A product launch event where the CEO remains incognito, and a "half-price Model 3" with an aggressively priced tag.
Fast Reading
- The Leapmotor B01, the first pure - electric sedan in Leapmotor's B - series, was officially launched, targeting the RMB 100,000 - level new - energy sedan market.
- The price of the Leapmotor B01 is only about half that of the Model 3. It is expected to quickly open up the market after its launch and become a new engine for Leapmotor's sales growth.
- Zhu Jiangming revealed that 2026 will be a big year for Leapmotor, and five to six models will be launched.
At the Hangzhou E - sports Center, there was still an hour before the 7 p.m. press conference. Zhu Jiangming, the chairman and CEO of Leapmotor, arrived at the scene early.
Xuebao Finance saw at the scene that he was wearing a black short - sleeved T - shirt with the Leapmotor logo. He first walked around the exhibition area at the entrance and then went to the backstage of the venue. Throughout the process, he whispered to several colleagues beside him from time to time.
At 7 p.m. sharp, Zhu Jiangming had already taken his seat in the first row on the right side of the venue, while a large area facing the center of the stage was reserved for the media. In the next hour, in this venue that can accommodate up to 5,000 people, Zhu Jiangming only needed to play one role: a quiet spectator.
The theme of the press conference that night was "For the Youth". This was the first time that Zhu Jiangming, the founder of Leapmotor, did not take the stage to give a speech at an important new - product launch. This time, he handed the stage to the younger management. The entire press conference was hosted by Cao Li, the senior vice - president of Leapmotor. At the beginning, Cao Li joked about Zhu Jiangming, saying, "The B01 is a car for young people. Mr. Zhu thinks he is not young enough."
On July 24, the "Leapmotor B01", the first pure - electric sedan in Leapmotor's B - series, was officially launched. This new car is positioned as a "high - quality intelligent sedan for young people", targeting consumers aged 25 to 35 in the pan - urban circle. A total of six versions with three different ranges have been launched, with an official guide price ranging from RMB 89,800 to RMB 119,800. Deliveries have started from now on.
Leapmotor chose Hangzhou, its headquarters location, for the first public appearance of the B01. Cao Li introduced in detail many selling points of this car, including but not limited to: a range of 650 kilometers, allowing for a week of urban commuting without charging; ultra - low power consumption, making the charging cost per kilometer only a few cents; the only model in its class with dual Qualcomm flagship chips + end - to - end assisted driving with lidar; a 0 - 100 km/h acceleration in 6.4 seconds; and free lifetime battery warranty.
On the PPT displayed at the scene, Cao Li compared many parameters and performances of the B01 with those of the Tesla Model 3. In most cases, the B01 either outperformed or was basically on par, but the price of the B01 is only about half that of the Model 3. "It is definitely the most competitive in the same - level market," Cao Li summarized.
In the new - energy sedan market, the Model 3 once refreshed the market's perception of intelligent electric sedans in a pioneering manner, bringing intelligent cockpits, assisted driving, and vehicle - wide intelligence into the public view. This kind of experience used to only be available in cars worth two or three hundred thousand yuan.
"The Model 3 costs more than RMB 230,000, while the B01 costs about RMB 120,000. (Although there is a big price difference) but we can benchmark it with various indicators. Many people say it's a 'half - price Model 3', and I think it really has that potential," Zhu Jiangming added during the media communication session after the press conference.
Leapmotor hopes that with the strength of a "half - price Model 3", it can meet users' requirements for range, driving control, intelligence, space, good looks, and all - around safety, while allowing users not to compromise on their budgets. "Having no weaknesses is the biggest highlight of the Leapmotor B01. The B01 offers a solution that has a long range, strong endurance, and is easy for users to understand," Cao Li said.
In terms of price range, the B01 targets the RMB 100,000 - level new - energy sedan segment. Data from the Passenger Car Association shows that the price range of RMB 100,000 to RMB 150,000 is one of the price ranges with the fastest penetration rate in the past four years. In 2021, the new - energy penetration rate in this price segment was only 8.5%, and it has exceeded 50% in 2025.
This market has been mostly occupied by pure - electric ride - hailing cars, plug - in hybrid family cars, and two - door cars that save space. These models either have a strong resemblance to fuel - powered cars, or have a low level of intelligence, or have a crowded rear row, or simply pursue performance while ignoring the riding experience of other passengers. "There has always been a lack of a real sedan with long range, good driving experience, intelligence, large space, good looks, and safety in the market." Therefore, Leapmotor's management believes that this is a blue - ocean market in a red - ocean industry.
Leapmotor is not the only one eyeing this market. In the RMB 100,000 - level pure - electric sedan market, there are also models such as the XPeng MONA M03, BYD Qin, and BYD Seal 06. Among them, the MONA M03 has delivered over 10,000 units for eight consecutive months and is the sales pillar of XPeng Motors.
In Cao Li's view, it is difficult to make new - energy sedans. If done poorly, it may turn into a ride - hailing car; if done well, it is not easy to bring down the price and cost. "So, mainstream sedans, especially those priced at around RMB 100,000, are a great test of a car company's capabilities."
Leapmotor's current product matrix mainly covers three categories: mini - cars, sedans, and SUVs, with a simple product lineup structure:
The T03 has entered the market for small cars priced below RMB 100,000; the pure - electric sedans and SUVs in the B - series cover the price range of RMB 80,000 to RMB 120,000; in the C - series, the C10, C11, and C16 form Leapmotor's most important SUV product lineup, targeting the market priced at RMB 150,000 to RMB 200,000. In the future, there will also be models in the D - series to undertake the mission of upgrading Leapmotor's products and brand.
Currently, there are three models in the B - series: the B10, the B01, and the yet - to - be - launched B05. The earliest - launched B10 became the sales champion of domestic pure - electric A - class SUVs with a monthly sales volume of over 14,300 units. "The hot sales of the B10 have verified our in - depth understanding of market demand. The addition of the B01 will form a strategic synergy effect between the two models, covering a wider range of consumer levels," Leapmotor said.
In June, Leapmotor's total deliveries exceeded 48,000 units. After the addition of the B01, monthly sales are expected to further increase. Leapmotor optimistically predicted in a press release: "Relying on the good reputation accumulated by the Leapmotor B10, the Leapmotor B01 is expected to quickly open up the market after its launch and become a new engine for the brand's sales growth."
The overall growth of the B - series and C - series not only brings an increase in delivery volume but also an optimization of the company's profitability. Leapmotor's monthly sales volume in the second quarter was basically stable above 40,000 units, and it is expected that the gross profit and net profit in that quarter will increase significantly.
Looking ahead to next year, Zhu Jiangming revealed that 2026 will be a big year for Leapmotor, and five to six models will be launched, including those in the A - series and flagship models. "Leapmotor not only conducts in - house R & D across the board, but also extreme innovation is necessary. Without innovation, there is no future."
Two days before this press conference (July 22), Leapmotor was listed on the Fortune China 500 list for the first time, ranking 423rd. "We need to ensure that Leapmotor achieves a sales volume of 500,000 units this year. This is a small goal. We also need to strive to become a world - class electric vehicle company, with the goal of achieving an annual sales volume of 4 million units. This is our big goal," Zhu Jiangming reiterated.
Behind this big goal is his long - standing judgment: an annual sales volume of one million units is the foundation for any car company to survive. "Otherwise, it will be very difficult to survive. Even with a sales volume of five or six hundred thousand units, a company is still on the verge of struggling to survive."
Cover source: Leapmotor
This article is from the WeChat official account "Xuebao Finance" (ID: xuebaocaijingshe). Author: Chen Xuning, Editor: Huang Yuntao. Republished by 36Kr with permission.