Leapmotor sees record Q1 sales, ups margin

Leapmotor reported record Q1 2025 revenue of RMB 10.02 billion, up 187.1% YoY, as vehicle deliveries surged 162.1% to 87,552 units. Gross margin improved to 14.9%, supported by increased scale, cost controls, and a stronger product mix. Net loss narrowed to RMB 130 million from RMB 1.01 billion, with cash and equivalents totaling RMB 25.7 billion as of March 31.