cost savings by reducing controls and wire harnesses, potentially saving 500 yuan ($70) per vehicle. The company’s future vision includes launching an improved version of their platform by 2025, focusing on enhanced computing capabilities.
Despite facing challenges from competitors like Tesla, Leapmotor remains at the forefront of EV technology innovation. The company’s sales in the first half saw a 14% decline, selling 44,500 units. However, their commitment to R&D positions them as a leader in EV technology, appealing to tech-savvy consumers. Recent collaborations in the EV industry, like the partnership between Volkswagen and Xpeng, hint at the dynamic shifts and potential alliances in the market. Leapmotor’s global vision, combined with its technological advancements, positions it as a significant player in the evolving EV landscape. With a blend of innovation, strategic partnerships, and a clear global vision, Leapmotor is poised to make a significant impact in the electric vehicle sector.
