CX Briefing: Leapmotor Steps Closer to Profitability

A rundown of the news making headlines in and around China:

Leapmotor’s sale surge: Zhejiang Leapmotor Technology Co. Ltd. got off to a strong start to the year in which it hopes to finally turn an annual profit. The electric-vehicle (EV) maker announced Monday that it sold 87,552 vehicles in the first quarter of 2025, more than it did in the first half of 2024. The sales jump helped the automaker narrow its net loss for the quarter by more than 80% year-on-year to 130 million yuan ($18 million). The automaker’s quarterly revenue nearly tripled from the previous year to over 10 billion yuan. Leapmotor aims to turn profitable in 2025. Although China’s homegrown auto brands have come to dominate the domestic car market, most are still losing money each year. In March 2024, Li Auto Inc. became the first of China’s major EV upstarts to report an annual profit.