Stellantis Group’s Chinese partner Leapmotor turned around a loss in the first half of last year to post a ¥30 million (A$6.5m) profit for the first six months (H1) of 2025.
The result is a marked turnaround from a ¥2.2 billion (A$4.7bn) loss over the same period last year, with an operating profit of 14.1 per cent being the highest since the company was formed in 2015.
It’s only the second Chinese automotive start-up to post a half-yearly profit after Li Auto – which is not present in Australia – announced a ¥11.8 billion ($A2.55bn) profit in the first half of 2024 and continues to operate profitably.
Leapmotor sold more than 50,000 vehicles in a month for the first time in July 2025 and has increased its global sales target for 2025, from 290,000 to 500,000 sales, as it sets its sights on its first full-year profit.
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Above: Leapmotor C10
Leapmotor launched in Australia in late 2024 with its C10 mid-size SUV, which was initially released as an electric vehicle (EV) and then joined by an extended-range electric vehicle (EREV) powertrain option dubbed as REEV.
To the end of July this year, Leapmotor has sold 352 examples of the C10, which is currently priced from $43,888 drive-away (C10 REEV) and $45,888 drive-away (C10 EV).
It’s expected to confirm a second model for its local lineup, the B10 electric SUV, which could land here by the end of 2025.
In Europe, its most popular model is the Polish-made T03 electric city car – not confirmed for Australia – priced around £16,000 ($A33,450), making it one of the most affordable EVs on sale.
Above: Leapmotor B10
Leapmotor is expected to reveal a small electric hatch called the B05 at the Munich motor show next month.
Dutch-based Stellantis has a majority stake in Leapmotor’s international operations, its first China venture. Stellantis also owns brands including Alfa Romeo, Maserati, Jeep, Fiat, Peugeot and Chrysler.
The Leapmotor profit marks a reversal of fortunes for Stellantis, which posted a €2.3 billion ($A4.15bn) loss overall in the first half of 2025 after a €5.6 billion ($A10.1bn) profit in the first six months of 2024.
It delivered six per cent fewer vehicles in total, including 25 per cent fewer in the US, six per cent fewer in Europe, and six per cent fewer in the China/India/Asia Pacific region, which includes Australia.
Deliveries in South America improved by 20 per cent in H1, in one of Leapmotor’s few positive results so far in 2025.
Above: Leapmotor T03
Among its brands, Alfa Romeo also posted strong sales in the first half of 2025, up 20 per cent, but speculation persists – despite repeated denials from Stellantis – that Maserati is up for sale, following a 32 per cent H1 decline.
Stellantis’ overall result was impacted by changes brought on by US import tariffs – both automotive-specific and broader tariffs on materials – which hit Maserati especially hard, given it’s the brand’s biggest market.
Amid the headwinds, Antonio Filosa took over the company as Stellantis CEO from June 2025, after Carlos Taveras stepped down in dramatic fashion last December.