On November 15th at the Guangzhou Auto Show, LEAPMOTOR B10 made its official domestic debut. As the first model of LEAPMOTOR's B series and a truly global product, this car is undoubtedly highly anticipated. During the group interview session following the press conference, Mr. Li Cao, the Senior Vice President of LEAPMOTOR, and Ms. Ying Zhou, the General Manager of Marketing, shared some stories of the product and the subsequent product planning of the B series with the media.
**Ying Zhou:** Welcome everyone to the LEAPMOTOR booth. This is also the domestic debut of the B series B10 model. I believe everyone is aware of LEAPMOTOR's sales progress and overseas expansion this year, along with the most important strategic weapons for the market next year, which Mr. Cao has explained in detail. Moving on to the Q&A session, feel free to communicate any questions you may have.
**Reporter:** LEAPMOTOR has gained significant recognition and traffic over the past year. It's selling very well suddenly and has taken many other initiatives. My question is why LEAPMOTOR can price its products so competitively, and could you both discuss the overseas market planning apart from Europe, and any other key markets?
**Li Cao:** Regarding sales, I do not see it as a sudden increase; it surely was within expectations because **we firmly believe that the actual increase in sales is due to the product's experience, competitiveness, and reputation.** Therefore, we will continue to focus on enhancing product competitiveness. Based on full domain self-development, our full self-developed manufacturing exceeds 60%, so I believe that innovation in technology and control over self-research are the fundamental logics for controlling costs effectively.
As for overseas, we have established 339 stores in Europe. This year, the main models are the C10 and T03, and next year, our B models will be put overseas too. In terms of channels, apart from deepening our presence in Europe, we have made strides towards the Middle East, Africa, Asia-Pacific, and South America this year, marking a comprehensive direction. Collaborating with Stellantis, we apply our strengths with Stellantis Group's service channels, networks, and mature financial systems, which forms the core of our overseas strategy.
**Ying Zhou:** I'll add a bit regarding sales. From the T03 to the C11, to the C10 and C16, LEAPMOTOR's sales ramp-up speed has continually increased, reflecting the product reputation. Take the C11, for example, which started sales in 2021; you can see that our product has maintained a strong reputation after nearly four years, with market competitiveness still strong, reaching over ten thousand sales by October.
**LEAPMOTOR's sales trajectory differs from most trending products in the market. While trending products explode initially, we have steadily accumulated reputation, reflected in our outlook for reaching 30,000 to 40,000 units by the 2024 time frame. I believe LEAPMOTOR's product competitiveness and reputation have played a crucial role in this.** Many of you may notice that products like the C11 now top the residual value rankings in many niche markets. For our mainstream market users, this **rather stable and sustained growth in reputation is a fundamental logic behind the current LEAPMOTOR phenomenon.**
Journalist: How has LEAPMOTOR captured the hearts of younger audiences? Surely it isn’t just about price; there must be more behind it, including marketing strategies. What techniques does LEAPMOTOR employ that other companies might learn from?
Cao Li: This question should be addressed from a product layout perspective. Currently, the overall penetration of new energy exceeds 50%, and users in larger segmented markets are more willing to accept smart electric vehicles. We can observe that the market potential for the 100,000 to 150,000 yuan segment focusing on younger demographics has reached a suitable stage. Therefore, the launch of the B series at this time meets users’ needs, and the costs are well-managed, making it an ideal moment.
Deep insights into the preferences of young people are critical to making them fond of our brand. Understanding young people’s needs is essential. Our C series predominantly targets young family users since we’ve garnered much user goodwill. For younger consumers, we explore their demands, such as sportier appearances, more engaging DIY options, and greater flexibility in software and evolution. In these areas, we engage in deeper communication and conduct demand research with users.
Journalist: I have a question for President Cao. Congratulations on the successful domestic launch of the B10. The product’s capabilities appear comprehensive, particularly in terms of intelligent driving. We noticed that this vehicle uses Qualcomm Snapdragon chips, which differ from NVIDIA’s. Could you please explain the rationale behind the chip selection and share any insights on self-developed intelligent driving systems?
Cao Li: Currently, the B series utilizes Qualcomm’s dual chips, which are their latest flagship models. This allows for the fastest efficiency in the cabin because we work directly with them, optimizing efficiency. The integration of driving and cabin systems reflects a growing trend, explaining our route choice. Concerning intelligent driving, we have committed more resources to developing algorithms this year, and we believe that by 2025, consumers will see an intelligent driving system featuring self-developed end-to-end large models in the B series.
Journalist: Can you elaborate on the size of the intelligent driving team and the resources allocated to this area?
Cao Li: The team comprises around 400 individuals, and we are expanding. Our resource investment targets accelerating developments, aiming for next year’s deployments to achieve first-tier standards.
Zhou Ying: You can feel LEAPMOTOR’s efficiency in research and development; we aren’t just competing in terms of team size. We emphasize the integration and innovation capabilities of our entire team, leading to high R&D efficiency. Although we aren’t spending the most, our company’s development progresses rapidly.
Journalist: As we know, the B10 is the first model developed by LEAPMOTOR and Stellantis, and the first to feature LEAP 3.5. I’m curious about the global considerations behind this model’s design, engineering, and construction, given the differences in policies and regulations between domestic and international markets. And as LEAPMOTOR’s sales volume and influence grow, what are the forthcoming plans and directions in global expansion?**Cao Li: B10 is not our first collaboration with Stellantis (previously, we worked on the overseas versions of C10 and T03), but this model is a much deeper and broader collaboration since the agreement with Stellantis. Significant work has gone into its styling reviews, commonalities, and chassis tuning and validation.
Additionally, the B10, along with the entire B platform models, must meet the diverse needs of different regions, which thoroughly tests the platform architecture design. From the outset, it’s crucial to consider the differences in regional regulations, making the universal design of the architecture and platform quite challenging. Much effort has gone into this, ensuring that while maintaining competitive product performance, costs are optimized. Only minor modifications are needed to meet different regional regulations and user demands, which speaks to the architecture and technology layers.
In terms of design, you can see that not only is it about B10, but all LEAPMOTOR models boast highly accepted designs. We believe that to target the 100,000 to 200,000 market range, catering to the broadest and most accepted segment, one must satisfy public aesthetic demands. Our models, at first glance, might not be overly extravagant, but their quality, acceptance, and timeless appeal are compelling.
Reporter: I have a follow-up, when will B10 be produced in Europe, and if so, what kind of changes will we see in our supplier network, and does the LEAP 3.5 architecture accommodate this? Additionally, what marketing initiatives can we expect next?
Cao Li: The LEAP 3.5 architecture is entirely suitable. As for timing, we are still assessing with the Stellantis group to determine the most suitable location in terms of cost, logistics, and supplier efficiency. Everyone knows that the 20.7% tariff increases pressure significantly. We aim to localize quickly while complying with policies.
Zhou Ying: Thank you for your question, which is also a frequent topic internally. In LEAPMOTOR’s brand and sales development, we have some recognition and reputation within the automotive circle.
However, honestly, beyond the automotive circle, the brand recognition isn’t as robust. In the next phase, LEAPMOTOR focuses on two concepts: “How to break out” and “How to enhance visibility.” “Breaking out” seeks to broaden the audience base through our product range; “enhancing visibility” is about amplifying the attributes of the LEAPMOTOR brand. After 9 years of development, LEAPMOTOR has built a certain user base and gained considerable recognition. Those connected with LEAPMOTOR have found a spiritual resonance. We aim to highlight recognized aspects and resonate with a wider audience. This is our brand’s future characteristic – how to break out and highlight brand uniqueness.
Throughout this process, the constant focus is on our products, as always emphasized by President Zhu. For LEAPMOTOR, the key point is that the product is the brand. As we aim to break out, our younger B series products, along with subsequent A series and D series, will be developed in depth. Also, you might have noticed some subtle changes at our booth today. We’re starting to explore more approaches and methods, such as our collaborations with Van Gogh, and the C16 in collaboration with “Tom and Jerry,” engaging with well-known IPs for young families. These are our exploratory attempts. Previously, LEAPMOTOR’s marketing approach has been relatively low-key, but fundamentally, we continue to engage with people through excellent products. Nonetheless, we are keen to learn more successful industry methods and strategies to bring our products to a broader audience.Journalist: I have two questions. First, the B series in 2025 is a focus; the B10 is already underway. Can you share any information about the other two new car models, including the A and D series?
Cao Li: The other two new car models were actually hinted at today. Besides the B10 SUV, we have a sedan and a crossover model, so please stay tuned for more information on these two cars coming out soon next year.
As for the A and D series, it has been mentioned that we will have four platforms under one architecture, defined primarily by size and class, including A, B, C, and D series. The A series is slightly more compact based on the B series, making it an ideal choice for a second family car or for personal and small family mobility. The D series will serve as our flagship platform, showcasing all the cutting-edge technologies developed independently by Leapmotor. Please stay tuned for more updates.
Journalist: The second question is more exploratory. Recently, in conversations with industry veterans, there’s been a shared concern about product homogenization this and next year, including price range, suppliers, and product concepts. How does Leapmotor plan to address and view this challenge of homogenization?
Cao Li: The trend towards homogenization indicates a shared understanding of the right direction and reflects market demand. However, how to achieve differentiation within this trend is a key issue for every manufacturer to consider.
Take the Leapmotor C series as an example. Before we launched the C10 and C16, there was already the C11. Some might have wondered why introduce the C10 when the size difference isn’t substantial, or the C16 with the same wheelbase in different models. Sales have shown that these three models complement rather than interfere, leading to increased sales. This is also based on observations of varying user needs. For instance, the C11 offers stronger tech and fashion appeal, with a sporty design, frameless doors, and upper and lower arm suspension. The C10 caters more to young families, with odorless materials and a focus on seat comfort for family members. The C16 addresses larger family needs, offering convenience in space, sound systems, and entertainment. Different user needs drive unique differentiation. I believe these varied demands allow us to keep finding breakthroughs amidst homogenization.
Journalist: We notice Leapmotor has achieved an 8.1% gross profit margin. How does Leapmotor plan to further increase this margin? In light of the price war, how does Leapmotor minimize its impact on profit margins?
Cao Li: Profit-wise, data shows Leapmotor is on a positive trajectory. This is due to our cost control, and with full in-house R&D and manufacturing, the cost advantages become more pronounced as our volume increases. With the launch of the B series in 2025, our volume will reach a higher level, further amplifying our cost and profit control advantages. So, we anticipate showing even stronger profit performance in 2025.Journalist: Earlier, you mentioned R&D on the end-to-end level. What are LEAPMOTOR’s reserves and plans, and how do you plan to improve efficiency by 2025 to reach the first echelon? Many models under 200,000 yuan now feature high-end intelligent driving, with end-to-end systems already in use. Is LEAPMOTOR a bit slow in the intelligent driving pace?
Cao Li: Regarding this issue, we have taken a route from the past to the present that is not meant to stand at the level of the first echelon in terms of the intelligent driving pace; we are following a stable and steady strategy. As everyone knows, LEAPMOTOR focuses on the 100,000-200,000 yuan range, where the demand for intelligent driving isn’t necessarily for the highest precision level. However, as the maturity of intelligent driving increases and users’ demand and acceptance for it grow, we believe that the level of intelligent driving at this stage will certainly be a core competitive advantage. So while we invest in this area, in terms of resource allocation, it is well-known that the major focus is on computational power. If you check out the computational resource availability in China, it is still very abundant. Therefore, we manage our funding utilization well, opting to rent computational resources. Concerning efficiency, everyone has seen our B series models priced between 100,000 to 150,000 yuan, equipped with high computation power and laser radar as foundational hardware. So, once our algorithms reach a certain maturity stage next year, it will be reflected in models within this price range, showcasing excellent competitiveness and efficiency.
Journalist: In a previous interview with Mr. Zhu, it was mentioned that the challenge of the EU imposing additional tariffs made competition in Europe difficult. During the press conference, you spoke about co-creating the Starlight Blue with Europe to add elements of culture and art and collaborate on tuning the chassis. How does LEAPMOTOR plan to enhance its competitiveness in Europe in the future?
Cao Li: Tariffs present the same challenge for all Chinese manufacturers; it’s not that the presence of tariffs eliminates LEAPMOTOR’s competitiveness. I don’t think Mr. Zhu meant that. I believe LEAPMOTOR is still very competitive in Europe.
As for maintaining this competitiveness, I think it remains the same. Because Chinese automakers and Chinese market models are at the forefront of intelligent electrification globally and in Europe, we still need to accelerate globally, focusing mainly on Europe. We aim to establish brand recognition and stabilize our sales and service system rapidly, so European users can quickly accept us. Introducing our competitive products swiftly and adjusting them for localization is how LEAPMOTOR maintains strong competitiveness in Europe.
Journalist: Can you elaborate on the specific localization adjustments and strategies?
Cao Li: In terms of localization, I believe this is an advantage LEAPMOTOR has over domestic peers. Our partnership with Stellantis is a key point since Stellantis has over 50 manufacturing plants worldwide. By leveraging its mature localized manufacturing resources, we can determine the best approaches for quickly establishing presence in various countries and regions that comply with local policies. I believe this constitutes a significant advantage for LEAPMOTOR at present.**Reporter: Hello, I have two questions. Firstly, what are our sales scale predictions for next year? Also, why focus on the B series in 2025 and wait until 2026 for the D series? Is it due to current sales growth, or are there other considerations? Secondly, within the C and D series priced between 100,000-200,000, we notice LEAPMOTOR’s self-development and manufacturing capabilities, as well as channel capabilities. Considering that the D series differs in ability from mid-range cars, regarding 2026’s brand elevation, we see LEAPMOTOR and other models facing many challenges in the move towards the high end. What capabilities does LEAPMOTOR need to enhance in the D series, in your opinion?
Cao Li: Regarding the D series, we don’t necessarily aim for high-end luxury models and brands. In the domestic market, only vehicles priced above 300,000 can be considered luxury brands. Currently, LEAPMOTOR’s medium to long-term focus is on offering quality products in the mass market. Hence, even if the D series’ features and configurations might match those priced above 500,000 or even 1,000,000, our pricing adheres to our cost pricing principle, providing excellent experiences to the general public—this is LEAPMOTOR’s core strategy.
In terms of product ability, we have accumulated 500,000 users and expect to quickly surpass 1,000,000 next year. Based on user experiences, product demands, and LEAPMOTOR’s decade-long technological accumulation, I believe we are capable of creating high-end models. Regarding sales, I can’t specify a figure for the B series next year, but as the largest segment, I believe it will certainly perform better than the C series due to its scale and our competitiveness.
Reporter: Why introduce the B series in 2025 and the D series in 2026?
Cao Li: We are focusing on the 100,000-200,000 price range, aiming to secure a foothold with models having the largest market capacity. Due to this significant capacity and intense competition, we rely on our technical strengths to firmly establish ourselves in the largest market before moving upward.
Reporter: So, it’s about choosing the suitable path for LEAPMOTOR and maximizing strengths?
Cao Li: Yes, you could say that. In the world’s largest and most competitive segment, it’s a test of a car company’s competitiveness.
Reporter: I have two questions: First, LEAPMOTOR’s sales performance seems strong, with an impressive momentum in monthly figures released on the 1st. How do you plan to sustain this momentum? Any realistic strategies, considering it’s already November and only a month is left in 2024? Secondly, I heard that in October, Zhou and Cao spent a significant time in Europe. Could you share some insights or thoughts from that experience?**### *Cao Li:*
First, addressing the initial question about how to maintain and sustain this competitiveness, I believe the key focus should be on persisting in our self-research and self-manufacturing, and mastering core technologies. Therefore, we will further increase investments in the depth and scope of our self-research and self-manufacturing. Currently, it makes up 60% of the whole vehicle. Moving forward, we will invest more in some core parts, for instance, in addition to the three electrical systems, we have already made investments in the seats, and bumper interiors and exteriors, which are soon to be mass-produced. This includes future core systems and components of the chassis, including thermal management, which is crucial for both new energy vehicles and intelligent development. We will increase investment in this area as well, to expand our self-research and self-manufacturing scope, and to further reduce vehicle costs, thoroughly exploring our cost capabilities.
In terms of advanced core technologies, we will continue to invest. This includes not only intelligent driving but also the cabin, powertrain, thermal management, and chassis. We aim to adopt some of the industry’s most advanced technologies and anticipated directions as much as possible, prioritizing early planning. Thus, managing core capabilities, controlling costs, and accurately defining and positioning products are crucial to sustaining growth and maintaining competitive strength. Additionally, we are preparing further on production capacity and delivery. Currently, with our two factories, we have a production capacity of over 40,000 units per month. By the end of this year, our Hangzhou factory will gradually ramp up, and mass production will start at the beginning of next year. Therefore, production capacity will align with product market plans, providing assurance.
Zhou Ying:
I’d like to talk about our activities in Europe. Indeed, last month, CEO Zhu and Mr. Cao led us through many places across Europe.
In my view, we had a few missions to accomplish: First, from a communication standpoint, we successfully debuted the very important B-series model B10 in Paris. Simultaneously, we launched a communication sub-task, which was the journey of the SUV fleet across Europe. What people saw was that LEAPMOTOR has formed a strong SUV “triumvirate” with C11, C10, and C16. This time, we brought these three competitive products to Europe, visiting major markets such as Germany, the Netherlands, Italy, and France. Through the journey of the fleet in Europe, on one hand, people could see LEAPMOTOR’s products, and on the other hand, they could understand firsthand user feedback on our products. We observed that the overall market recognition for our high-quality and intelligent products is very strong. Additionally, as for the communication side, the launch of CEO Zhu’s public image occurred through this European tour, with frequent updates on various aspects of the journey.
Practically speaking:
The first was holding many exchanges with the design and development teams from Stellantis, including Peugeot, Fiat, Alfa Romeo, and Maserati. As a result, the “Stellantis Night Blue” color of the B10 is a collaborative creation by the styling teams of both sides, which is a very important outcome of this European tour. The collaboration with Stellantis extends beyond design; we also gained an in-depth understanding of their many technical resources in Europe, brand assets, as well as their excellent manufacturing capabilities, providing us with valuable information. Moving forward relying on their local assets, LEAPMOTOR in the European and global markets is positioned to have a significant competitive advantage over other Chinese brands.We also visited numerous companies along the supply chain, laying a solid foundation for the global industrialization layout of LEAP, which we just mentioned. We have essentially covered it all.
Most importantly, we visited many of our newly opened stores in Europe. As you are aware, since the sales of the C10 and T03 began in Europe this September, progress has been rapid with over 339 stores in Europe so far. We visited stores in France, Germany, Italy, and Spain, and indeed, through our collaboration with the Stellantis Group, the pace of our sales and after-sales network establishment is very fast. Overall, this European tour not only highlighted the influence of Chinese brands on the international market but also identified excellent resources for LEAP’s international expansion. This concludes the discussion on the European tour.
Journalist: Hello to both of you! I have two questions: Firstly, the B Series is based on the LEAP 3.5 architecture. How has it been optimized compared to the B Series LEAP 3.0? Secondly, LEAP is often referred to as “the smaller EV brand similar to LI.” What are your thoughts on this label, and do you wish to embrace it?
Cao Li: The LEAP 3.5 technology architecture is an iteration on the 3.0, including advances in computing power. It mainly has two aspects: intelligent computing and integration level. For instance, the 3.5 architecture utilizes the next-gen Qualcomm 8650 chip with higher computing power and deeper cabin-drive integration, with enhanced controller integration. Additionally, in thermal management, there’s the self-developed 27-in-1 super thermal management system, including the iteration of the CTC 2.0 battery. Therefore, on this basis, it offers better integration than 3.0 and new iterations in integrated computing power.
Regarding being labeled as “the smaller EV brand similar to LI,” I honestly don’t mind, but I believe LEAP is still LEAP. LI is a model we learn from, as well as other successful automotive companies. I think LEAP can be inspired by and align with the best practices; why not? We need to identify their strengths and focus on catching up. I believe everyone will see that LEAP has its unique personality and charm, so I hope people won’t label us; LEAP is LEAP. Thank you!
Journalist: I’d like to ask about the distribution channels. Since we can see that LEAP’s recent sales figures relate significantly to distribution enhancements, can you detail the current status and next year’s plans for the channels?
Zhou Ying: Indeed, what everyone sees is an ongoing improvement and optimization of the entire distribution channel in LEAP’s model, where we uphold the “1+N” strategy.
We aim to:
Firstly, prevent malicious competition among high-quality investors in key markets while ensuring that excellent partners provide better services to consumers.
Additionally, through intensive upgrades from last year to this year, we have reached about 600 stores. By next year, the overall construction progress is expected to reach 700-800 stores, primarily covering major sales cities for the B Series and C Series products. This concludes the discussion on the distribution channels.### On Services
Mr. Zhu also mentioned in our discussion that moving forward, we hope to gradually develop LEAPMOTOR’s service capabilities into an important hallmark of the brand. Hence, this area is a key focus for enhancement.
Reporter: Greetings to you both! My first question is for Mr. Cao. Regarding intelligent driving, does LEAPMOTOR have any plans for non-lidar solutions? Many quality-focused car manufacturers are pursuing such solutions within the industry. Does LEAPMOTOR have a strategy in this area? Additionally, for Mr. Zhou, with traditional car manufacturers like Geely and DEEPAL strongly branded with intelligence and new energy, and the ‘NIO, XPeng, and LI’ new forces noticeably sinking, LEAPMOTOR faces higher competitive pressure. Do we have targeted strategies in the market or marketing, or what unique qualities and differentiation do we wish to emphasize?
Cao Li: Concerning the intelligent driving solution, the models we see from LEAPMOTOR indeed incorporate lidar. However, as mentioned earlier, the end-to-end intelligent driving model on board shares the same recognition with the team, and it’s primarily a visual-based solution. Hence, we won’t create a separate differentiated approach specifically for non-lidar. Essentially, the solution remains similar, with visuals being the primary focus and lidar as a supplement. As the development reaches a certain stage, it’s likely that the necessity for lidar might diminish, but this depends on how the algorithms and maturity levels evolve.
Zhou Ying: In terms of evaluating competition intensification as you mentioned, broadly speaking, there are many areas where LEAPMOTOR could learn from our peers. However, for us, the most critical competitive advantage lies in our products. For the Marketing team, our mission remains aligned: clearly explaining our brand, products, technology, and benefits to our users is paramount.
We believe our technology and products are competitive and, as long as they are clearly articulated and understood by users, will remain so. However, how to convey it comprehensively involves understanding more about user needs and determining the best way to communicate for mutual comprehension. Even internally, we constantly review, for example, our four-leaf-clover central integrated electronic and electrical architecture – understanding its strength, but more importantly, its real benefits to users. Similarly, discussing our LEAP 3.5 technology platform, its highly integrated nature, and the advantages it brings to the B-series products, particularly in areas like charging/discharging efficiency.
Hence, the upcoming challenge is effectively conveying our technological capabilities and product enhancements in user experience – telling this story well and communicating effectively with users. While historically we haven’t excelled at packaging, clarifying and explaining matters clearly is our communication focus.
Reporter: Hello everyone, I am from the Automobile Agency. LEAPMOTOR’s sales have been strong over the past two months, primarily attributed to the three C-series. While following LEAPMOTOR for years, I’ve noted that the C01 model isn’t lacking in product strength, with features like range extension. Recently observing the XiaoMi SU7 and XPeng P7+, Chinese new energy automakers are making breakthroughs in these sedan styles. Will there be marketing tactics or major upgrades for this model considering its recent monthly sales are around 2000 units, which is quite regrettable?Cao Li: The sales of over 2,000 units of the C01 certainly fell short of our expectations, but it is still considered a decent achievement among cars in the same segment. We specifically reviewed data from the same segment and found that the C01 ranks at least in the top five. Admittedly, there are challenges in this price range and for this size of sedan, but how to make sports sedans both popular and profitable is something to consider. I believe relying solely on marketing is not enough; we must let users experience the value of our product. Additionally, we are discussing what aspects of the C01 to retain and what to change in major redesigns and updates.
Zhou Ying: Please feel free to provide us with any good suggestions you might have.
Reporter: The other day, Mr. Zhu mentioned that it’s too late to enter the extended-range market now. I’m curious about LEAPMOTOR’s perspective on this. Do you have your understanding of the extended-range and plug-in hybrid market?
Cao Li: Regarding the current market for extended-range vehicles, it’s not too late if you’re already selling these models. However, if you’re just now starting to develop extended-range technology and products, having never done it before, I share Mr. Zhu’s view that it could be a bit late.
From our assessment, extended-range and hybrid vehicles are transitional products. While they will not disappear immediately and will exist for a long time, their share will decrease. They serve as a complement during the transition to new energy vehicles, appealing to users who previously had a strong demand for gasoline vehicles and who need significant range and long-distance travel.
From our projections and user insights, this aligns with our expectations. Previously, the extended-range and pure electric split for our C series was about fifty-fifty or sixty-forty. As more people accept pure electric models, the proportion for extended-range vehicles in models like the C11 and C10 has gradually declined to below 20% and 30%, respectively. Additionally, the demand varies with car size; larger vehicles may have a slightly higher need for extended-range and hybrid options, as seen with the C16. Looking further into the future, as pure electric range increases and charging infrastructure improves, demand for range will become more rational, and I believe the share of extended-range solutions will further decline, though they won’t disappear overnight. Therefore, in terms of powertrain strategy, we will continue to maintain a dual strategy of extended-range and pure electric.
Reporter: Hello to both bosses. LEAPMOTOR has grown rapidly from the C01 to the T03. Why introduce the B series at this stage? Would it compete with the C series? Secondly, we’ve spoken to many LEAPMOTOR users who initially worried that good quality and low price couldn’t coexist. However, after experiencing the vehicles, their expectations were surpassed, and they showed high tolerance towards LEAPMOTOR. Earlier, both bosses mentioned that the core competitiveness lies in products and technology. I’ve also spoken with your colleagues in product research who attributed the strong product definition to the leadership’s efforts. Could you share any experiences in product definition and positioning?**Cao Li: Regarding product definition and positioning, I believe it’s not entirely the decision of top management as some colleagues suggest. Although this concept is important because, in a car company, leadership decisions indeed greatly influence the product’s direction and definition.
However, I think, for us, Mr. Zhu is a very open-minded person, in simple terms, he’s very receptive to advice. Internally, we have established a Product Technology Strategy Committee, of which Mr. Zhu is a member. This committee includes representatives from marketing to market demand, product definition, and R&D. We conduct thorough market data analysis, user needs research, and technical trend assessment, making judgments based on our brand positioning. So, if talking about experience, it’s about listening to the genuine voices of users, focusing on being receptive.
I believe the C series and B series will not clash. We can differentiate models within the same price range for the C series, and there will be certain differences in the specifications and pricing between the B and C series, thus avoiding clashes. Additionally, for the B series, we emphasize more on intelligence, youthfulness, and fashion elements.
Zhou Ying: Dear teachers, our exchange comes to an end here. Today, we feel deeply moved, remembering how in 2019, we had no booth at the Guangzhou Auto Show; it was a small stand set up by the dealers in a passage below. Now, we have developed a robust C series and will soon bring a very competitive B series to the market. We sincerely thank the teachers for continuously supporting LeapMotor and paying attention to LeapMotor. We look forward to witnessing greater success together with all of you. Thank you!
This article is a translation by AI of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.