China’s Leapmotor introduces new manufacturing platform, encourages others to adopt it.

China's Leapmotor introduces new manufacturing platform, encourages others to adopt it.

Leapmotor Unveils “Four Leaf Clover” Platform for Future Vehicles

Leapmotor

Chinese electric vehicle (EV) manufacturer Zhejiang Leapmotor Technology (9863.HK) has introduced its new in-house developed platform, named the “Four Leaf Clover” architecture. Leapmotor’s CEO, Zhu Jiangming, shared during a press conference in Shanghai that this platform encompasses an integrated computing system, enabling control over intelligent functions such as autonomous driving and smart cockpits.

Leapmotor is not only looking to use this technology for their own vehicles but also aims to license this platform to other automakers. Zhu indicated that the company is already in advanced discussions with two foreign companies, including a new player in the EV industry, which could potentially produce Leapmotor-designed models for international markets. This move positions Leapmotor not just as an EV brand but also as a technology licensor, sharing core technologies with other players in the industry.

The “Four Leaf Clover” platform paves the way for cost savings as well. Leapmotor engineers have managed to reduce the use of controls and wire harnesses, resulting in a 500 yuan ($70) reduction in materials cost per car. This achievement underlines Leapmotor’s commitment to creating affordable and accessible EVs.

Looking to the future, Leapmotor has plans to launch the next generation of the platform in 2025. The company aims to further enhance computing capabilities and improve smart cockpit functionalities. By continually investing in research and development, Leapmotor aspires to stay at the forefront of EV technology innovation.

Zhu Jiangming, a veteran electronics engineer who co-founded surveillance giant Dahua (002236.SZ), has been leading Leapmotor since its establishment in 2015. The company has garnered support from investors including state-owned Shanghai Electric Group Corp and Hongshan (formerly Sequoia Capital China). Despite the challenges faced by Chinese EV startups, particularly due to Tesla’s (TSLA.O) price war earlier this year, Leapmotor remains dedicated to innovation and growth.

Leapmotor is not alone in its pursuit of collaborations. Last week, Volkswagen (VOWG_p.DE) and Xpeng (9868.HK) announced a partnership to develop EVs on Xpeng’s G9 “Edward” platform. Analysts believe this collaboration will boost Xpeng’s sales and profitability.

While Leapmotor’s sales experienced a slight decline of 14% in the first half of this year, the company has a workforce of over 2,000 engineers who are passionate about creating intelligent and technologically advanced EVs. Leapmotor demonstrates its commitment by allocating 11% of its total revenue to research and development in 2022.

As the EV market continues to evolve, it is crucial for manufacturers like Leapmotor to differentiate themselves by providing innovative and feature-rich vehicles. With the introduction of the “Four Leaf Clover” platform, Leapmotor not only strengthens its own brand but also aims to support the growth of the EV industry by sharing its core technologies with other automakers. This approach fosters collaboration and contributes to the ongoing advancement of electric mobility on a global scale.

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