Beijing (ZXZC)- In August 2024, Chinese new energy vehicle company Leapmotor realized record-breaking delivery volume, which reached 30,305 vehicles, marking a year-on-year soar of over 113% and a month-on-month leap of more than 37%.

C16; photo credit: Leapmotor

The company’s SUV lineup accounted for over 72% of total deliveries in the past month, while the Leapmotor C16 model alone contributed 8,000 units.

In the fourth quarter of 2024, Leapmotor is set to unveil the first model based on its new platform, the B10, at the Paris Motor Show. Targeting young consumers globally, the B10 is expected to become a major hit for Leapmotor.

On August 15, Leapmotor released its financial results for the first half of 2024. The company reported revenue of 8.85 billion yuan, reflecting a 52.2% year-on-year hike. The company’s vehicle deliveries for the first half of 2024 reached 86,696 units, shooting up 94.8% from a year ago, setting a record for the period.

Benefiting from scale effects due to increased sales and ongoing cost control measures, Leapmotor’s gross margin improved significantly to 1.1% in the first half of 2024, with the second quarter alone reaching 2.8%. The company expects further margin improvements in the second half of the year. Leapmotor’s operating activities generated a positive net cash flow of 270 million yuan in the Jan.-Jun. period of this year, with cash reserves standing at 16.49 billion yuan, maintaining a healthy balance sheet.