Leapmotor hits record 106,127 October deliveries, fourth straight month above 100,000

• October deliveries rose 50.99% year-on-year and 0.45% month-on-month, with both growth rates slowing from September.
• Deliveries totaled 772,666 vehicles in the first 10 months, reaching 77.27% of the annual target of 1 million.

Leapmotor (HKEX: 9863) delivered a record 106,127 vehicles globally in October, exceeding 100,000 for the fourth consecutive month.

The Chinese EV maker released its latest delivery figures on Sunday, and said its 2 millionth vehicle is expected to roll off the production line in November.

Leapmotor's October deliveries rose 50.99% year-on-year and 0.45% month-on-month, slowing from September's growth rates of 58.51% and 2.45%, respectively, according to data compiled by CnEVPost.

In the first 10 months of the year, Leapmotor delivered 772,666 vehicles, up 65.88% year-on-year, achieving 77.27% of its previously announced annual delivery target of 1 million.

To meet that target, the company needs to deliver another 227,334 vehicles in the final 2 months of the year, averaging 113,667 per month, above October's level.

Leapmotor said its cumulative global deliveries had exceeded 1.9 million vehicles by the end of October. The expected roll-out of its 2 millionth vehicle in November marks a separate production milestone.

Overseas expansion is supporting Leapmotor's delivery growth. The company said in its latest statement that mass production of the B10 officially began at its Zaragoza plant in Spain in October.

Leapmotor now has 2 plants in Spain. The Zaragoza facility handles vehicle production, while the battery plant in Mallén focuses on battery module assembly and related key processes.

The company also showcased its full product lineup at the Paris Motor Show in October, with the A05 and flagship D19 SUV making their European debuts.

In Southeast Asia, Leapmotor launched the A10 battery-electric compact SUV in Thailand on October 30. The model, known as the B03X in international markets, has arrived at 19 local showrooms.

The company plans to introduce an updated C10 in Thailand before the end of the year and expand its local sales and service network to 30 locations, extending its overseas reach.

Leapmotor's overseas operations are supported by Leapmotor International, its joint venture with Stellantis NV (NYSE: STLA). Stellantis holds a 51% stake in the venture, which has exclusive rights to sell and manufacture Leapmotor products outside Greater China.

In China, Leapmotor launched the A10s on October 18, expanding the A10 lineup with upgrades to exterior styling, interior design and comfort features. The A10 accounted for about 23% of the company's deliveries in September, according to data compiled by CnEVPost.