This is Leapmotor's sixth consecutive month of record deliveries, meeting its annual target of 250,000 vehicles ahead of schedule.
Leapmotor (HKG: 9863), the Chinese new energy vehicle (NEV) maker backed by Stellantis NV (NYSE: STLA), saw another record month of deliveries and met its annual target.
Leapmotor delivered 40,169 vehicles in November, marking the first time monthly deliveries have exceeded the 40,000 mark and the sixth consecutive month of record highs, according to data it released today.
This is an increase of 117.04 percent from 18,508 vehicles in the same period last year and up 5.22 percent from 38,177 in October.
In the January-November period, Leapmotor delivered 251,207 vehicles, an increase of 100.11 percent year-on-year, achieving its full-year sales target ahead of schedule.
In 2025, Leapmotor will challenge an annual sales target of 500,000 units, the company said, repeating a previously mentioned goal.
Since its inception, Leapmotor has delivered 557,031 vehicles, according to data compiled by CnEVPost.
Founded in 2015, Leapmotor is one of the first new car-making forces in China. It will celebrate its ninth anniversary on December 25.
The company currently sells the T03, C01, C10, C11, and C16 in China, with all models except the T03 offering both battery electric vehicle (BEV) and extended-range electric vehicle (EREV) variants.
Leapmotor made the domestic debut of the B10, the first model of the B-series, on the first day of the Guangzhou auto show on November 15, after the international debut of the new SUV (sport utility vehicle) at the Paris auto show a month earlier.
The all-electric SUV is the first to be based on the Leap 3.5 architecture, which Leapmotor said targets the world's largest market segment with its diverse range of products.
The B10's official launch will take place in the first quarter of 2025 and will target a price range of RMB 100,000 ($13,810) to RMB 150,000.
The company is working with Stellantis, Europe's second-largest automaker by sales volume, to expand overseas and has already begun selling vehicles in more than 10 European countries.
On November 25, Leapmotor signed a strategic cooperation agreement with Myanmar's NPK Motor to assemble vehicles in the Southeast Asian country under the SKD (Semi Knocked Down) model.
($1 = RMB 7.2429)
Leapmotor sees strong revenue growth, record gross margin in Q3
