Leapmotor strengthens strategic partnership with Industrial Bank's Hangzhou Branch

Beijing (Gasgoo)- On February 14, Chinese new energy vehicle maker Leapmotor held a strategic cooperation ceremony with Industrial Bank's Hangzhou branch. Under the agreement, the two parties will leverage their respective strengths in industrial ecosystems and financial services to deepen collaboration in credit financing, green finance, digital finance, and industrial investment.

Signing ceremony; photo credit: Leapmotor

Since 2022, Leapmotor and Industrial Bank's Hangzhou Branch have been cooperating through equipment renewal loans. In March 2024, with the bank's "nationwide business processing in one location" initiative, Leapmotor launched its first dealer prepayment financing project, enabling dealers to procure vehicles more efficiently. Industrial Bank has continuously optimized business processes to support Leapmotor's sales expansion and competitive growth in the new energy vehicle sector.  

In 2024, Leapmotor delivered nearly 300,000 vehicles, marking a year-on-year surge of over 100%. It also became one of the few automakers to surpass its annual sales target in China. As Leapmotor continues its rapid growth, Industrial Bank is further enhancing its financial support. The bank's Hangzhou branch has established a dedicated service team covering Leapmotor's supply chain, subsidiaries, and dealers, with total credit granted now exceeding 10 billion yuan.