Published on September 21st, 2022 | by Sounder Rajen0
Chinese EV Brand Leapmotor To Officially Offer Shares
Leapmotor along with joint sponsors expect it to list soon
ACNNewswire reports, according to Bloomberg, Zhejiang Leapmotor Technology (Leapmotor) has begun to offer shares to its joint sponsors, JPMorgan, CICC, Citigroup and CCB International and expects to list on the Hong Kong Stock Exchange on 29 September 2022. Their full article is linked here.
Leapmotor is a Chinese smart EV manufacturer and aims to deliver the most intelligent mobility experience to all its customers. The company utilizes its cutting edge technology and innovative minds to build EVs known for their smart features and quick growth to transform cars from just transport to intelligent mobile spaces.
Leapmotor has a full suite of R&D capabilities at its disposal and pairs it with core technologies to develop intelligent EVs. This includes all key software and hardware as well as designing and producing all core systems in-house. This is not only the foundation of the company, but also the brand’s key to staying competitive.
In 2021, the New Energy Vehicle (NEV) volume in China was 3.3 million units and that number is expected to reach 10.6 million by 2026, making it the first time ever that the NEV volume will be higher than the volume of internal combustion engine (ICE) vehicles.
On top of that, Leapmotor delivered more than 8,000 smart EVs in 2020 bringing their total number of sold vehicles to 43,478 increasing 443.5 percent making them the fastest growing pure-play EV companies in China for delivery volume.
This led to an increase in revenue for Leapmotor and revenue has been increasing steadily every year for the brand since then and continues to increase even now into 2022. The brand is seeing an increase of 479.4 percent for the first half of this year at RMB5,081.5 million.
With this booming popularity of EVs, there is no better time than now for any brand, not just Leapmotor, who manufacture EVs, to start selling or offering shares as it will most likely boom just like the NEV market and that will prove very useful for companies in the future as extra profit is always a good thing.
What do you think about this? Should our local brands start investing in EVs too? Well Proton already has PRO-NET in partnership with Smart so I suppose we will have to see how well that goes for now and then maybe we can see our local heroes make the leap to EVs themselves.
Thank you, once again to ACNNewswire for this information.