Leapmotor (9863.HK), which continues to lead the domestic new car companies in overseas sales this year, announced that its internationalization strategy has entered a new stage.
On June 12, with the theme of "Powering Victoria Harbour, Global Manufacturing", Leapmotor made its debut at the 2025 International Automotive & Supply Chain Expo (Hong Kong) (hereinafter referred to as "Hong Kong Auto Expo"), and announced that the C10 and T03 models will be available for pre-sale in Hong Kong. The day before, Leapmotor's first store in Hong Kong officially opened in Taikoo City Center, which is also its 1,500th Leapmotor center worldwide.
Zhu Jiangming, chairman of Leapmotor, said at the opening ceremony: "The Hong Kong market is not large, with annual sales of 40,000 to 50,000 vehicles, but it is an 'international window' to better showcase the Leapmotor brand and products." In his view, the Hong Kong market's high-standard certification mechanism and mature consumer ecology also provide a touchstone and strong endorsement for Leapmotor's technology and product quality.
As of June 2025, Leapmotor has covered more than 24 markets in Europe, the Middle East, Africa and Asia Pacific, and established more than 600 overseas sales outlets, breaking the record of the speed of new forces going overseas. The opening of the Leapmotor Center in Hong Kong further improves its global sales network and becomes an important hub connecting the European and Southeast Asian markets.
It is reported that the first two products to be pre-sold are designed to accurately match the rigid demand for space and efficiency in the Hong Kong market. As the first global model under the Leap LEAP 3.0 technical architecture, the Leap C10, with its 2825mm ultra-long wheelbase and 66.8% room ratio, creates "a more ideal home for young people around the world". It is equipped with a four-leaf clover central integrated electronic and electrical architecture to achieve efficient coordination of the four domains of intelligent driving, cockpit, power, and body, and has won three five-star safety certifications in China, Europe, and Australia. The "global classic car" Leap T03 has a WLTP range of 265 kilometers, a 50:50 golden axle load ratio, and a 67% high-strength steel body, which is precisely adapted to the urban commuting scene in Hong Kong.
Data shows that from January to April this year, the penetration rate of new energy vehicles in Hong Kong has reached 68%. It is reported that high-net-worth customers in the Hong Kong market have formed the characteristics of "price-sensitive consumption" under the pressure of high first registration taxes, and Leapmotor's products are precisely breaking the game with "good quality but not expensive". The right-hand drive version of the car developed by Leapmotor for the Hong Kong market can also enjoy the first registration tax exemption policy launched by the Hong Kong Special Administrative Region Government for pure electric models to promote the development of new energy, which greatly reduces the user's purchase cost.
In the face of industry price wars, Leapmotor has always adhered to the "high-end and low-price" strategy. Zhu Jiangming reiterated: "We do not participate in internal competition, but reduce costs through technology, so that users can get higher value at the same price." Among domestic new car companies, Leapmotor's core competitiveness stems from its full-domain self-research strategy-65% of the cost of the whole vehicle is self-researched and self-manufactured, covering core components such as electric drive, battery pack, and intelligent driving. In the first quarter of 2025, Leapmotor's revenue reached 10.02 billion yuan, a year-on-year increase of 187%, and its gross profit margin hit a new high of 14.9%. From January to May, Leapmotor won the championship of China's new forces going overseas with an export volume of 17,200 units, and the global delivery volume of C10 exceeded 100,000 units within 13 months of its launch.
"Hong Kong is a key piece in Leapmotor's globalization puzzle, but it is far from the end," Zhu Jiangming said in an exclusive interview. It is reported that Leapmotor plans to achieve a sales target of 500,000 to 600,000 units in 2025, and is expected to break even for the whole year. In the future, the D series models and its cooperation projects with FAW will be launched one after another to further expand the high-end market.
