Leapmotor, the Chinese electric vehicle (EV) manufacturer, has reported its first annual profit, marking a significant turnaround for the company. This milestone comes after substantial revenue and sales growth in 2025, alongside key investments from both Stellantis and state-owned enterprise FAW Equity Investment.
Rapid Expansion Since 2019
Founded in 2015 and beginning sales in 2019, Leapmotor has experienced rapid growth in a competitive EV market. The company’s trajectory accelerated in late 2023 when Stellantis acquired a 20% stake for €1.5 billion ($1.77 billion USD). This injection of capital and expertise proved pivotal in the following year.
Key Financial Results for 2025
Leapmotor’s 2025 financial report demonstrates a striking recovery:
- Revenue: Surged 101.3% to 64.72 billion yuan ($9.38 billion USD).
- Gross Profit Margin: Reached a record high of 14.5%.
- Net Profit: A net profit of 540 million yuan ($76.85 million USD) was achieved, reversing the 2.82 billion yuan ($410 million USD) net loss from 2024.
- Vehicle Deliveries: Increased by 103% year-over-year, totaling 596,555 units globally.
The company attributed this growth to increased vehicle and parts deliveries, supported by the launch of three new models: the B10 crossover, the B01 sedan, and the Lafa 5 (B05) hatchback.
Strategic Partnerships and Overseas Expansion
Leapmotor’s success is partly attributable to strategic partnerships. In August 2025, the company announced its first semi-annual net profit of 30 million yuan ($4.17 million USD). Later in the year, FAW Equity Investment (Tianjin) acquired a 5% equity stake for 3.74 billion yuan ($530 million USD), further solidifying the company’s financial position.
The partnership with Stellantis has also driven overseas sales, with 67,052 units delivered outside China in 2025. As of December 2025, Leapmotor operates 900 sales and after-sales service outlets across 40 countries.
Future Production Plans in Spain
Leapmotor is expanding its international footprint through a CKD (completely knocked down) local assembly project in Spain. Production of the B10 crossover and B05 hatchback is scheduled to begin in October 2026, with trial production of the B05 starting in June 2026 and full-scale production expected in 2027.
Leapmotor’s rapid profitability underscores the growing competitiveness of Chinese EV manufacturers and their ability to attract significant investment from global automotive giants. The company’s success signals a broader trend of increasing state and foreign investment in the Chinese EV sector, positioning it as a key player in the global transition to electric vehicles.
