A 200% Stock Surge Makes Leapmotor China’s Next EV Rising Star

Zhejiang Leapmotor Technology Co., once a fringe player in China’s electric-vehicle industry, is beating all its startup rivals by sales and stock gains this year and analysts say there’s more to come.

The carmaker’s Hong Kong-listed shares have doubled since January — outpacing better-known peers XPeng Inc. and Xiaomi Corp. — and have surged more than 200% from a low in August last year. The company has increased its 2025 sales target to 500,000 units, up from around 290,000 a year earlier, and is tipped to deliver its first annual profit.