Wedoany.com Report-Jan. 2, On December 29th, Leapmotor CEO Zhu Jiangming stated at the company's Hangzhou headquarters that the company aims to achieve an annual sales target exceeding 4 million vehicles within the next decade. The company has also set a phased target of selling 1 million vehicles by 2026, with its global expansion strategy to be advanced jointly with its partner, Stellantis Group.

Zhu Jiangming indicated that the company will launch a premium model series priced above 250,000 yuan (approximately $34,300). This ten-year-old automaker has been active in the Chinese market, experiencing rapid sales growth. Its flagship model, the C10 electric SUV, starts at 142,800 yuan. According to data from the China Passenger Car Association, Leapmotor's sales in the Chinese market reached 482,447 units in the first 11 months of 2025, nearly doubling year-on-year.

Zhu Jiangming believes that independent R&D and production of key technologies are central to maintaining its cost competitiveness. He stated, "Components accounting for 65% of the value in its cars are developed by Leapmotor, giving it a 10% cost advantage over its peers."

On the same day, Leapmotor announced it would establish a technology partnership with state-owned automaker China FAW Group. According to the agreement, Leapmotor will issue 74.8 million shares to FAW Group at a price of 50.03 yuan per share via a private placement. The two parties plan to collaborate on developing and producing vehicles starting in 2026. FAW Group CFO Li Tengfei said, "Together with the controlling stake held by the founding members, this stable triangular equity structure can better support Leapmotor's future leading position." He also mentioned that neither FAW Group nor Stellantis, which has already invested in Leapmotor, intends to seek control of the company.

Regarding overseas production, Leapmotor Vice President in charge of the supply chain, Shu Chuncheng, revealed that the company plans to commence production in Spain in 2026. To meet local requirements, it is expected that 40% of the components' value will be sourced locally.