Industry dynamics

Chinese EV startup Leading Ideal delivers over 2,600 new cars in April

Publishtime:2019/08/16 Views:9

Shanghai (ZXZC)- Chinese EV startup Leading Ideal announced that it delivered over 2,600 new vehicles from April 1 to April 29, a remarkable surge of nearly 80% compared to 1,447 units sold in March.

The cumulative deliveries of the Leading Ideal ONE, the company's first mass-produced model, amounted to around 6,500 units as of April 29, the NEV manufacturer said.

Chinese EV startup Leading Ideal delivers over 2,600 new cars in April

The startup at present possesses only one production model, which was defined as a REEV (range-extended electric vehicle) model. At a recent press conference, Li Xiang, founder and CEO of Leading Ideal said that the product will be repositioned as a plug-in hybrid model (PHEV) as the REEV is classified as a PHEV by the MIIT, and is generally regarded by consumers as a PHEV product as well.

Li also disclosed the startup doesn't plan to develop new models over the next three years.

Chinese EV startup Leading Ideal delivers over 2,600 new cars in April

The startup is ambitious to see its product account for 20% of China's NEV sales in 2025. To achieve that goal, Leading Ideal is actively expanding its dealership and after-sales networks. Including four retailing outlets opened on May 1 in Jinan, Ningbo, Shijiazhuang and Changsha respectively, it has so far had 19 dedicated dealerships in 17 cities of China, and the number is expected to grow to 30 by the third quarter.

Up until now, Leading Ideal has set up service outlets in 25 provinces and centrally-administered municipalities, and intends to expand the deployment in up to 100 cities in China by the end of this year (Leading Ideal One, photo source: Leading Ideal's WeChat account).