Leap confirmed: the net loss in 2023 will exceed 4.2 billion yuan, and the loss for selling a car will be 29,200 yuan

On March 25, Leapmotor disclosed its 2023 financial report, with revenue of 16.75 billion yuan, a year-on-year increase of 35.2%, a positive gross profit margin of 0.5% for the first time, and a positive operating cash flow of 1.08 billion yuan for the first time, and 19.39 billion yuan of funds on hand by the end of 2023.

In 2023, Leapmotor delivered 144,155 new vehicles, a year-on-year increase of nearly 30%, and a net loss of RMB4.21 billion, a year-on-year decrease of 17.5%. According to this calculation, Leap will pay an average of 29,200 yuan for each car sold.

C10

C11

C01

T03

In October 2023, Stellantis Group invested about 1.5 billion euros (about 11.5 billion yuan) to acquire about 20% of the equity of Leapmotor. At the same time, Stellantis Group and Leapmotor will establish a 51%:49% joint venture called "Leapmotor International" to export and sell to all other markets around the world, as well as the right to manufacture Leapmotor products locally.

At the beginning of March 2024, Leapmotor C10 and 24 new products were officially launched, and the guide price was reduced by 1,000 yuan to 50,000 yuan respectively compared with the old model. Among them, the new C01 upgrades the four-domain integrated central integrated electronic and electrical architecture, and is equipped with CTC2.0 battery chassis integration technology, which has stronger product strength. As the first global strategic model under the LEAP 3.0 technology architecture, the all-new C10 is equipped with a four-domain integrated electronic and electrical architecture, Qualcomm SA8295P flagship intelligent cabin chip, and NVIDIA Orin-X+ lidar hardware to realize high-end driver assistance functions.