Leapmotor targets global growth with Europe R&D hub, eyes Canada assembly
Chinese EV maker lifts overseas sales target as rising fuel costs and easing tariffs boost demand abroad
The Hangzhou-based carmaker, backed by Fiat owner Stellantis, has also raised its overseas sales target by 50 per cent, betting that higher fuel costs and easing trade barriers will bolster demand for Chinese-made EVs.
“None of Chinese EV makers will ignore opportunities offered by overseas markets,” said Qian Kang, who runs a Zhejiang-based supplier of vehicle circuit boards. “Leapmotor’s goal of gaining a foothold in markets like Europe is a result of the rising popularity of Chinese EVs worldwide.”
Founder and CEO Zhu Jiangming said this week that deliveries outside China could exceed 150,000 units in 2026, up from a previous target of 100,000 set in December. Total sales this year are expected to surpass 1 million vehicles, a 40 per cent increase from 2025.
Last month, Leapmotor opened its first overseas research and development hub in Munich, aimed at tailoring models to international customers.
It is also in talks with Stellantis to use the European carmaker’s idle assembly plant in Brampton, Ontario, near Toronto, according to Bloomberg. The company declined to comment on the potential Canadian venture.