Beijing (ZXZC)- China’s EV startup, Leapmotor, has established a new subsidiary, Zhejiang Lingsheng Power Technology Co., Ltd., according to the corporate database, Qichacha.

C11; photo credit: Leapmotor

The new subsidiary was registered on December 20th, with Leapmotor’s founder, Zhu Jiangming as its legal representative and executive director.

The company has a registered capital of RMB200 million and is wholly owned by Leapmotor.

According to Qichacha, the business scopes of the company include electric motor/ control system R&D, auto parts R&D, intelligent control system integration, software development, IoT technical service.

T03; photo credit: Leapmotor

Investing in its own powertrain company indicates Leapmotor’s growing autonomy within the supply chain. In fact, Leapmotor is one of the few startups to develop core technology and auto parts by itself. The company has successfully developed its own intelligent driving technology, smart cockpit, high-performance electric drive, and battery cell-related technologies.

By the end of August, Leapmotor had filed for 1,186 patents, and 517 of which were patents for invention, ranking NO.2 among all automaking startups in invention patent volume. Patents on battery, electric motor, and electronic control accounted for 40% of the company’s filed patents.

Currently, Leapmotor’s technical team makes up for over 60% of its employees. The company has also built a team dedicated to L4 algorithms.

In addition, by the end of November, the company has received vehicle orders totaling 73,561 units this year, accomplishing its annual target with one month to spare.  

Moreover, aside from the three existing models on the market, Leapmotor plans to roll out eight more models by the end of 2025.