China Auto Daily丨Leapmotor Achieves Profitability in Q4 2024

Leapmotor Turns Profitable in Q4 2024

On March 10th, Leapmotor announced via a Hong Kong Stock Exchange filing that it achieved positive net profit in Q4 2024, amounting to RMB 80 million ($11.2 million). The company has met its target of turning profitable on a quarterly basis one year ahead of schedule, becoming the second new energy vehicle startup to do so.

Leapmotor B10 Pre-Sales Kick Off at RMB 109,800

On March 10th, Leapmotor B10 opened for pre-orders with five variants priced between RMB 109,800 ($15,400) and RMB 139,800 ($19,600), set to hit the market and commence deliveries in April. Built on the LEAP 3.5 architecture B platform, the new model is equipped with Qualcomm's fourth-generation Snapdragon cockpit platform and Snapdragon intelligent driving platform. It aims to capture the compact vehicle market segment priced between RMB 100,000 and RMB 150,000. In terms of power, the Leapmotor B10 features a single-motor rear-wheel drive with two power versions. The maximum power outputs are 132kW and 160kW respectively. It also adopts CTC battery chassis integration technology, with LFP battery cells. The pure electric range comes in 510km and 600km versions, and the 0-100km/h acceleration time is 6.8 seconds.

2025 Tank 300 Officially Launched at RMB 199,800 - RMB 249,800

On March 10th, the 2025 Tank 300 was officially launched, offering four configurations with prices ranging from RMB 199,800 ($28,300) to RMB 249,800 ($35,000). The new model retains the design of the current version, with a focus on interior upgrades. The entire lineup's power system has been enhanced, with the addition of diesel power and Hi4-T plug-in hybrid power. All models are equipped with a 9AT transmission.

China Passenger Car Association: New Energy Vehicle Sales and Production Estimated at 16 Million Units This Year

On March 10th, the China Passenger Car Association stated that new energy vehicle sales and production are estimated to reach around 1.6 million units this year, generating sales of over RMB 2 trillion ($280 billion). 2025 marks the final year of the vehicle purchase tax exemption policy. Under the current new vehicle sales market scale, it is estimated that this will release a tax exemption benefit of about RMB 200 billion for vehicle purchase tax. In total, this amounts to a scale of over RMB 400 billion. Relative to the RMB 5 trillion automotive sales, a subsidy of RMB 400 billion is historically rare in scale and represents an unprecedented level of support for the development of the automotive market.