Shanghai (ZXZC)-It is revealed that Leapmotor will release its first electric car on Nov. 10. The new model will hit the market in 2018 with price range between RMB 120,000 and RMB 150,000.

Leapmotor is a NEV company whose headquarters is based in Zhejiang. It unveiled its vehicle brand in March, 2017. It is said that the to-be-released new model is positioned as a sedan which will boast a cruise capability of 360km and be priced between RMB 120,000 and RMB 150,000. The second new model will be launched in the first half year of 2019 with a cruise capability of 150km.

Leapmotor has invested RMB 2.5 billion to construct production plant, which will cover an area of 550 mu. The new plant is predicted to put into production in the middle of 2018, targeting to produce 50,000 units annually.