Overview
- FAW Equity Investment agreed to subscribe 74,832,245 onshore shares at RMB 50.03 each, a RMB 3.74386 billion placement disclosed in a Hong Kong filing.
- Proceeds allocation: about 50% to R&D, roughly 25% to working capital and general purposes, and approximately 25% to expand sales and service coverage.
- FAW Qixin Power and Leapmotor will co-develop plug‑in hybrid and range‑extender powertrains with production coordination, and Zhu Jiangming said their first joint model is planned to debut in 2026.
- The subscription equals about 20.47% of Leapmotor’s enlarged onshore share count and about 5% of total enlarged shares, with executives emphasizing that the founding team remains in effective control.
- At its 10th‑anniversary event in Hangzhou, Leapmotor showcased the D19 full‑size SUV and the D99 MPV, with the D19 slated for first‑half 2026 deliveries and offered in pure‑electric and range‑extended versions.