https://www.scmp.com/business/china-evs/art...eries-jump-2026China’s FAW buys US$534 million stake in Leapmotor as EV firm sees deliveries jump in 2026
Stellantis-backed Zhejiang Leapmotor Technology has become the first Chinese electric vehicle (EV) manufacturer to receive investment from a state-owned enterprise amid the strong popularity of its affordable intelligent cars.
FAW Group, mainland China’s oldest carmaker, has agreed to acquire a 5 per cent stake in the Hong Kong-listed EV assembler for 3.74 billion yuan (US$534 million) by buying an additional 74.8 million shares at HK$55.29 apiece, according to a stock exchange filing by Leapmotor. The landmark equity outlay by FAW underscores growing investor confidence in Leapmotor, in which Stellantis owns a 19 per cent stake, despite analysts’ bearish sales forecast for mainland China’s car market, the world’s largest.
“Leapmotor aims to achieve annual deliveries of 4 million units a year in 10 years’ time,” founder and CEO Zhu Jiangming said at a media briefing on Monday in its headquarters in Hangzhou.
“Leapmotor will strengthen our value through the fine-tuning of our production, while offering customers best [driving] experiences.”
Reaching that annual delivery volume would enable Leapmotor to slip into the ranks of the world’s top 10 car vendors...
...Leapmotor was expected to deliver 1 million vehicles in 2026, which would translate into a more than 60 per cent year-on-year sales increase, according to Zhu.
Achieving sales of 1 million units next year would likely vault Leapmotor into the No 3 spot among mainland’s largest EV makers, behind BYD and Geely, according to analysts.That confidence beckon one to wonder what they still keep under wrap/their hat