Leapmotor October Deliveries Hit Record 106,127 Vehicles

Leapmotor (HKEX: 9863) delivered a record 106,127 vehicles globally in October 2026, marking its fourth consecutive month with deliveries exceeding 100,000 units. The Chinese electric vehicle manufacturer announced its latest delivery figures on Sunday and said its 2 millionth vehicle is expected to roll off the production line in November. October deliveries increased 50.99% year-on-year and 0.45% month-on-month, although both growth rates moderated compared with September, when deliveries increased 58.51% and 2.45%, respectively.

During the first 10 months of 2026, Leapmotor delivered 772,666 vehicles, representing a 65.88% increase from the corresponding period last year. This volume accounted for 77.27% of the company's previously announced annual delivery target of 1 million vehicles. To achieve that target, Leapmotor must deliver another 227,334 vehicles during November and December, requiring average monthly deliveries of 113,667 units. That monthly requirement is higher than October's record delivery volume, indicating the scale of the increase needed during the final two months of the year.

Leapmotor also reported that its cumulative global deliveries had surpassed 1.9 million vehicles by the end of October. The company's anticipated production of its 2 millionth vehicle in November represents a separate manufacturing milestone from its cumulative delivery performance. While the delivery figure reflects vehicles handed over to customers, the upcoming milestone relates to the number of vehicles produced. Together, these developments highlight the company's expanding manufacturing and delivery operations as it continues to increase its presence in domestic and international electric vehicle markets.

Overseas expansion is contributing to Leapmotor's growth, with the company increasing its manufacturing footprint and introducing additional models in international markets. In October, mass production of the B10 officially began at its Zaragoza plant in Spain. The facility adds to the company's European manufacturing operations, which also include a battery plant in Mallén. While the Zaragoza site handles vehicle production, the Mallén facility focuses on battery module assembly and related key processes, establishing distinct manufacturing roles across the company's two Spanish plants.

Leapmotor also used the October Paris Motor Show to showcase its complete product lineup, introducing the A05 and flagship D19 SUV to European audiences for the first time. The European debuts expanded the company's international product visibility and demonstrated its efforts to present a broader range of vehicles beyond its existing offerings. The showcase forms part of its wider overseas expansion strategy, alongside the establishment of local manufacturing capabilities and the introduction of additional models across international markets.

In Southeast Asia, Leapmotor launched the A10 battery-electric compact SUV in Thailand on October 30. Known as the B03X in international markets, the model had arrived at 19 local showrooms following its launch. The company also outlined plans to introduce an updated C10 in Thailand before the end of 2026 and expand its local sales and service network to 30 locations. These initiatives are intended to extend its market presence and strengthen its local distribution and customer support infrastructure.

Leapmotor's international operations are supported by Leapmotor International, its joint venture with Stellantis NV (NYSE: STLA). Stellantis holds a 51% stake in the venture, which has exclusive rights to sell and manufacture Leapmotor products outside Greater China. This arrangement provides the framework for the company's overseas commercial and manufacturing activities, including its expansion across European and Southeast Asian markets. The joint venture therefore plays a central role in supporting Leapmotor's international distribution and production strategy.

Within China, Leapmotor launched the A10s on October 18, expanding its A10 model lineup with upgrades to exterior styling, interior design and comfort features. The original A10 had already become a significant contributor to the company's deliveries, accounting for approximately 23% of its total deliveries in September. The A10s introduction adds another variant to the lineup as the company continues expanding its domestic product portfolio alongside its international launches and manufacturing developments.

Industry Impact & Outlook

Leapmotor's October performance highlights the combination of strong delivery growth, expanding manufacturing capacity and broader international market development in its electric vehicle business. Its Spanish production operations, Southeast Asian model launches and partnership with Stellantis demonstrate how the company is extending its activities beyond its domestic market. However, achieving the annual target of 1 million vehicles will require average monthly deliveries of 113,667 units during November and December, exceeding October's record. The company's ability to reach this target will depend on its delivery performance during the remaining two months, while its upcoming 2 millionth vehicle production milestone represents a separate measure of manufacturing scale.

Frequently Asked Questions

How many vehicles did Leapmotor deliver in October 2026?
Leapmotor delivered a record 106,127 vehicles globally in October 2026, marking its fourth consecutive month with deliveries above 100,000 units. The monthly total increased 50.99% compared with October 2025 and 0.45% compared with September 2026. Although deliveries continued to reach new highs, both growth rates moderated from September's year-on-year increase of 58.51% and month-on-month increase of 2.45%. The October performance contributed to cumulative deliveries of 772,666 vehicles during the first 10 months of 2026.

What is Leapmotor's vehicle delivery target for 2026?
Leapmotor has a previously announced annual delivery target of 1 million vehicles for 2026, with 772,666 vehicles delivered during the first 10 months. This represents 77.27% of the full-year target. To achieve the objective, the company needs another 227,334 deliveries during November and December. That requires an average of 113,667 vehicles per month, a level higher than its October record of 106,127 units. Consequently, the company needs to increase its monthly delivery volume during the final two months to meet its stated target.

When is Leapmotor expected to produce its 2 millionth vehicle?
Leapmotor expects its 2 millionth vehicle to roll off the production line in November 2026, following cumulative global deliveries exceeding 1.9 million vehicles by the end of October. The anticipated production milestone represents a manufacturing achievement rather than a customer delivery figure. These measurements reflect different stages of the company's operations: production counts vehicles manufactured, while deliveries count vehicles handed over to customers. The November milestone would mark another significant point in Leapmotor's expansion of its vehicle manufacturing operations.

What manufacturing operations does Leapmotor have in Spain?
Leapmotor operates two manufacturing facilities in Spain, with separate responsibilities for vehicle production and battery-related processes. The Zaragoza plant officially began mass production of the B10 in October 2026 and handles vehicle manufacturing. Its second facility, located in Mallén, focuses on battery module assembly and related key processes. Together, these plants form part of the company's expanding European manufacturing footprint. The facilities support its overseas operations as Leapmotor introduces additional models and strengthens its presence in international markets.

Which Leapmotor models were introduced in international markets during October 2026?
Leapmotor expanded its international product activities in October 2026 through several model presentations and launches. At the Paris Motor Show, the company showcased its complete lineup, with the A05 and flagship D19 SUV making their European debuts. In Thailand, it launched the A10 battery-electric compact SUV on October 30, with the model known as the B03X in international markets. The company also announced plans to introduce an updated C10 in Thailand before the end of the year. Separately, it launched the A10s in China on October 18.

What role does Stellantis play in Leapmotor's overseas expansion?
Stellantis supports Leapmotor's overseas operations through Leapmotor International, a joint venture in which Stellantis holds a 51% stake. The venture has exclusive rights to sell and manufacture Leapmotor products outside Greater China, providing the framework for the company's international commercial and manufacturing activities. This partnership supports Leapmotor's expansion into markets including Europe and Southeast Asia. Its international activities include the B10's production in Spain, the introduction of vehicles in Thailand and the development of overseas sales and service networks.