Leapmotor (HKG: 9863) has recently introduced the updated T03 compact electric vehicle (EV), marking a significant shift in its pricing strategy. The new T03 model offers two variants starting at RMB 59,900 ($8,270) and RMB 69,900, respectively, with the previous lowest-priced variant priced at RMB 49,900 no longer available.
The Chinese new energy vehicle (NEV) manufacturer, which is backed by Stellantis NV (NYSE: STLA), unveiled the updated T03 in China, featuring lithium iron phosphate battery packs with capacities of 31.9 kWh and 41.3 kWh. The two variants boast CLTC ranges of 310 kilometers and 403 kilometers, respectively.
Compared to the 2024 T03 model launched in March last year, the latest iteration has seen a consolidation in pricing and specifications. The previous version offered three versions with starting prices of RMB 49,900, RMB 59,900, and RMB 69,900, along with CLTC ranges of 200 kilometers, 310 kilometers, and 403 kilometers, respectively.
The Leapmotor T03 is classified as an A0-class 4-seat battery electric vehicle (BEV) with dimensions of 3,620 mm in length, 1,652 mm in width, and 1,605 mm in height, featuring a wheelbase of 2,400 mm. The updated T03 is a single-motor front-drive model, with the two variants boasting peak motor powers of 55 kW and 80 kW, respectively.
The more affordable variant can accelerate from 0 to 50 kilometers per hour in 5 seconds, while the higher-priced model achieves the same feat in 4.1 seconds, with a top speed of 100 kilometers per hour.
To incentivize early adopters, Leapmotor is offering limited-time promotions for customers who purchase the updated T03 before February 28. These offers include a RMB 6,000 reduction in the final payment, a financing interest subsidy of up to RMB 2,000, and a complimentary home charger valued at RMB 2,680. Additionally, customers can benefit from a national trade-in subsidy of up to RMB 20,000, resulting in potential savings of up to RMB 30,680.
Moreover, Leapmotor has integrated AI models from Chinese AI firm DeepSeek into its cockpit system for enhanced user experience. However, this feature is exclusive to the more expensive C-series models.
In terms of its product lineup, Leapmotor currently offers the T03, C01, C10, C11, and C16 models in China, with all but the T03 available in both BEV and extended-range electric vehicle (EREV) variants.
In January, the company delivered 25,170 vehicles, reflecting a 40.8% decline from December but a 105.02% increase from the same period last year. Since its inception, Leapmotor has delivered a total of 624,718 units by the end of January 2025.
Looking ahead, Leapmotor aims to achieve a target of 500,000 vehicle deliveries for the full year 2025. In 2024, the company delivered 293,724 vehicles, marking a 103.76% increase from the previous year.
Overall, the updated T03 reflects Leapmotor’s commitment to innovation and customer satisfaction, setting a new benchmark for compact EVs in the Chinese market.
