Caixin
Oct 07, 2022 03:57 AM
BUSINESS

How a Mini Electric Hatchback Became One of China's Hottest EVs

In September, Hangzhou-based Leapmotor delivered 11,039 vehicles, a 200% jump from a year earlier
In September, Hangzhou-based Leapmotor delivered 11,039 vehicles, a 200% jump from a year earlier

(Bloomberg) — Zhejiang Leapmotor Technologies Ltd. has more than last week’s disastrous trading debut in Hong Kong to worry about. While the electric-vehicle maker’s T03 mini car is outselling the likes of Nio Inc. and Xpeng Inc. in China, it isn’t making a profit.

Sales of the compact four-seater EV are central to Leapmotor’s success, accounting for almost three-quarters of the startup’s total deliveries since inception.

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