On March 20, Leapmotor (9863.HK) announced the official opening of its Europe Innovation Centre in northern Munich, Germany. Located in the Schwabing-Freimann district, the center sits adjacent to the research and development headquarters of several leading global automotive brands. Leapmotor’s European Innovation Center As Leapmotor’s first overseas innovation hub, it marks a strategic pivot for the Chinese EV maker, moving from pure product exports toward a design-centric global expansion. This transition is backed by Leapmotor’s strongest annual financial results to date. According to its 2025 report, Leapmotor’s annual revenue reached RMB 64.73 billion, a year-on-year increase of 101.3%. Annual deliveries totaled 596,555 units, representing a second consecutive year of doubled sales growth. Crucially, the company recorded a net profit of RMB 540 million, marking its first-ever annual profitability and making it the second Chinese EV startup to reach this milestone after Li Auto. The Leapmotor Lineup As of the end of 2025, Leapmotor held RMB 37.88 billion in cash and cash equivalents. This robust liquidity provides the capital necessary to fund high-cost overseas operations and establish a coordinated global design network across Munich, Hangzhou, and Shanghai. The move to strengthen localized design in Europe follows a period of significant momentum in international markets. In 2025, Leapmotor led Chinese EV startups with 67,052 units exported. By the end of February 2026, its cumulative exports had surpassed the 100,000-unit mark. Growth has been particularly striking in Italy. According to Dataforce, Leapmotor recorded 5,006 registrations in Italy in February 2026, a year-on-year surge of 2,196%. This performance secured a 39.3% share of Italy’s battery electric vehicle (BEV) market and a leading 51.4% share in the retail passenger EV segment. However, the current sales mix remains heavily concentrated in the T03, an entry-level A0-class model. Proactive localization of high-end design is now seen as critical to avoiding a long-term perception of the brand as a budget-only player and to securing future premium pricing power. Leapmotor A10 During the opening ceremony, Leapmotor’s global design head used the B03X (known as A10 in China)—a strategic global SUV—to demonstrate the company’s latest design philosophy. Developed to meet diverse global market requirements, the model is scheduled to enter nearly 40 countries and regions.
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