Leapmotor hits sales record in August

Leapmotor delivered 57,066 vehicles in August, up 88 percent from a year earlier and the highest monthly total in its history, the Chinese carmaker said on Monday.

It was the sixth straight month the company led sales among China's NEV startups.

The company crossed 900,000 cumulative deliveries in August and reported its first half-year net profit, becoming only the second Chinese NEV startup to achieve profitability on that basis, after Li Auto.

The Hangzhou, Zhejiang province-based firm is accelerating its push abroad. Founder and Chief Executive Officer Zhu Jiangming said export sales remain among the strongest in the sector, with European orders recently hitting a record.

Leapmotor will unveil the Lafa 5, a new model aimed at younger buyers, at next week's IAA Mobility in Munich, Germany.

Leapmotor has also gained recognition beyond sales. In August, it joined the China Top 500 Private Enterprises ranking for the first time and was again listed among the Top 500 Private Manufacturing Enterprises. It had earlier entered the Fortune China 500.

Leapmotor, founded in 2015, develops core technologies in-house, including battery, motor and electronic systems. Stellantis NV acquired a stake in the company in 2023, and the two set up a joint venture this year to expand in overseas markets.