Leapmotor to begin manufacturing in Spain after profits surge sevenfold

Chinese electric vehicle maker Leapmotor is preparing to begin manufacturing outside China for the first time, with production of its B10 crossover set to start at the Figueruelas plant in Zaragoza, Spain during the third quarter of 2026, likely in October. The move comes alongside the brand's entry into Argentina and a set of first-half financial results that show the company's international ambitions gaining momentum.russpain

Record Profits and Surging Sales

Leapmotor posted a net profit of 208.4 million yuan (€26.5 million) for the first half of 2026, nearly seven times higher than the same period a year earlier. Revenue reached 38.1 billion yuan, up 57.1% year-over-year, with international revenue growing sevenfold to 9.1 billion yuan. The company delivered 356,487 vehicles globally in the first half, a roughly 97% increase, while overseas sales soared to 96,294 units — almost five times the prior year's figure.russpain

In July, Leapmotor crossed the 100,000 monthly delivery mark for the first time, making it the first Chinese EV startup to reach that threshold. Cumulative battery-electric registrations through July put Leapmotor second only to BYD in China, overtaking both Geely Galaxy and Tesla ↘ 2.13%. The company also climbed to third place in global quarterly BEV sales during the second quarter, according to TrendForce.globalchinaev+1

Spain and Argentina: The Stellantis Playbook

The Zaragoza production line will assemble B10 units at a Stellantis ↗ 0.46% facility that has undergone upgrades for the new model, with pilot production of a second vehicle, the B05, expected to begin later this year. Stellantis, which holds a 20% stake in Leapmotor after investing over €1.5 billion in late 2023, is also in talks to transfer its Villaverde plant in Madrid to the Chinese automaker. The localization strategy is designed to sidestep the EU's 30.7% import tariff on Chinese-made electric vehicles.russpain

In Argentina, Leapmotor launched the B10 and C10 as extended-range models, tapping Stellantis's local network for an initial 12 sales outlets and 20 after-sales centers, with access to over 300 Stellantis service points for basic maintenance. The choice of extended-range technology reflects the limited state of charging infrastructure in the country.autonews.gasgoo

Outlook

Despite the strong first half, Leapmotor revised its full-year net profit forecast downward to 3 billion yuan from a previously projected 5 billion yuan, citing rising raw material costs. The company is targeting 150,000 overseas sales by year-end, with a goal of 350,000 to 400,000 international deliveries in 2027. Its full-year target of 1 million total vehicles requires averaging roughly 107,000 units per month through December — above July's record but within reach if current trends hold.globalchinaev+1