Leapmotor Imitate BYD's Steps To Be Able To Compete In The Global Market

Leapmotor T03. (Doc. Stellantis)

JAKARTA A automotive manufacturer from China, Leapmotor is stealing attention by further strengthening its position in the international market, especially after working with Stellantis in Europe. This move reinforces Lapmotor's ambition, which is based in Hangzhou, to compete at the global level.

Recently, Leapmotor revealed big plans for its global expansion, including the launch of a new model and innovative strategy to bring vehicles at affordable prices. The company plans to release a segment A car or even smaller, which is expected to contribute around 60-70 percent in the European market. Leapmotors are also committed to launching at least one new model every year.

Leapmotor CEO Zhu Jiangming stated that the company's ability to present models at competitive prices is supported by independent technology research and innovation. Leapmotors rely on independent development and manufacture of spare parts to keep costs low.

Both for premium and more affordable models, the profit margin is the same. Our goal is to allow users to get more complete and quality products at affordable prices," Zhu Jiangming said, as quoted by CarNewsChina, Thursday, November 7.

This approach allows Leapmotors to reduce spending on suppliers and cut production costs through program optimization, so that consumers get vehicles at a more competitive price.

The Leapmotor strategy is similar to their competitor, BYD, who has successfully developed its own technology in various aspects of its vehicles.

In Europe, Leapmotor has introduced its flagship models such as C10 and T03. Not only that, but the manufacturer also launched B10 in a recent Paris Motor Show. Now, Lapmotor vehicles can be found in 13 European countries, including France, Germany, Italy, Spain and the UK.

Unmitigated, Leapmotor has opened 200 outlets in Europe which include a full-sales, sales and service space. The company targets to expand the network to reach 500 outlets by the end of 2025.