Leapmotor Executives Have Planned Robotics Business! Next Year is a Major Product Year, Major Intelligent Driving Announcement in September

Author | Zhang Rui

Editor | Zhi Hao

Leapmotor Executives: A Major Technology Release Will Happen in September, Overseas Sales Target for Next Year is 350,000 to 400,000 Units.

Carwest reported on August 24, that just now, Zhejiang Leapmotor Technology Co., Ltd. (hereinafter referred to as Leapmotor) held the 2026 Mid-Year Performance Conference Call.

Leapmotor CFO Li Tengfei, Leapmotor Co-President Wu Qiang, Leapmotor Board Secretary Shen Ke attended the Leapmotor 2026 First Half Performance Conference Call. On the conference call, Li Tengfei mainly answered around 16 related questions, among which there were 4 key questions:

1、New Product Planning: Leapmotor's new model launch quantity in 2027 will be greater than 2026, it is a very major product year.

2、Assisted Driving Progress: The assisted driving products released at the September technology launch event have a huge, leapfrogging improvement compared to Leapmotor's current assisted driving.

3、Overseas Sales: Estimated this year overseas sales can reach 200,000 units, next year overseas sales target is around 350,000 to 400,000 units.

4、Robotics Business: Leapmotor has its own plan, and will officially announce Leapmotor's specific information regarding robots in the near future.

According to the financial report, Leapmotor's first-half 2026 revenue was 38.11 billion yuan, up 57.2% year-over-year compared to 24.25 billion yuan in the first half of 2025, creating a historic high for the same period.

▲Leapmotor 2026 First Half Main Financial Data

In terms of net profit, in the first half of 2026, Leapmotor's net profit was 210 million yuan, while in the first half of 2025 it was 30 million yuan, representing a year-over-year growth of approximately 600%.

In terms of sales volume, in the first half of 2026, Leapmotor's total sales volume was 356,500 units, year-over-year growth of 60.8% compared to the same period in 2025, among which export volume was 96,300 units, year-over-year growth of 372.6%, accounting for 27.0% of Leapmotor's total sales volume in the first half of 2026.

Overall, Leapmotor showed significant year-over-year growth in revenue, net profit, and sales volume in the first half of 2026, delivering a brilliant semi-annual financial report.

Article Benefit: Leapmotor releases 2026 first-half financial report, revenue year-over-year growth 57.2%. The financial report document has been prepared for you by Carwest, Reply [Carwest 0994] to download.

01.

Major Technology Release at September Event

New Model Quantity Next Year Greater Than This Year

At the financial report meeting, Leapmotor CFO Li Tengfei answered around 16 related questions. The following is the transcript of the Q&A session of the financial report meeting. Carwest made some readability adjustments without changing the original meaning, and also integrated content of the same type:

1、Can you break down the revenue contribution of Leapmotor's non-vehicle businesses such as carbon credits and R&D services in the second quarter?

Li Tengfei: The overall carbon credit revenue of Leapmotor in the first half of the year was between 800 million to 900 million, around 500 million in the second quarter. Although Leapmotor International achieved a very brilliant sales performance in Europe, the unit selling price of carbon credits decreased compared to last year. Therefore, the overall revenue of carbon credits differs from the sales volume increase proportion compared to last year.

Regarding the contribution of R&D services, in the first half of the year, Leapmotor and FAW, Stellantis and other relevant partners explored R&D services deeper. Everyone will soon receive the good news of our external announcement regarding the reached cooperation.

2、Looking ahead to the second half of the year, will there be some changes in cost-side pressure? Has Leapmotor's latest profit guidance been updated?

Li Tengfei: From the perspective of the full year, we set an annual net profit target of around 5 billion yuan at the beginning of the year. But looking from now, it is indeed very difficult to achieve a net profit target of around 5 billion yuan.

Mainly due to the price increase of raw materials this year, bringing about a decline in gross margin.

From the company's current analysis, we expect the annual net profit level to be around 3 billion yuan, the gross margin level is expected to be around 13 to 14 percent, and the whole vehicle gross margin level should be around 10 to 11 percent.

3、How does Leapmotor realize revenue in cooperation with Stellantis? Will there be model expansion subsequently? Can Leapmotor International use Stellantis's supply chain?

Li Tengfei: We expect further good news to come recently. We reached further cooperation implementation with partners, which is actually more based on Leapmotor's current supply capability of mature three-electric components, empowering our partners in parts supply.

Regarding the revenue brought by cooperation to Leapmotor, I still hope to wait until our cooperation implementation, then elaborate on the specific revenue with everyone.

Regarding localized procurement, including whether to use Stellantis's supply chain, Stellantis Group's supply chain capability locally is certainly a very important resource for us. When we choose the supply chain, Stellantis Group will also give us Leapmotor and Leapmotor International very strong support.

Of course, we will not completely borrow or rely on Stellantis's existing local supply chain. We will also consider comprehensively. Based on the original intention of creating products with better quality and lower cost, we will select the supply chain with Leapmotor International and Stellantis.

Of course, with a flexible international localized supply chain as the foundation, our overall work will be more efficient, and cost control will also be more effective.

4、Can next year's overseas target be updated? How is it divided between regions?

Li Tengfei: This year we gave an overseas sales target of 100,000 to 150,000 units. Looking now, our originally set challenge target for this year, which is 150,000 units, is basically no problem. We expect this year's overseas sales can reach 200,000 units.

So for our next year's overseas sales target, from the company including Leapmotor International, also including Stellantis Group, we are very confident about next year's overseas sales. Our next year's overall overseas sales target is around 350,000 to 400,000 units level. We hope to challenge the sales level of 400,000 units.

Regarding sales distribution, from next year's situation, our overall sales distribution will not have too much difference from this year. The most important market is still Europe. Of course, next year we will further open up the South America market, including Southeast Asia market, Asia-Pacific region market, and Australia market, will also continue to exert effort.

5、What is Leapmotor's overseas capacity situation next year?

Li Tengfei: Actually, we now in Europe, South America, mainly utilize our partners' factories for localized production. We have full discussions with Stellantis Group, and our partners are very capable.

Whether in Europe, South America, or other regions, in the factories Stellantis Group cooperates with us, our partners fully guarantee Leapmotor's capacity, prioritizing Leapmotor's capacity.

Everyone knows, Stellantis Group in Europe, South America and other regions, capacity is still relatively sufficient. So in terms of capacity, this is actually Leapmotor's advantage. Because we have such powerful partners, so we do not need to worry about capacity matters. We both have full communication, also have very good planning for capacity, can fully meet Leapmotor's localization needs in Europe, South America, including other regions.

6、What is the actual profit level per vehicle overseas currently?

Li Tengfei: From the perspective of Leapmotor company, Leapmotor's actual gross margin is the gross margin of this period before selling models to Leapmotor International. We have an agreement between both parties, so our gross margin level is indeed relatively low. Now looking at it, the three-year agreement period is actually gradually coming.

Of course for both of us, we will sit down for full communication. From the actual situation, in these three years, our cooperation has made huge progress. Everyone can see it from sales volume. Also Leapmotor International realized profit last year, this year Leapmotor International's operation situation is also very good. We achieved rapid sales progress under such a model. So next, everyone will also further discuss Leapmotor International's operation.

From our perspective, now we still prioritize overseas market sales volume, because overseas market is currently a rapid growth period. We need to grab the critical period of overseas market development as quickly as possible.

From the perspective of profit, we of course also value profit, but we will put sales volume growth in the most important position.

7、Under the circumstance of small amount of R&D investment, what is the secret of Leapmotor's excellent assisted driving performance?

Li Tengfei: Leapmotor's overall intelligent driving performance this year has gained recognition from the vast number of consumers.

In September this year, we will launch intelligent driving products under the new architecture. I will give a spoiler in advance. Our intelligent driving products under the new architecture have a huge, leapfrogging improvement compared to current products.

As for why investment is small but output is high, actually Leapmotor has always had continuous investment in intelligent driving, not just started investing recently. It is just that the previous stage focused more on laying the foundation. Under the circumstance that the technical route is not clear, we did not rush to invest.

Until we saw technical routes such as physical models, and considered them as the development direction of future intelligent driving, in the second half of last year we overall increased investment in intelligent driving, both in terms of talent and investment.

Plus the models we launched last year, many models carried our own products, generated a large amount of data. So several reasons made our intelligent driving this year have a bigger improvement, which is also the core logic we can launch further products in September.

We have relatively precise grasp of the overall direction, took fewer detours. So our investment was relatively low. But once we determined it, we increased investment strength. Because we have a good foundation, in not too long a time, we achieved significant progress.

8、Is the upper limit of Leapmotor's intelligent driving technical route pure unmanned driving?

Li Tengfei: Actually, whether L2+, L3, or L4, Leapmotor has layout, including intelligent driving software and hardware.

This hardware includes intelligent driving itself's hardware, also includes intelligent chassis hardware. We have a full series layout.

9、In Leapmotor's overseas sales volume, what will be the localization rate? Is there a change in the expectation of Spain factory starting production in October?

Li Tengfei: Regarding Spain factory production start, Leapmotor plans in October for Mr. Zhu (Leapmotor Technology Founder, Chairman and CEO Zhu Jiangming) to lead the company management to Spain factory. Participate in B10 model's localized production start ceremony together with Stellantis executives. Overall timeline progress is very smooth.

Regarding next year's localized production volume, actually next year the main selling local model we have is only B10 one model. So next year in the whole 350,000 to 400,000 units sales volume, the B10 production volume from localized production is not that big.

Because this is also our first year overseas localized production. Involves our and partner's fit. We expect next year's localized production volume is around 50,000 units level.

If policy changes are more favorable, then our overall localized production volume can actually increase. Production is not a problem. Actually we are more with partners to create value for the whole Leapmotor sales volume.

Indeed localization can bring tariff optimization. But we also see localization in parts procurement, indeed compared to domestic parts procurement there will be relatively obvious price increase. Actually after offsetting both, localized gross margin level has improvement, but not as obvious as everyone imagined.

Of course, we are also predicting EU tariff policy changes. We think localization will have more favorable policies, or policies will lean more towards localization.

We think localization's improvement on net profit, actually is not at present, but in the near future. With further policy changes, enhance the important value of localization.

We think whether in Europe, in South America, or in other places in the world, localization is always pursued by Leapmotor. We think localization is always a major strategic direction for us going overseas.

10、Regarding Leapmotor September technology launch event, is there any other information leaked?

Li Tengfei: Regarding September technology launch event, basically set in September 16.

At the technology launch event, besides intelligent driving, actually there will be many major technology information releases. Also there will be many industry senior experts and major guests to participate.

I can tell everyone, whether in intelligent driving aspect, or in battery, electric drive aspects, there will be major technology releases.

11、What are the prospects regarding robotics business?

Li Tengfei: Previously in our newly set company, we added a business scope. This is also a normal addition action.

But I can say this to everyone, we think new energy vehicle enterprises, especially new energy vehicle enterprises with full-domain self-research capability, are one of the enterprises most qualified to do embodied robots.

Leapmotor has its own plan. Moreover, in the near future, everyone will receive our official announcement of Leapmotor's specific information release regarding robots.

12、What is the reason for gross margin expected increase in second half of year compared to previous quarter?

Li Tengfei: First is Leapmotor overall sales volume rise very fast. Product scale effect brought optimization.

Second point is material cost price increase aspect. Everyone can see bulk raw materials price increase. Actually after a wave of price increase in first half of year, now already stabilized. We judge second half bulk raw materials price increase will maintain in relatively stable state.

With our scale improvement bringing cost scale effect release. At the same time under further optimization of material cost and manufacturing expense, come to push our gross margin.

Of course our current gross margin, actually also basically returned to our same period last year level. This cannot be said as a particularly excellent performance. But we also think under such background, able to do this point, still went through whole company above and below unremitting efforts.

13、2027 new car planning currently what can be revealed?

Li Tengfei: Leapmotor this year's new cars already basically launched. Might later have individual model small change launch.

2027 Leapmotor new model launch quantity greater than 2026. D series will have new product launch. C series both has new product launch, also has existing C series new generation product launch. New generation product is our next generation product. C series and B series both will have.

So next year is still Leapmotor's product major year. Moreover it is a very major product year. Our company internal from product itself preparation aspect is not a problem. We are repeatedly pushing our product rhythm.

Due to indeed new products more, plus existing products also have annual change launch. So next year's listing rhythm, launch rhythm, how can ensure each product launch in good time point, this is what we are currently focusing on considering.

14、What is the reason for first half investment income loss?

Li Tengfei: One aspect is Leapmotor International has a little small loss. Main source is exchange gain/loss caused impact. Second half expected to make up first half loss. Leapmotor International this year overall profit. We feel no too big problem.

15、Does Leapmotor have some breakthroughs in shipping capability aspect?

Li Tengfei: Due to China new energy vehicle export explosive growth. Shipping whether RoRo ships or various aspects, indeed in first half presented relatively tense state.

Leapmotor also cooperates with major shipping companies. Also includes cooperating with Stellantis Group in deep communication and cooperation. Overall, currently compared to March, April time shipping speed has certain improvement. We think can guarantee our full year overseas 200,000 units sales.

16、Currently Leapmotor overseas channels exceeded 1,000 stores. Subsequent planning how?

Li Tengfei: Our channels mainly in Europe. In Europe our channels will also further develop. Especially our previously layout relatively small Eastern Europe, Northern Europe etc. countries.

Of course, our overseas channels next step focus point more will be in South America. Leapmotor South America channels quantity now rise speed very fast. Last month Leapmotor formally enter Argentina market. Including Brazil, Chile, Uruguay etc. South America markets. In rapid development and expansion. Also includes our Asia-Pacific region channels further development.

From our perspective, our partners in Europe, South America, Asia-Pacific channels very rich, strength very strong. Like Stellantis Group in South America is market share ranked number one group. Moreover leads second market share very much. So we borrow our partner's strength. Overseas channels progress will be very efficient. Lay foundation for our sales doubling.

02.

First Half Revenue 38.11 Billion Yuan

Net Profit Year-over-Year Growth About 600%

From the financial report meeting, can feel, Leapmotor executives for Leapmotor performance and subsequent development very confident. This naturally has Leapmotor in 2026 first half performance announcement expressed strong momentum support.

According to Zhejiang Leapmotor Technology Co., Ltd. (hereinafter referred to as Leapmotor) released ended June 30, 2026 six-month interim performance announcement. Leapmotor in 2026 first half revenue was RMB 38.11 billion yuan. Compared to 2025 first half 24.25 billion yuan increase 57.2%. Leapmotor side explained mainly due to whole vehicle and spare parts delivery volume increase.

▲Leapmotor 2026 First Half Revenue

Regarding gross margin aspect, Leapmotor 2026 first half gross margin was 11.7%. Compared to 2025 first half 14.1% decreased 2.4 percentage points. Leapmotor side explained mainly due to raw material cost increase impact and whole vehicle product mix changes.

▲Leapmotor 2026 First Half Gross Profit

First half 2026, Leapmotor's net profit was 210 million yuan. While 2025 first half was 30 million yuan. Year-over-year growth about 600%.

▲Leapmotor 2026 First Half Net Profit

Regarding sales volume aspect, first half 2026, Leapmotor total sales volume was 356,500 units. Compared to 2025 same period delivery volume growth 60.8%. In this year already published data first 5 months comparable terminal license quantity, Leapmotor ranked global new energy passenger car brand fourth name.

Among them, Leapmotor in 2026 first half export volume 96,300 units. Year-over-year growth 372.6%. Already exceeded 2025 full year export total. Accounted for 2026 first half Leapmotor total sales 27.0%. July 2026, Leapmotor export volume 17,600 units. 2026 Jan-July cumulative export volume already reached 113,900 units.

In July 2026, Leapmotor delivery volume reached new high, reached 101,300 units. Single month delivery first break 100,000 unit threshold. Become domestic first single month delivery volume break 100,000 units new force brand.

Zoom In

▲Leapmotor 2026 First Half Sales

Leapmotor 2026 first half R&D expense was 2.32 billion yuan. Compared to 2025 first half 1.89 billion yuan increase 22.8%. Leapmotor side introduced this change mainly due to R&D investment intensity increase and R&D personnel increase.

Leapmotor side also specially mentioned. Currently City Navigation assisted driving function already at Leapmotor ABCD full series models open. At same time will 2026 third quarter to LEAP3.0 architecture models push national city navigation assisted driving. In addition, Leapmotor will 2026 September launch new architecture assisted driving solution.

▲Leapmotor 2026 First Half R&D Performance

Regarding cash reserve aspect, until June 30, 2026, Leapmotor's cash and cash equivalents, restricted cash, financial assets at fair value through profit or loss and bank time deposit balance is RMB 38.59 billion yuan.

Regarding sales channel aspect, until June 30, 2026, Leapmotor's sales service network has covered 298 cities. City coverage rate reached 87.4%. Cumulative layout 1,064 sales stores (including 459 Leapmotor centers and 605 experience centers) and 562 service stores. Compared to 2025 same period increase 258 sales stores and 101 service stores.

▲Leapmotor 2026 First Half Sales Channel Expansion

Regarding going overseas aspect, until 2026 June end, Leapmotor International B.V. (Leapmotor International) already in Europe, South America, North America, Asia-Pacific, Middle East and Africa etc. over 45 international markets established over 1,000 outlets both having sales and after-sales service functions. Among them Europe over 900 stores, Asia-Pacific market over 50 stores, South America market over 30 stores, North America market over 30 stores.

At same time, Leapmotor brand is accelerating promote overseas localized assembly production layout.

In Southeast Asia, Leapmotor Malaysia localized assembly project has achieved substantive progress: Relying on Stellantis Group located Malaysia Kedah State Gurun factory. C10 model completed SOP and entered formal mass production stage. Soon in Malaysia market start sales. B10 model planned to Q3 achieve mass production and simultaneous launch.

In Europe, Leapmotor Spain localized assembly project progressed simultaneously. Stellantis Group Zaragoza factory completed supporting transformation. B10 project expected Q3 formal production start. B05 project planned within year trial production, 2027 formal mass production. For above models matching battery factory also completed transformation, expected Q3 start mass production.

In South America, Leapmotor and Stellantis Group already selected Stellantis Group Brazil Goiania factory as South America localized assembly project assembly base. Will first start Leapmotor B10 localized assembly production. Planned to 2027 second half formally put into mass production.

▲Leapmotor 2026 First Half Globalization Progress

03.

Conclusion: Leapmotor Accelerates Sprinting

In fiercely competitive new energy vehicle market, Leapmotor in 2026 first half handed out a remarkable scorecard. Revenue and sales volume move together. Net profit also 600% growth. Showed strong development momentum.

In addition, Leapmotor single month delivery volume already broke 100,000 units threshold. Overseas market expansion also results splendid. Also is accelerating promote overseas localized assembly production layout. Further push global market performance.

Combining next year new model quantity greater than this year and next year 350,000 to 400,000 units overseas sales target looking, Leapmotor is accelerating sprinting.