On the evening of November 27, Leapmotor announced the signing of a strategic cooperation agreement with Myanmar's NPK MOTOR to launch a KD (Knock Down) project. The collaboration will see the establishment of an assembly line in Myanmar, marking a significant step forward in Leapmotor's global expansion strategy and injecting fresh momentum into the Southeast Asian market.
NPK MOTOR holds a pivotal position in Myanmar's new energy vehicle (NEV) sector, with a business scope spanning manufacturing, trade, and automobile sales. The company has actively promoted electric vehicles and charging networks, emerging as a leading NEV distributor in the local market. This partnership, centered on local assembly, is expected to significantly reduce costs while introducing cutting-edge electric vehicle products to Myanmar. In addition to meeting the local demand for green transportation, the project will contribute to tax revenues, create employment opportunities, and facilitate the development of the local NEV industry.
Leapmotor has committed to providing comprehensive support for the KD project, including technical expertise, brand promotion, and service assurance, to ensure its successful implementation and long-term growth in Myanmar. Both parties aim to accelerate market expansion and strengthen their positions amid fierce global competition. This project underscores Leapmotor's ambition to promote China's NEV manufacturing capabilities on the global stage.
This collaboration is a continuation of Leapmotor's "Year One of Globalization" initiative, which has already seen significant milestones in 2024. In March, Leapmotor rapidly assembled an international team; by May, Leapmotor International was formally established. In July, the company, in partnership with Stellantis Group, exported its first batches of C10 and T03 electric vehicles to Europe. By September, Leapmotor officially launched in 13 European countries and hosted global media test drives, further cementing its presence in international markets. Leapmotor International plans to expand its global sales network to 350 outlets by the end of this year and aims to release at least one new model annually over the next three years to diversify its product portfolio.
Through this partnership, Leapmotor has not only expanded its footprint in Southeast Asia but also demonstrated its strategic commitment to deepening its presence in the global market. Moving forward, Leapmotor will continue to accelerate its internationalization efforts, leveraging advanced technology and high-quality products to provide green mobility solutions to consumers worldwide. This endeavor not only supports the global NEV industry but also enhances the international reputation of Chinese manufacturing.
