Leapmotor saw significant sequential sales growth last month, and most importantly, the higher-priced models are starting to dominate sales. The electric vehicle (EV) maker delivered 8,726 vehicles in April, down 3.97 percent from 9,087 a year ago, but up 41.38 percent from 6,172 in March.

Founded in 2015, Leapmotor's models on sale include the minivan T03, the coupe sports model S01, the flagship SUV model C11, and the flagship sedan C01. The company's previous sales were mainly contributed by the cheap EV T03, which led Leapmotor to be seen as a budget EV maker.

As of June 30, 2022, Leapmotor had delivered a cumulative total of 79,220 T03s, 2,729 S01s, and 22,880 C11s, according to its Hong Kong IPO prospectus published in September 2022.

The C11 BEV, which was launched on September 29, 2021, and the C01, which was launched on September 28, 2022, are Leapmotor's flagship models, targeting the RMB 150,000 to 300,000 range.

On March 1, Leapmotor officially launched the C11 EREV, with hopes that the model will target a larger market than BEVs and thus turn around its weak sales performance.