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flag Leapmotor raises 2025 sales target to 600,000 units, eyes 1M by 2026 after $534M funding.

flag Leapmotor, a Chinese electric vehicle maker, raised its 2025 sales target to over 600,000 units after surpassing its original 500,000 goal ahead of schedule, with CEO Zhu Jiangming setting a 2026 target of 1 million units and a long-term goal of 4 million annual sales. flag The company’s shares rose 1.4% to HK$50.63 amid news of a $533.8 million fundraising deal with FAW Equity, a state-owned firm, which will acquire a 5% stake. flag Funds will support R&D, operations, and global expansion, including localization projects in Malaysia by mid-2026 and Spain by year-end. flag Leapmotor, which manufactures 65% of its parts in-house, claims a 10% cost advantage and is advancing partnerships with Stellantis and FAW without ceding control.

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