Stellantis-backed Leapmotor hits 100,000 sales for fourth-straight quarter
JINHUA, CHINA – JULY 16: Employees work on the assembly line of new energy vehicles at the smart Leapmotor factory in Jinhua, China’s Zhejiang Province, on July 16, 2025. (Photo: Jin Sicheng, Zheng Yali, Shi Kuanbing/Zhejiang Daily Press Group/VCG via Getty Images)
VCG | Visual China Group | Getty Images
A Hong Kong-listed automaker is gaining momentum just as electric car giant BYD is struggling in its home market.
Powered by Stellantis bounce engine he said on wednesday 110,155 new energy vehicles were delivered It increased by approximately 26% in the first three months of the year compared to a year ago. That figure surpassed 100,000 units for the fourth consecutive quarter.
BYD It maintained its clear market leadership in China with 688,993 cars sold in the first quarter. However, this represented a 30% decrease compared to the previous year.
Amid fierce competition in China’s slowing economy, BYD did not disclose its domestic sales target but said it aims to sell more than 1 million cars abroad this year. The automaker’s exports rose more than 55% to 321,165 vehicles in the first quarter.
Leapmotor does not lose monthly foreign sales. The company said last month it plans to sell 1 million cars in China this year, with a much smaller export target of 100,000 to 150,000 cars.
But most 50,029 deliveries Last month Leapmotor outperformed most of its domestic rivals.
Chinese startup Li Auto reported 41,053 deliveries March and total 95,142 for the quarter – up 2.5% year over year, beating the company’s record 85,000 to 90,000 target deliveries for the quarter.
automobile manufacturer NioSimilarly, the company that achieved its first quarter profit at the end of 2025 quarterly target 80,000 to 83,000 units, notch 35,486 deliveries 83,465 in March and quarter – almost double from the previous year. The total figures include cars from Nio’s lower-priced brands Onvo and Firefly.
After Xiaomi announced an upgrade to its widely popular SU7 electric sedan in mid-month. More than 20,000 EV deliveries In March, it brought its quarterly total to more than 79,000, up 14.5% from the same period a year ago.
Geely’s EV brand Zeekr reported 29,318 EV sales In March, the figure was 77,037 for the quarter; with an annual increase of 86%.
Besides BYD xpeng It was the other major EV automaker to see a decline in sales at the beginning of 2026. Guangzhou-based automaker registered 27,415 deliveries in March and 62,682 in the quarter — A decrease of 33.3% compared to the first quarter of 2025.
Leapmotor’s competitive advantage
Leapmotor also partnered with European automotive conglomerate Stellantis for the global market.
The Chinese company said it has more than 800 sales and service points in Europe by the end of 2025, in addition to at least 30 in South America. Leapmotor made further push abroad, opens its first overseas innovation center In Munich, Germany, on March 20.
Leapmotor, together with Stellantis, also In talks to produce EVs in CanadaBloomberg reported Wednesday, citing people familiar with the matter. CNBC has reached out to Stellantis for comment.
Chinese electric vehicles have made a rapid entry into Europe despite EU tariffs. In December, 9.3% of all new cars sold in the EU were produced in China, with Chinese-made cars accounting for this figure. 20.6% of all new car sales UK consultancy Rhodium Group said in a report published Wednesday.
