Amid the intensifying “elimination competition” in the new energy vehicle (NEV) market, Leapmotor has gained both strong sales performance and market recognition. Against this backdrop, its model D19 will continue to adopt Leapmotor’s cost-based pricing logic to drive market growth.
Both Leapmotor and consumers seem to have their own anxieties about the pioneering work of the Leapmotor D series.
On October 16th, at its global debut launch event, Leapmotor revealed that the D19 would be equipped with a range-extended 80kWh large battery, a cockpit chip with 1280 TOPS of computing power, and a host of premium configurations including a dual-chamber closed air suspension plus CDC damping. These features have sparked both anticipation and concern among people: Will the D19 still offer a surprising price tag?
Leapmotor’s internal team had long anticipated this situation. From the announcement of the D-Series’ existence to this morning’s group interview following the D19 pre-sale launch, Zhu Jiangming, CEO of Leapmotor, and Cao Li, Senior Vice President of Leapmotor, both emphasized that the pricing strategy for the D19 aligns with Leapmotor’s previous product positioning.
Regarding the D19’s positioning, Zhu Jiangming stated, “The product embodies luxury, but the price does not. This is Leapmotor’s consistent philosophy and approach, and something we have always adhered to.”
Financial reports show that in the first half of this year, Leapmotor’s revenue from electric vehicle and component sales reached 23.1 billion yuan ($3.24 billion) (1 yuan = $0.14, based on $1 = 7.12 yuan), with a total of 221,664 new vehicles delivered. The average revenue per vehicle was approximately 104,200 yuan ($14,635) , and the automotive gross profit margin stood at around 12%, making Leapmotor the second new energy vehicle (NEV) brand to achieve profitability.
Against the backdrop of an intensifying “elimination race” in the NEV market—where Leapmotor has gained recognition for both its brand and sales performance this year—what pricing logic will the D19 adopt to gain a foothold in the market?
The group interview may give us the answer.
Staying True to Its Original Aspiration
Leapmotor has long been associated with the term “half-price” in the public mind. This is evident in its previous B-Series and C-Series models, which the brand itself does not shy away from labeling as the “half-price Tesla Model 3” or “half-price Li Auto” equivalents.
With its relatively affordable pricing and configurations that rival high-end models, Leapmotor has shown growing momentum in recent years. Its monthly deliveries exceeded 60,000 units in September, and it has claimed the top spot in new energy vehicle sales for seven consecutive months—tangible proof of the effectiveness of this strategy.
Underpinning Leapmotor’s current sales success is its consistent cost-based pricing philosophy and focus on meeting users’ practical needs—a principle that remains unchanged even for the D19, a model aimed at the higher-end segment.
To understand the original intention behind the D19’s pricing, the first step is to identify what consumers interested in this model truly need.
During the group interview, Zhu Jiangming once again shared his views on the future trends of battery electric vehicles (BEVs) and extended-range electric vehicles (EREVs):
“I have always said that BEVs will definitely become the mainstream direction in the future, while EREVs are a configuration for vehicles that target consumers with higher budgets and demand more premium features. I have been making this point in various forums half a year ago, even a year ago.”
A little-known fact: Even in 2025, a year when Leapmotor’s sales have been rising steadily, public data from Autohome shows that BEVs have consistently accounted for a larger share of the brand’s sales—with BEVs and EREVs split roughly 80:20.
Take September of this year as an example: Leapmotor sold a total of 12,663 C10 units, of which 10,915 were BEVs, accounting for a staggering 86.2%.
As early as November last year, Zhu Jiangming also mentioned that EREV products only accounted for 20% of the brand’s total sales, while BEVs remained the main driver of Leapmotor’s sales volume.
When using the EREV version of the C16 (which has a pure electric range of 280 km), Zhu noticed that even with a 30% discount on electricity costs, users in cities like Beijing and Shanghai—where daily commutes are generally longer—still faced frequent charging, which added inconvenience.
Based on this logic, even in the large-sized vehicle market (where BEVs seemingly have less of an advantage), Leapmotor’s strategy remains “BEV-focused, EREV-supplemented.”
Consumers who prefer the D19’s 80.3kWh battery EREV version are those “who have sufficient budgets and are willing to pay an extra 10,000-plus yuan ($1,405-plus) for an engine and range extender.” They seek worry-free travel during the Spring Festival home rush while ensuring low daily vehicle operating costs.
These high-net-worth consumers not only demand practical configurations such as large batteries and long ranges but also value pragmatic features and product performance—a preference reflected in Leapmotor’s repeated emphasis during the group interview that “our brand positioning has not changed, and the launch of the D-Series does not mean we are becoming a high-end brand.”
With a 720 km pure electric range (for the BEV version), over 500 km pure electric range (for the EREV version), and dual-chamber air suspension, the D19 is precisely designed to meet the demand for “pragmatic luxury.”
In Leapmotor’s view, the company does not distinguish between “luxury” and “non-luxury” models; instead, differences lie in configuration levels and vehicle sizes.
The D-Series will still adopt cost-based pricing. Leapmotor’s goal is to offer a price that resonates with consumers, balancing limited costs with rich configurations.
Cao Li gave an example: Leapmotor will neither price a model that costs 200,000-300,000 yuan ($28,090-$42,135) to produce at 100,000-plus yuan ($14,045-plus) just to boost sales, nor will the D19—with a size comparable to luxury vehicles—significantly increase Leapmotor’s gross profit margin.
Leapmotor’s gross profit margin will “remain at a relatively reasonable level,” adhering to the same pricing logic as the B-Series and C-Series.
This echoes Zhu Jiangming’s statement: “Leapmotor has always been committed to making mass-market products and pursuing a not excessively high gross profit margin. Instead, we rely on scale.”
Leapmotor’s confidence stems from its first-half financial report this year. In H1 2025, Leapmotor achieved an overall gross profit margin of 14.1%, with operating losses plummeting by 96.3%. This proves that the pricing of Leapmotor’s existing models is not a “loss-leading strategy” to attract customers; instead, economies of scale and cost control have laid the foundation for the brand to gradually turn a profit.
Behind all this is Leapmotor’s unwavering commitment to full-stack self-development.
Self-Development: The Key to Cost-Effectiveness
Self-development remains the core driver behind Leapmotor’s ability to deliver cost-effective products.
Previously, Leapmotor mentioned its efforts to mass-produce high-value-added components—and breakthroughs have been made in some areas.
For instance, both air conditioning compressors and seats have entered mass production. The monthly output of seats has reached 20,000-30,000 units, partially replacing external suppliers. Additionally, the defect rate of Leapmotor’s self-developed air conditioning compressors is “far lower than that of the original suppliers.”
Zhu Jiangming noted that with the support of self-development capabilities, “once a certain technology matures and can deliver real value to users, we will quickly integrate it into our vehicles and put it into application.”
This does not conflict with the D19’s list of strong suppliers. Why? Because Leapmotor independently develops its vehicle platforms, battery packs, advanced driver assistance systems (ADAS) algorithms, and even thermal management systems, motors, and a significant portion of ECUs (electronic control units).
At last night’s launch event, Leapmotor also stated that the self-research and self-manufacturing ratio of its entire vehicles has reached 65%. Earlier this year, when the all-new C11 was launched, Leapmotor even expressed its ambition to achieve wider self-research and self-manufacturing for components priced above 500 yuan ($70.23) .
However, this does not mean that Leapmotor will prioritize self-research and self-manufacturing for all components. The brand’s philosophy still centers on cost and safety, leading it to insist on using products from well-known suppliers for some core components.
Zhu Jiangming explained that Leapmotor is capable of developing certain core components itself, but “the input-output ratio is not that high, and it would take a long time.” Moreover, considering safety and reliability, it is better to source some core components from suppliers with mature and proven experience.
At the same time, Leapmotor also collaborates with suppliers on innovation.
For example, Leapmotor and ZF jointly developed an integrated electric drive and generator system, enabling the motor to function as both a driver and a generator.
Leapmotor has also integrated the exhaust pipe into the sill beam to improve integration, and optimized the layout of CATL’s battery cells inside the vehicle to enhance space utilization and reduce vehicle weight.
The combination of supplier collaboration and self-research/self-manufacturing is the key to the D19’s ability to target the higher-end segment with its large size and premium configurations while adhering to Leapmotor’s cost-based pricing principle.
This is a distinctly “Chinese-style” vehicle—offering abundant value and configurations (“generous in quantity and features”)—so there are no plans for overseas expansion for the time being. The Chinese market will likely be its sole battlefield for now, and this market has never been short of outstanding products.
Confidence in 2026
Leapmotor is highly confident in its performance over the next two years: It expects to complete its 2025 annual sales target of 500,000 units ahead of schedule.
Furthermore, in 2026, in addition to products like the B-Series and Lafa5, Leapmotor will launch 2-3 new models in the D-Series and 2 new models in the A-Series. “2026 will be the year when Leapmotor’s product lineup expands the most,” the brand stated.
As of September, Leapmotor’s cumulative sales in 2025 have reached 395,500 units. If it can maintain a monthly delivery rate of 60,000 units, Leapmotor will be able to complete its annual delivery target of 500,000 units as early as November—making it the first new energy vehicle brand to achieve its annual target.
In terms of overseas sales: Leapmotor entered the German market in August last year, and has since sold 6,263 new vehicles there. Since the start of 2025, Leapmotor’s progress in the German market has been remarkable.
From January to August this year, Leapmotor sold 5,658 units in Germany—showcasing the initial effectiveness of its product capabilities and support from Stellantis.
Europe will be Leapmotor’s most important market outside China. The brand has set a sales target of 50,000-60,000 units for Europe this year, and aims to double this figure in 2026. With over 1,700 sales and service outlets already established across Europe, Leapmotor is gearing up for further growth.
Domestically, Leapmotor’s next monthly sales target may be 100,000 units—a goal that will require support from a more diverse product matrix.
This means the D19, which is scheduled to go on sale in the first quarter of 2026, will be the first product to kick off Leapmotor’s new journey toward its 2026 goals. Will the confidence Leapmotor demonstrated in its pricing and sales during the group interview prove effective once again?
We await the answer.（End）
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