Beijing (ZXZC)- In the fourth month of 2023, Chinese new energy vehicle startup Leapmotor achieved a double-digit increase in auto deliveries compared to the previous month.

Photo credit: Leapmotor

In April 2023, Leapmotor’s monthly deliveries reached 8,726 vehicles, jumping 41% from a month ago, but notching down 3.97% year over year. According to Leapmotor, over 83% of the vehicles delivered in the past month were from its C series lineup, which included the C01 and the C11. 

In the first four months of this year, the startup’s cumulative auto deliveries amounted to 19,235 vehicles. 

According to the automaker’s financial report, in the past year, Leapmotor’s annual revenue amounted to 12.385 billion yuan, soaring 295.4% year on year. Its net loss came in at 5.109 billion yuan in 2022, compared to the 2.846 billion yuan of net loss in 2021. The adjusted net loss (non-IFRS) after deducting share-based employee benefit payment came down to 4.566 billion yuan.

Leapmotor has been actively strengthening its own technology R&D capabilities since establishment. In 2022, Leapmotor poured in 1.411 billion yuan in R&D, which hiked 90.6% year over year. The increase in R&D expenses was mainly driven by the expansion of its R&D team.