"For us, to survive, we have to achieve at least 500,000 to 1 million units of annual sales globally.
The top 10 automakers in the world all have annual sales of more than 4 million units.
Leapmotor had sales of almost 111,000 EVs in China in 2022, up from just over 44,000 in 2021.
With European automakers scrambling to take a larger share of an EV boom in China that has largely left them behind, several have been looking at or licensing EV technology developed in China.
Reporting by Zhang Yan in Munich, writing by Kevin Krolicki; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
Persons:
Zhu Jiangming, Leonhard Simon, Leapmotor, ” Zhu, Xpeng, Zhu, Zhang Yan, Kevin Krolicki, Hugh Lawson
Organizations:
REUTERS, Rights, HK, Reuters, Volkswagen, Toyota, Audi, SAIC Motor Corp, VW, Thomson
Locations:
Munich, Germany, China, Europe, Australia, New Zealand