Leapmotor's First Quarter Update and International Expansion

TapTechNews May 17th news, Leapmotor announced in the Hong Kong Stock Exchange on May 17th. The revenue in the first quarter was 3.4862 billion yuan ($500 million), an increase of 141.7% year-on-year; the loss attributable to equity holders of the company was 1.0129 billion yuan ($144 million), compared to 1.133 billion yuan in the same period of the previous year. The total vehicle delivery was 33,410 units, an increase of 217.9% year-on-year.

On May 14th, Leapmotor and Stellantis Group announced that the two companies have passed all the necessary approvals regarding the establishment of Leapmotor International B.V. (Leapmotor International), and the Leapmotor International led by Stellantis Group has been officially formed. It is understood that Leapmotor International will make use of Leapmotor's platform technology models and the global sales network, service network and production capacity resources of Stellantis for a strong alliance, and it is planned to enter the nine European countries' markets such as Belgium, France, Italy, and Germany first in September this year.