Leapmotor is going to compete with Li Auto

Less than 200,000 RMB to buy a six-seater SUV, Leapmotor brought surprises to consumers at the Beijing Auto Show.

The new model named Leapmotor C16 offers an affordable price and innovative MPSUV (multi-Purpose sport utility Vehicle) concept. The fully equipped price is expected to be no more than 200,000 RMB, serving as a replacement for the Li Auto L8.

In addition, Leapmotor also announced at the press conference that customers can get a 5,000 RMB discount by paying 1,000 RMB through official channels when purchasing a car. It is reported that pre-orders for the Leapmotor C16 exceeded 11,950 units within 24 hours, and the new car will be launched in June and deliveries will begin.

Zhu Jiangming, the founder and chairman of Leapmotor, emphasized that Leapmotor is committed to the price range below 200,000 RMB, meeting users' demand for a multi-functional, multi-scenario six-seater SUV, and creating "good and affordable" products.

Zhu Jiangming also stated that while traffic is important, the product ultimately speaks for itself.

The Leapmotor C16 combines the spatial advantages of an MPV and the stylish appearance of an SUV, with a 2+2+2 seating layout and a spacious interior space of 5290 liters, achieving a high interior space utilization rate of 67.2%, comparable to mainstream MPVs.

The intelligent configuration is another highlight of the Leapmotor C16. It is equipped with a smart cockpit with a Qualcomm Snapdragon SA8295P chip, an advanced intelligent driving system with a laser radar + Orin-X chip, and a standard 800V silicon carbide high-voltage platform for pure electric models, which are rare in the same price range.

In terms of power, the electric version of the Leapmotor C16 uses silicon carbide (SiC) power components in the electronic control unit, which improves the efficiency, performance, reliability, volume, and lightweight of the electric drive system. In addition, the pure electric model comes standard with a global 800V high-voltage silicon carbide platform, which can charge from 30% to 80% in just 15 minutes.

The extended-range model Leapmotor C16 is equipped with a 28.4kWh battery pack. According to the introduction, the pure electric range of CLTC is 200km, and the comprehensive range of CLTC reaches 1000km. The range extender uses a 1.5L four-cylinder engine with a thermal efficiency of 40%, and the WLTC fuel consumption is only 6.19L per 100 kilometers.

Wall Street News learned that 2024 is the year when Leapmotor's overseas expansion strategy will accelerate. Leapmotor plans to start overseas sales within the year and develop 200 overseas channels.

In addition, Leapmotor also showcased new products such as C10, C11, C01, T03, etc. Cao Li, the senior vice president of Leapmotor, stated that Leapmotor had planned its product lineup two to three years ago, focusing on products that cater to the largest number of family-oriented car needs.

From the auto show, one can also glimpse the overall product planning of Leapmotor. In the fiercely competitive mainstream family car market, Leapmotor aims to capture as much market share as possible.

In the first quarter of this year, Leapmotor delivered over 33,000 vehicles, with over 14,500 units delivered in March alone, a year-on-year increase of 136% Zhu Jiangming's goal for Leapmotor this year is to rank one spot higher on the "New Forces" sales chart.

This ultimately relies on product and sales support.

In addition to the domestic market, Leapmotor is also a major attraction overseas. With the empowerment of Stellantis, Leapmotor is accelerating its overseas layout. Zhu Jiangming stated that 2024 is the starting year for Leapmotor's international expansion, and 2025 will be a year of harvest for Leapmotor in overseas markets.

Next, Leapmotor must take each step well to make it more competitive in today's intensifying market competition