Leapmotor, a Chinese new energy vehicle (NEV) maker backed by Stellantis NV, recently announced its financial performance for the first half of 2025, reporting a net income of RMB 30 million ($4.2 million). This achievement marks the company’s first-ever positive profit for a half-year period, making Leapmotor the second Chinese NEV maker after Li Auto to achieve profitability on a half-year basis.
The strong financial results were driven by robust sales growth, with Leapmotor delivering 221,664 vehicles in the first half of the year, representing a significant year-on-year increase of 155.68 percent. In the first seven months, the company’s deliveries reached 271,793 units, showing a 149.84 percent year-on-year growth.
In light of its impressive sales performance, Leapmotor has raised its full-year 2025 sales target to a range of 580,000 to 650,000 units, up from the previous target of 500,000 to 600,000 units. Looking ahead, the company aims to achieve annual sales of 1 million units in 2026.
For the first half of 2025, Leapmotor reported revenue of RMB 2.425 billion, marking a 174.0 percent year-on-year increase. The company also achieved a gross margin of 14.1 percent, a record high since its establishment and a significant improvement from the 1.1 percent gross margin in the same period of 2024. Leapmotor attributed this increase in gross margin to economies of scale resulting from higher sales, effective cost management, product mix optimization, and gains from other business activities.
Furthermore, the company’s net cash flow from operating activities in the first half of the year reached RMB 2.86 billion, more than 10 times higher than the RMB 270 million reported in the same period of 2024. As of June 30, Leapmotor’s cash and cash equivalents, restricted cash, and time deposits totaled RMB 29.58 billion.
Leapmotor has also expanded its business by supplying battery packs to more than five commercial NEV makers. The company continues to grow its customer base and strengthen its position in the NEV market.
With its strong financial performance and ambitious sales targets, Leapmotor is poised for further growth and success in the rapidly evolving Chinese NEV industry. ($1 = RMB 7.1788)
