Zhu Jiangming forecasts that within a decade, 90–95% of vehicles in China will be electric, while global electrification will reach 60–70% over the same period.
On October 23, according to Chinese media reports, Leapmotor founder, chairman and CEO Zhu Jiangming said in an interview that China’s new energy vehicle (NEV) supply chain has achieved a globally leading position, with not only strong vehicle manufacturing capabilities but also clear advantages in the scale, quality, and cost of core components.
Zhu believes the transition from internal combustion engines (ICEs) to NEVs is accelerating rapidly. “In another three to four years, China’s automotive market will be almost entirely dominated by NEVs,” he said. “Within the next decade, 90% to 95% of vehicles in China will be electric.”
He also projected that global electrification will reach 60% to 70% during the same period. Zhu said Leapmotor aims to leverage this transformation window to bring Chinese technologies and products to the global stage, targeting annual sales of 4 million units and establishing itself as a “world-class intelligent EV company.”
Financially, Leapmotor is moving out of its early loss-making phase. According to its 2025 interim financial report, the ten-year-old company turned profitable for the first time on a half-year basis, posting a net profit of RMB 30 million and a gross margin of 14.1%. Leapmotor thus became the second Chinese EV startup to achieve profitability, following Li Auto.
Sales performance has also continued to improve. In the first three quarters of 2025, Leapmotor delivered nearly 400,000 vehicles, topping China’s new EV makers’ sales rankings for seven consecutive months. In September alone, deliveries reached 66,657 units, up more than 97% year-on-year — the first time monthly sales exceeded 60,000.
As for new products, Zhu revealed in ChinaEV Home‘s previous report that 2026 will mark Leapmotor’s most intensive product rollout year. In addition to the competitive B series already unveiled, the company plans to launch new models under the Lafa 5, C, and D series, with 2–3 new D-series models and two from the A series scheduled for release.
Zhu has also recently boosted his personal stake in the company. According to a stock exchange filing, he and shareholder Fu Liquan jointly purchased 3,243,500 Leapmotor H-shares at an average price of HK$63.19 per share, for a total consideration of around HK$200 million ($25.6 million).
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