Chinese electric-vehicle (EV) makers are raising the game in the premium segment by launching more spacious and longer-range models to challenge Tesla, which has been steadily losing market share on the mainland.
Stellantis-backed Leapmotor has become the latest to join the fray against Elon Musk’s Tesla, with founder and CEO Zhu Jiangming describing its decision to move up the value chain as a mission to offer consumers the best EVs at the best prices.
“Leapmotor is able to launch higher-end and more sophisticated models at affordable prices, which will prove to be a value-for-money proposition for all customers,” he said at an event in Shanghai on Thursday to unveil the D19 luxury SUV. “We have been fine-tuning our technologies and improving our capabilities for years.”
Hangzhou-based Leapmotor, 20 per cent owned by Stellantis, formerly Fiat Chrysler, has consistently racked up high sales this year in the highly competitive EV sector, as its low-priced intelligent models have been well received by young and middle-income consumers.
The luxury SUV, which features extended-range battery technology, is the 10-year-old company’s first vehicle in the premium segment.
