Top stories of Leapmotor in 2021

Leapmotor, a startup EV maker in China, witnessed its business growing stronger in 2021.

Leapmotor’s sales grew month after month during the year, with its new model C11 started deliveries. The company landed various means of financial support, raising solid monetary backup for nearly RMB20 billion.  

Moreover, the EV startup introduced its latest technologies in the electric and intelligent vehicle field.

Photo credit: Leapmotor

Let us take a year back and review what the company accomplished in 2021.

Leapmotor Dec. sales soar 368% YoY

After completing its annual target for new vehicle orders, China’s new energy vehicle startup, Leapmotor, finished the year strong, with its monthly sales record achieving a new high in December 2021.

In December, the auto startup delivered 7,807 vehicles in total, surging 39% from a month ago and 368% year on year. In 2021, the cumulative delivery volume of Leapmotor amounted to 43,121 vehicles.  

Leapmotor sets up powertrain technology subsidiary

China’s EV startup, Leapmotor, has established a new subsidiary, Zhejiang Lingsheng Power Technology Co., Ltd., according to the corporate database, Qichacha.

The new subsidiary was registered on December 20th, with Leapmotor’s founder, Zhu Jiangming as its legal representative and executive director. The company has a registered capital of RMB200 million and is wholly owned by Leapmotor. According to Qichacha, the business scopes of the company include electric motor/ control system R&D, auto parts R&D, intelligent control system integration, software development, IoT technical service.

Leapmotor introduces new intelligent electric power system at Auto Guangzhou 2021

China’s EV startup, Leapmotor, introduced its latest power technology achievements at its “Leap Power” conference at the Auto Guangzhou 2021.

In addition to its intelligent cockpit and intelligent driving applications, Leapmotor now offers an elevated intelligent power system with perception, memory, and learning abilities. Leapmotor calls it a “live” smart power composed of an intelligent electric drive system and battery system.

Leapmotor partners with China Construction Bank, securing RMB10 billion in capital

China’s EV startup, Leapmotor, has signed a strategic agreement with China Construction Bank, Zhejiang provincial Branch.

The agreement brings reciprocity and mutual benefit to both parties. Both parties will cooperate in offering various services, such as assets management, supply chain finance, auto finance, and settlement. Besides, the bank will provide nearly RMB10 billion in strategic funding support for the technology company in five years.

Leapmotor nabs 4.5 billion yuan in new financing round

Chinese EV startup Leapmotor announced on August 18 it has completed a new funding round with 4.5 billion yuan ($694.723 million) raised.

The newly-closed financing round was led by China Capital Investment Group, and also attracted China Securities, CITIC Dicastal, as well as the State-owned Assets Supervisions and Administrations Commission of Hangzhou Municipal Government. The governmental arm poured up to 3 billion yuan ($463.149 million) in this funding round.

Leapmotor releases new product launch plan for 2022-2024

Leapmotor recently unveiled the new product roll-out plan it set for the year of 2022 to 2024. According to the schedule, the Chinese EV startup plans to launch two or three all-new and refreshed models per year, which encompass sedans, SUVs, and MPVs.

Specifically, the company intends to release in 2022 the AWD (all-wheel drive) and the REEV (range-extended electric vehicle) versions of the C11, a facelift and the version for export of the T03, and the C01, an all-new full-electric sedan. The C12’s all-electric version (5-/6-seater) and the fire new compact SUV A11 are expected for launch in 2023. Moreover, the C02 sedan, the C13’s REEV and BEV (battery electric vehicle) versions, and the C21 range-extended MPV will be rolled out in 2024.

Leapmotor teams up with Hangzhou’s Qiantang New Area for NEV projects

Leapmotor signed an agreement with local authority of Hangzhou Qiantang New Area earlier this week for the cooperation on the EV startup's new energy vehicle (NEV) projects and the goal of jointly building an industrial cluster for intelligent-connected vehicles (ICV).

As an important automobile base to Zhejiang province, Hangzhou has an open environment for innovation and entrepreneurship, and boasts advantages in the combination of automotive industry and digitalization. Qiantang New Area has formed a full-fledged auto-related industrial cluster that has gathered over 100 automakers and auto parts suppliers. Local government is also vigorously pushing ahead with the construction of an ICV industrial base.

Leapmotor introduces Guosen Securities as new shareholder

Zhejiang Leapmotor Technology Co.,Ltd. (Leapmotor) has introduced a new shareholder, Guosen Securities, a Chinese state-owned financial services company headquartered in Shenzhen, according to the corporate data platform Qichacha.

Founded in Dec. 2015, Leapmotor involves a registered capital of around 789 million yuan ($122.074 million). The startup has a line of businesses including the development, design, production and sale of new energy vehicles (NEVs) and auto parts.

Leapmotor banks 4.3 billion yuan in series B funding

Leapmotor announced on Jan. 27 it raised a total of 4.3 billion yuan ($663.6 million) in its series B financing, exceeding the target by over 1 billion yuan ($154.326 million).

Investors involved in the B round include Hefei municipal government, SDIC Chuangyi, ZJU Jiuzhi Investment Management Co.,Ltd. and Yonghua Capital.

Leapmotor teams up with Hefei government to develop NEV business

Leapmotor recently entered into a strategic partnership with Hefei municipal government for an all-round in-depth cooperation on new energy vehicle (NEV) business. The agreement made the company the second Chinese EV startup supported by the capital of Anhui province following NIO.

Founded in 2015 and headquartered in Hangzhou, Leapmotor owns many core technologies developed in-house, which are related to battery, electric motor, electrical control unit, intelligent connectivity as well as autonomous driving.