Leapmotor Sells 5% Stake To FAW, Previews First MPV Offering Too

Leapmotor hasn't sat idle despite the year coming to an end, evident through its recent new business partnership and the debut of its first MPV.

The year may be ending, but that hasn’t stopped upstart new energy vehicle (NEV) makers Leapmotor from chasing further growth and development. In fact, in recent weeks, the firm made a significant business deal and previewed a first in terms of new metal.

We’ll start with the former which occurred earlier this week, and it saw Leapmotor agreeing to sell a minor 5% stake to state-owned Chinese automaker FAW.

Firstly, Leapmotor inked a new business partnership with state-owned rivals FAW Group. The latter has agreed to acquire a 5% stake in Leapmotor and collaborate in PHEV and EREV/REEV vehicles.

Parent company FAW Group initially announced plans to invest up to RMB3.74 billion (RM2.16 billion) into the Leapmotor brand. Both firms have inked a domestic share subscription agreement on Dec 28, prompting Leapmotor to issue nearly 75 million new shares to FAW’s investment arm – FAW Equity Investment.

Through which, said investment arm of FAW Group has reportedly acquired a 5% equity in the Leapmotor brand at the cost of RMB50.03 (RM28.90) per share. In turn, Leapmotor brand founder Zhu Jiangming sees his stake drop from 23.8% to 22.6% instead.

Concurrently, global automakers Stellantis see their equity stake in the brand reduced to 19%. As a refresher, Leapmotor had previously courted Stellantis in late 2023, which saw the latter acquire an initial equity stake of 20% - the new deal with FAW sees their stake reduced slightly by 1%.

Naturally, with their newfound cross-investment, both Leapmotor and FAW Qixin Power are also set to collaborate on plug-in hybrid (PHEV) and range-extended/extended-range EV (REEV/EREV) vehicles.

Leapmotor also revealed new metal in the form of the D19 large SUV and D99 MPV - the latter marking the brand's first. (Image: AutoHome China)

Besides this new business partnership, Leapmotor had also previewed its first MPV model offering alongside a new large SUV model. Christened as the D99 and D19 respectively, both were revealed during the Leapmotor brand’s 10th anniversary celebrations held in Hangzhou this week on Dec 28.

Both the D99 MPV and D19 SUV offerings now form the marque’s D-series line-up. In terms of styling, the D99 shares a front fascia design with D19 featuring a distinct three-segment DRL and split headlamps. Brimmed in the front bumper too are active intake grilles.

Both the D19 (left) and D99 (right) don't just share similar styling cues, they also share the same BEV and REEV powertrain choices underneath.

Other notable visual traits include an angled A-pillar incorporating triangular windows that integrate with the roof seamlessly, followed by a two-tone exterior colourway and the presence of a roof-mounted laser radar system.

Closer inspection also shows the D99 sporting a short front overhang with both an extended wheelbase rear overhang, silver exterior accents, dual sliding doors with concealed rails, and 19-inch rolling stock.

Leapmotor's first MPV offering features high-tech touches like a roof-mounted laser radar system plus active intake grilles in the front bumper.

Only the exterior of the D99 was revealed, not the interior. However, Leapmotor did confirm that the D99 and D19 share the same two powertrain choices. First comes an electric option with a 1,000-volt platform packing a 115 kWh CATL hybrid cell battery pack.

Next to which comes an REEV choice and this one packs a smaller yet respectable 80.3 kWh battery pack encased in an 800-volt platform. For this variant specifically, Leapmotor touts fast-charging abilities that translates to 30-80% recharge times of 15 minutes.

Little else is known about the new Leapmotor D99 and D19 models, but more details are expected to be released in the coming months ahead of their market entry and commencement of sales across China.