Leapmotor has officially entered Mexico, marking the Chinese electric-vehicle maker’s first step into North America as it seeks to expand beyond its home market through its partnership with Stellantis.

Leapmotor extended its record-breaking growth in June, delivering 93,376 vehicles worldwide, up 95% from a year earlier and setting a new monthly high. The performance pushed first-half deliveries to 356,487 units, reinforcing the Chinese EV maker's position as one of the industry's fastest-growing brands.

Leapmotor’s plan to launch a second brand has triggered fresh debate in China’s crowded electric vehicle market. The news was confirmed by vice-president Li Tengfei during the company’s first-quarter earnings call, raising a central question: can a company best known for value-for-money cars credibly enter the premium segment?

At a time when much of China’s automotive industry is tightening its belt, one company is doing the opposite.

Leapmotor has raised its annual sales target to 1.05 million vehicles — a bold upward revision from the one-million goal it announced only weeks earlier. In an industry entering what many describe as an era of “stock competition”, where growth is no longer guaranteed, such ambition stands out.