Leapmotor, a rising star in China’s electric vehicle (EV) sector, has unveiled an ambitious target of achieving over 4 million units in annual electric vehicle sales by 2035. The company’s CEO, Zhu Jiangming, shared this bold vision during a recent announcement in Hangzhou, China. This marks a significant milestone in Leapmotor’s growth strategy, positioning the company as a challenger to established EV giants. The firm aims to reach 1 million vehicle sales by 2026 as part of a broader plan to expand both domestically and internationally.
Innovation, strategic partnerships, and a focus on cost efficiency fuel Leapmotor’s rise. As the company diversifies its product offerings, it seeks to capture a larger share of the global electric vehicle market by capitalizing on increasing demand for clean transportation solutions.
Domestic Growth and Competitive Advantages
Leapmotor’s domestic success has been impressive. In the first 11 months of 2025, the company delivered 482,447 vehicles, almost doubling its output from the previous year. This achievement highlights Leapmotor’s growing market share in China, where competition is fierce among homegrown EV brands like BYD and NIO.
One of Leapmotor’s competitive advantages lies in its ability to produce many of its vehicle components in-house. According to Zhu, around 65% of the parts by value in Leapmotor’s vehicles are developed internally. This approach provides a significant cost advantage, lowering production costs by 10% compared to competitors who rely heavily on third-party suppliers. By maintaining control over key components, Leapmotor is better positioned to scale its operations and compete effectively in the fast-growing electric vehicle sector.
Global Expansion Plans with Strategic Partnerships
Leapmotor’s growth strategy extends beyond the domestic market. The company has formed strategic alliances with major players like FAW and Stellantis to strengthen its international presence. Leapmotor has issued 74.8 million new shares to FAW, a state-owned automaker, to develop new vehicles starting in 2026 jointly. This partnership will bolster Leapmotor’s research and development capabilities, accelerating its push into global markets.
Leapmotor has also secured a partnership with Stellantis, which will help the company manufacture and sell vehicles outside of China. As part of its international expansion, Leapmotor plans to begin production in Spain in 2026. This new manufacturing facility will cater to the growing demand for electric vehicles in Europe. The company plans to source about 40% of its parts locally, ensuring compliance with European regulations and strengthening its competitive position in the region.
Leapmotor’s Premium Models and Future Outlook
In addition to expanding its product lineup, Leapmotor is set to introduce a range of premium vehicles priced above $34,300. This strategy aims to attract higher-income consumers seeking more upscale electric cars. By diversifying its offerings, Leapmotor is positioning itself as a brand that can cater to a wide range of customers. From budget-conscious buyers to those seeking luxury EV options.
Conclusion
Leapmotor’s focus on innovation, cost-efficiency, and global expansion makes it a company to watch in the electric vehicle market. With its bold targets for 2035, the company is aiming not only for domestic success but also for a significant presence in key international markets. Whether Leapmotor achieves its ambitious sales goal will depend on how effectively it executes its strategy and navigates the increasingly competitive EV landscape.
Keep following Arabwheels for daily updates and insights into the automotive industry!
