--- title: "Chinese EV Maker Leapmotor Lifts Overseas Sales Target to 200,000 Units, VP Says" type: "News" locale: "en" url: "https://longbridge.com/en/news/296860995.md" description: "Chinese EV maker Leapmotor raised its 2024 overseas sales target to 200,000 units, up from 150,000, leveraging Stellantis' global network. The company aims for 350,000-400,000 overseas units next year. Leapmotor reported a 600% YoY net profit increase to CNY210 million in H1 2024 and revenue growth of 57%. While prioritizing sales expansion over immediate profitability, Leapmotor plans localized production in Spain and Brazil to mitigate EU tariffs and establish long-term market presence." datetime: "2026-08-25T05:01:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296860995.md) - [en](https://longbridge.com/en/news/296860995.md) - [zh-HK](https://longbridge.com/zh-HK/news/296860995.md) generator: "portal-rs" --- # Chinese EV Maker Leapmotor Lifts Overseas Sales Target to 200,000 Units, VP Says (Yicai) Aug. 25 -- Leapmotor Technology, a leading Chinese electric car manufacturer, expects to sell 200,000 units overseas this year by leveraging the global production and sales networks of its partner Stellantis, raising its goal from 100,000 to 150,000 units set at the start of the year, according to its vice president. Leapmotor has also set its overseas sales target at 350,000 to 400,000 units for next year, Li Tengfei, who is also chief financial officer of the firm, said at a first-half earnings conference call late yesterday. Rapid overseas expansion has delivered vital performance increments for Leapmotor amid fierce competition in the domestic EV market. Previously, the carmaker said it aims to sell one million vehicles this year, including 100,000 to 150,000 overseas, while targeting an annual profit of CNY5 billion (USD686.9 million). Leapmotor prioritizes overseas sales growth at this stage to seize a critical development window in global markets, Li noted, adding that while profitability matters, sales expansion takes priority. Stellantis' sufficient spare overseas production capacity enables Leapmotor to select optimal offshore plants by comprehensively evaluating production capacity, local manufacturing costs, and regional component‑supply conditions, he pointed out. Leapmotor sold 457,800 units in the first seven months of this year, including 113,000 units overseas. Its global monthly sales topped 101,300 units last month, making it China's first EV startup to sell over 100,000 in a single month and putting it in direct competition with mainstream carmakers. Leapmotor International, the joint sales venture between Leapmotor and Stellantis, has been key to driving Leapmotor's rapid overseas sales growth. Drawing on the European firm's dealer network, the JV has substantially cut costs and shortened the timeline for developing a standalone sales network. As of June 30, Leapmotor International has built more than 1,000 sales and after‑sales service outlets across more than 45 markets covering Europe, South America, North America, Asia‑Pacific, the Middle East and Africa. Over 900 of these are in Europe. All of Leapmotor's overseas sales come from complete vehicle exports from China. Stellantis' Zaragoza plant in Spain will likely commence complete knock-down assembly of the Leapmotor B10 in October and start trial production of the B05 within the year. In addition, Stellantis' Goiânia plant in Brazil will serve as Leapmotor's assembly base for South America. According to the Hangzhou-based company's executives, the Brazilian factory will likely begin mass production of the B10 in the second half of next year. "Localized production has always been a key strategic direction for Leapmotor's global expansion," Li noted. The shift from complete vehicle exports to localized manufacturing is a reactive measure against European Union tariff barriers and a proactive move to establish a long-term presence in overseas markets, he said, adding that Europe is expected to remain the firm's major overseas market next year, while the share of sales in South America will increase. Localized production helps cut tariff costs, but overseas component costs are markedly higher than in China, Li stressed. As a result, the existing gross margin improvements from offshore production fall short of initial expectations, he said. The value of overseas localized production will materialize gradually, Li pointed out. "Localization will drive improvements in corporate net profit not in the immediate term, but in the near future." In a financial report released on the same day, Leapmotor said net profit rose 600 percent year on year to CNY210 million (USD28.9 million) in the six months ended June 30 from a year earlier, while revenue surged 57 percent to CNY38.1 billion (USD5.2 billion). Leapmotor first turned a profit in the fourth quarter of 2024, but has alternated between quarterly profits and losses since. However, it has posted profits for three consecutive half‑year periods starting from the first half of last year. Stellantis owns 19 percent of Leapmotor. The European auto giant has a 51 percent stake in Leapmotor International, which was set up to handle sales outside of the Chinese mainland. Editors: Tang Shihua, Martin Kadiev ### Related Stocks - [09863.HK](https://longbridge.com/en/quote/09863.HK.md) - [STLA.US](https://longbridge.com/en/quote/STLA.US.md) ## Related News & Research - [Leapmotor confirms move into embodied robotics, says details coming soon](https://longbridge.com/en/news/296862549.md) - [Vertu Motors partners with Leapmotor to launch first UK dealership near Harrogate](https://longbridge.com/en/news/296770338.md) - [LEAPMOTOR Confirms Robotics Biz Layout; Formal Announcement to Be Made Soon](https://longbridge.com/en/news/296853915.md) - [China's FAW, Leapmotor sign agreement to deepen strategic cooperation](https://longbridge.com/en/news/296793126.md) - [Chinese EV Maker Leapmotor Is Out of 'Survival Warning' Phase, Founder Says](https://longbridge.com/en/news/295747033.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**