Latest news with #Leapmotor
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First Post
7 hours ago
- Business
- First Post
China's factory output contracts in July amid declining exports
China's factory output contracted in July amid declining exports, with the S&P Global China General Manufacturing PMI falling to 49.5 in July from 50.4 in June — below the analysts' expectations of 50.4. read more Robotic arms assemble cars in the production line for Leapmotor's electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. (China Daily via Reuters/File Photo) China's factory activity deteriorated in July, as a softening of new business growth led manufacturers to scale back production, a private-sector survey showed on Friday. The S&P Global China General Manufacturing PMI fell to 49.5 in July from 50.4 in June, undershooting analysts' expectations of 50.4 in a Reuters poll. The 50-mark separates growth from contraction. The reading, combined with Thursday's official survey, bodes ill for growth momentum at the start of the third quarter, following robust growth in the first half of the year. STORY CONTINUES BELOW THIS AD Amid a trade truce with Washington, economists say the support of exports front-loading ahead of higher U.S. tariffs to the world's second-biggest economy may fade over the remainder of the year. According to the S&P Global survey, new export orders contracted for a fourth straight month and at a faster pace than in June. After rising in June, manufacturing output declined in July. Firms looked to utilise their current stock holdings for the fulfilment of orders, which contributed to a second successive monthly decline in post-production inventories. Falling production together with a stable backlog prompted factory owners to lower their headcount in July. Firms also said cost concerns had underpinned decisions to shed staff. However, business sentiment improved at the start of the second half of 2025 but was still below the series average. Manufacturers expected better economic conditions and promotional efforts to spur sales in the year ahead. As Beijing started to tackle 'price wars' among manufacturers, average input prices increased for the first time in five months. Firms nevertheless lowered their selling prices again as competition for new business intensified. But export charges increased at the fastest pace in a year due to rising shipping and logistics costs. STORY CONTINUES BELOW THIS AD Top leaders on Wednesday pledged to support an economy that is facing various risks, by managing what is viewed as disorderly competition in the second half of the year. Markets expected that Beijing may be about to start a new round of factory capacity cuts in a long-awaited but challenging campaign against deflation. From July, Caixin no longer sponsors the S&P Global China PMI. (This is an agency copy. Except for the headline, the copy has not been edited by Firstpost staff.)
Auto Express
2 days ago
- Automotive
- Auto Express
Cheap electric cars are more appealing than ever
We had a fascinating day recently, driving half a dozen of the cheapest electric cars around and covering plenty of miles to see how far these baby EVs can go on a charge in the real world. The six were split into distinct groups. The two most affordable cars feel very obviously cheap inside. I don't think I'd want to cover big miles in the Leapmotor T03 or Dacia Spring, but they are capable, low-cost options for an urban runaround second car that'll cost pennies to run. Advertisement - Article continues below When I checked Auto Express's marketplace, you could get a Spring for under £11,500, or £143 a month, or the Leapmotor T03 for less than £14,500. I'm not sure either will emerge from the Government's Electric Car Grant chaos with anything more off, but that still puts them among the cheapest cars you can buy. The other four cars feel notably more grown up and complete. The BYD Dolphin Surf, Fiat Grande Panda, Hyundai Inster and Renault 5 are all compelling options that, if you can charge at home and don't frequently cover big distances, have plenty of appeal. The Panda and 5 in particular have bags of character, whereas the Inster is a different, more sensible car that prioritises impressive cabin space (a well documented weakness of the Renault) over style. Skip advert Advertisement - Article continues below A big criticism of electric cars has long been that they are not affordable enough to encourage people to make the switch. But setting aside the new Electric Car Grant, we now have a whole spectrum of sensibly priced EVs. Panda apart – it's so new, we had to borrow a left-hand-drive car for our test – any of these models can be had for under £250 a month on lease, depending on size of deposit. Low prices don't mean there's no discount for buying outright, either – unless you want the 5, because right now Renault is selling every car it can get its hands on. In the Auto Express marketplace, the average saving on a new BYD Dolphin Surf is £1,300-plus, more than £2,000 on a T03, and over £3,000 on the others, so there are some hugely enticing deals around. But the key thing is that these aren't for glorified milk floats. With home charging, you can do all the urban running around you like, in a well equipped, stylish and perky performer, for not much more up front – and a load less on fuel – than with the equivalent petrol supermini. Fancy a low-cost EV on your driveway? Our Find a Car service has thousands of new, used and leasing deals to choose from... Find a car with the experts Hyundai reduces prices across its entire EV range Hyundai reduces prices across its entire EV range Korean brand acts swiftly to cut prices on all its electric cars, amid confusion over Government's grant scheme New Citroen C5 Aircross SUV undercuts the Volkswagen Tiguan by a huge £7k New Citroen C5 Aircross SUV undercuts the Volkswagen Tiguan by a huge £7k Citroen's revamped flagship C5 Aircross SUV is available to order now with hybrid or electric power Car Deal of the Day: Polestar 4 is a head-turning EV for a super cool price Car Deal of the Day: Polestar 4 is a head-turning EV for a super cool price The 'car with no rear window' is looking seriously cheap on lease right now. It's our Deal of the Day for July 28
Business Insider
6 days ago
- Automotive
- Business Insider
Stellantis Stock (STLA) Powers Forward as Tesla's Chinese Challenge Intensifies
Shares in auto maker Stellantis (STLA) raced higher today as rival Tesla (TSLA) was handed another huge roadblock in the Chinese EV market. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The Stellantis leap came on reports that Hangzhou-based EV maker Zhejiang Leapmotor Technology is launching a battery-powered sedan in mainland China. Leap Lower The B01, a midsize sedan, offers features similar to Tesla's Model 3 but reportedly at less than half the price at 89,800 yuan. According to a report in the South China Morning Post, it is understood that Leapmotor, which is backed by Stellantis, also plans to launch the car in global markets at a yet-to-be-decided date. Deliveries to mainland Chinese customers will reportedly begin this month and include five variants with driving ranges from 430 kilometers to 650 kilometers. The top-end model is priced at 119,800 yuan, the report said. Meanwhile, a Tesla-made Model 3 is priced from 235,500 yuan to 339,500 yuan. Tesla's China sales have suffered this year, falling month after month, as it suffered more intense competition from domestic rivals such as BYD (BYDDY). That's important given that a fifth of Tesla revenues come from China – see below. Stellantis Charge China's car market has also been dragged into a price war as companies compete to win over consumers who, hit by a sluggish economy, are reluctant to spend. However, Tesla recorded a 0.8% increase in June, delivering 71,599 units and breaking an eight-month losing streak. Meanwhile, deliveries of Tesla's China-made Model 3 and Model Y autos surged 16.1% compared to May. These figures include vehicles sold both within China and exported to other markets. Tesla is hoping for further growth from its revamped Model Y car. The six-seat sports utility vehicle could be launched in the fall. Reports suggest that the new Model Y will be larger than the current five-seat version and will have a top speed of 201 kilometers an hour. As for Stellantis, known for traditional car brands such as Chrysler, it keeps charging forward in the electric space. It has been reported that starting this September, some South African Stellantis dealers will sell Leapmotor electric vehicles, starting with the C10 SUV. More models are set to follow over the course of 2025 and into 2026. It's much needed if it wants to keep making inroads into the likes of Tesla both in China and elsewhere. As we see below it has underperformed Tesla substantially over the last 12 months.
South China Morning Post
24-07-2025
- Automotive
- South China Morning Post
Leapmotor rolls out smart EV at half the price of Tesla's Model 3 in push for global sales
Stellantis-backed Leapmotor has announced the latest phase in its global push by launching an electric midsize sedan that offers similar features to Tesla's Model 3 at less than half the price. The Hangzhou-based electric vehicle (EV) builder said the B01, priced from 89,800 yuan (US$12,542) in mainland China, would target markets around the world as it pursued new growth engines amid cutthroat competition at home. 'We are offering our answer to customers' demand for an exquisite, value-for-money mass market car,' Cao Li, Leapmotor's senior vice-president, told a press conference in Hangzhou on Thursday. 'We are confident that the new car has largely exceeded market expectations.' Deliveries to mainland Chinese customers would begin this month, but the company did not say when the new car would be sold overseas. Leapmotor developed the new model based on its upgraded architecture, known as Leap3.5, which supports smart driving and fast charging. An aerial view of Tesla's Megafactory in Shanghai, February 8, 2025. Photo: Xinhua The five variants of the B01 have driving ranges from 430km to 650km, with the top-end model priced at 119,800 yuan. The batteries can offer about 300km of mileage with 18 minutes of charging.
Zawya
24-07-2025
- Automotive
- Zawya
Stellantis to debut Leapmotor's EVs in South Africa this year
Stellantis plans to sell Chinese-branded electric vehicles developed by its partner Leapmotor in South Africa, starting with the C10 from September, the company said on Tuesday, 22 July. File photo: The logo of Zhejiang Leapmotor Technology, a Chinese electric vehicle maker, sits on its C10 electric vehicle at the opening of a company showroom in Hong Kong, China, on 11 June 2025. Reuters /Tyrone Siu/File Photo The C10 is an electric SUV with a petrol engine used purely to charge the battery. More Leapmotor models are expected to be launched next year, including fully electric models, Mike Whitfield, managing director of Stellantis South Africa and Sub-Saharan Africa, said in a statement. Leapmotor created waves with its recent rollout of the all-electric B10 SUV equipped with smart-driving features and lidar sensing technology for less than $18,000. In 2023, Stellantis bought a 21% stake in Leapmotor for $1.6bn. The two automakers also formed the joint venture Leapmotor International, in which Stellantis holds a 51% stake. Leapmotor will help the world's fourth-largest automaker widen its range of affordable EVs, as it presses ahead with electrification at a time when other Chinese automakers, including BYD and Chery Auto, are aggressively expanding into Africa. "South Africa is a critical market for Stellantis, and we are fully committed to unlocking its potential through product, innovation and meaningful partnerships," Whitfield said. Stellantis, which entered the South African market four years ago, is building a new plant in the country, with a maximum capacity of 100,000 vehicles by 2030. It plans to become the number one player in the Middle East and Africa region with one million vehicles sold by 2030, with 35% expected to be electric. In 2024, it sold 500,000 cars in the Middle East and Africa. With over 60% of the South African market concentrated below the R400k ($22,755) price point, Stellantis' Citroën C3 range is gaining strong traction, with the upcoming C3 Basalt set to complete a competitive lineup in the accessible B-hatch and SUV segments early next year, Whitfield said. Stellantis will also launch the Citroën C3 Hola panel van, its entry into the growing commercial vehicle sector aimed at small business owners.
