Chinese EV maker Leapmotor is looking to disrupt the electric car market with a range of new offerings across multiple segments. CNEVpost reported on March 18, 2022, that the brand will introduce up to three models annually for a few years with the target of launching eight new EVs with different body styles before the end of 2025. The announcement is no surprise as Chinese EV makers are going all guns blazing on the EV front across the globe. China is currently the largest EV market and local brands are pulling out all shots from their arsenal to capitalize on the opportunity.
Technology & new Leapmotor EVs
Leapmotor’s EV platform will spawn multiple models, including sedans, SUVs, and MPVs. Two sedan models christened A01 and D01 are in the works. SUVs are the rage worldwide, and Leapmotor will address the popularity with two SUVs christened A11 and A12. A robust in-house setup will aid the development process. In its current EV portfolio, there are three offerings; C11 mid-size SUV, T03 city car, and the S01 coupe. The C01 is the brand’s upcoming luxury sedan; it will be the first Leapmotor EV to feature cell-to-chassis technology where the battery is a structural part, improving the EV’s torsional rigidity.
The Hangzhou-based company has mentioned that it has in-house research and development facilities on its website. The chips and core technologies for Leapmotor EVs are also designed in-house. Additionally, d1ev reported on March 20, 2022, that Leapmotor is self-sufficient in battery and interior development. However, it will have to work with suppliers for chassis and electronic components. The upcoming cars are also expected to feature cutting-edge technology like cell-to-chassis. The C01 sedan is expected to have an ultra-long-range battery that will offer 435 miles (700 km) range on the NEDC.
Financial backing
Many investors have shown faith in the brand’s ambitions. Bloomberg stated in October 2021 that Leapmotor might raise over USD 1 billion at the Hong Kong IPO. The brand is backed by China International Capital Corporation, Citi, JPMorgan Chase, and CCB International. Cnevpost reports that the start-up has garnered solid financial backing, with funding close to USD 1.7 billion. Market response to Leapmotor seems satisfactory, with the brand having delivered over 43,700 EVs in 2021. It represents a 443% year-on-year growth, yet is meager given the size of China’s electric car market.
Prices & Release Dates
The C01 sedan is due in Q2, 2022 in China and is expected to be launched in Europe later alongside the C11 SUV. In China, the electric sedan A01 may cost between USD 15,707-23,561, while the D01 is expected to be priced between USD 40,000-80,000, according to d1ev’s report. The A11 SUV may be priced in the same range as the A01 sedan, while the A12 SUV will be more premium, slotting in the USD 31,000-40,000 range. These models are due in 2025.
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