Stellantis-backed Chinese EV maker Leapmotor confirmed on Friday that it is planning to launch a second brand, with the first products expected to debut as early as “the end of this year.”
The revelation came during the company’s first-quarter earnings call, where Chief Financial Officer (CFO) Li Tengfei said products from the new brand are expected to be premiered between late 2026 and early 2027.
“Our second brand right now is still confidential,” the executive stated, adding, “that is why I can only tell you that we do have the plan to have a second brand.”
Li said the first product from the new brand is expected to be premiered by “the end of this year or no later than the middle of next year,” with the product launch to follow “no later than mid-2027 or the second half of next year.”
“The positioning of the second brand will be different from the first brand,” the CFO added. “We hope that this new brand, new products can help the company continue to grow in the future.”
LatePost Report
The confirmation follows an exclusive report from Chinese media outlet LatePost in late April, which said Leapmotor was planning to launch a second brand in 2027 targeting the premium market above 300,000 yuan (around $40,000).
Leapmotor at the time declined to comment.
According to the report, the new brand would operate its own independent sales network, separate from Leapmotor‘s existing channels.
Industry sources described the intended role as comparable to that of Lexus within Toyota or Denza within BYD — a standalone premium marque sitting above a volume-focused parent brand.
Leapmotor‘s current lineup — spanning the A, B, C, and D vehicle series plus the Lafa 5 — covers a price range from 65,800 yuan to 269,800 yuan ($9,700–$39,700).
The company offers sedans, SUVs, and MPVs in both battery-electric and extended-range configurations.
Senior Vice President and Chief Operations Officer Xu Jun has described the brand’s market logic as using the A series to reach downward and build the foundation, the D series to push upward toward the top end, and the B and C series to anchor the middle.
The weighted average selling price across all Leapmotor models in 2025 was approximately 125,000 yuan ($18,400), according to LatePost.
Net profit per vehicle was roughly 905 yuan.
The thin margin underscores the strategic rationale for a premium push.
CEO Zhu has built the brand around a cost-based pricing philosophy — offering high-end configurations, including LiDAR and advanced driver-assistance systems, at prices typically seen in lower segments.
The A10, launched in March, brought LiDAR to the sub-100,000-yuan price bracket for the first time.
At the time of LatePost‘s report, it was unclear what powertrain strategy the second brand will adopt. Friday’s statements did not clarify it.
Q1 Results
The second-brand confirmation came alongside Leapmotor‘s first-quarter earnings report.
The company posted revenue of 10.8 billion yuan ($1.6 billion), up 8.0% year on year and its best first quarter on record.
However, the quarter also brought pressure — as Leapmotor‘s net loss widened to 390 million yuan, compared with a narrower loss in the year-ago period.
Gross margin fell to 9.4%, down significantly from the 14.5% the company achieved for full-year 2025 — as a shift in product mix toward lower-priced models continued to weigh on margins.
2025 Figures
Leapmotor had posted full-year 2025 revenue of 64.7 billion yuan and net income of 540 million yuan — becoming the second Chinese EV startup, after Li Auto, to achieve annual profitability.
The company delivered nearly 600,000 vehicles that year, up 103% year on year.
Leapmotor has set a 2026 target of one million vehicle deliveries and 5 billion yuan ($736.9 million) in net profit.
In the first quarter, the company reported global deliveries exceeding 110,000 units, with overseas exports surpassing 40,000 — a quarterly record.
Orders for the newly launched A10 compact SUV and the flagship D19 large SUV have exceeded internal expectations, the company has said.
The D19, launched in April with prices ranging from 219,800 yuan to 269,800 yuan, surpassed 15,000 firm orders within its first 15 days. Daily production of the A10 has exceeded 1,000 units.
Stellantis Partnership
The premium brand push comes as Leapmotor‘s international ambitions accelerate through its partnership with Stellantis.
Earlier this month, the two companies announced a major expansion of their cooperation.
The deal includes the co-development of fully electric Opel C-segment SUV to be produced at Stellantis‘ Figueruelas plant in Zaragoza, Spain, with a potential start of production in 2028.
Leapmotor‘s B10 compact SUV would also be manufactured at the same plant, potentially beginning as early as this year.
The expanded agreement also covers the allocation of a future Leapmotor model to Stellantis‘ Villaverde plant in Madrid starting in the first half of 2028.
Ownership of the site is under discussion for potential transfer to Leapmotor International’s Spanish subsidiary.
Leapmotor International (LPMI), the 51/49 Stellantis-led joint venture with exclusive rights for the sale and manufacturing of Leapmotor products outside Greater China, has expanded to more than 850 European points of sale and service.
LatePost noted that the Stellantis partnership could support Leapmotor‘s premium ambitions, given the automaker’s experience operating luxury brands such as Maserati.
The relationship may help the Chinese automaker navigate the channel, service, and brand-building challenges that come with entering the high-end segment.
Separately, FAW Group acquired a 5% stake in Leapmotor in December 2025.
The two companies are jointly developing a model for FAW‘s luxury brand Hongqi, targeted at overseas markets, with mass production planned for the second half of this year at Leapmotor‘s Hangzhou plant.
