Chinese EV startup Leapmotor said to go public on STAR Market in H2 2021

Shanghai (Gasgoo)- Chinese EV innovator Leapmotor intends to be listed on the technology-focused Science and Technology Innovation Board (STAR market) in the second half of 2021, according to a local media, citing sources familiar with the matter.

Leapmotor has not released any official announcement when the report is prepared.

Leapmotor S01; photo credit: Leapmotor

Founded in 2015, the Hangzhou-based EV startup has rolled out into the market two mass-produced models, namely the S01 and the T03. Unlike most startups who choose SUV as their first mass-produced model, Leapmotor's first production vehicle, the S01, is positioned as a small-sized all-electric coupe.

Leapmotor T03; photo credit: Leapmotor

In May, the T03, the company's second mass-produced model, hit the market with prices ranging from 59,800 yuan ($9,105) to 75,800 yuan ($11,540) after subsidy. Powered by a 55kW electric motor and has a battery capacity of 36.5 kWh, the T03 offers an NEDC range of 403km. The dimensions of 3,620/1,652/1,577mm and the wheelbase of 2,400 mm put it in the league of mini-sized cars.

Leapmotor said it sold 1,743 new vehicles in October, a month-on-month increase of 66%. The cumulative sales for the first ten months totaled 6,335 units. The sales of the T30 are expected to reach 2,000 units in November, according to Wu Baojun, co-founder and CEO of Leapmotor.

Leapmotor C11; photo credit: Leapmotor

Leapmotor launched the C11, its third production model, at the Auto Guangzhou 2020. The new all-electric SUV measures 4,750mm long, 1,905mm wide and 1,650mm high, and has a wheelbase of 2,930mm. Presale is set to kick off in December with prices ranging from 160,000 yuan ($24,360) to 200,000 yuan ($30,450).