Leapmotor has entered into an agreement with Chinese state-owned carmaker FAW to supply an electric vehicle platform for Hongqi-branded EVs intended for export markets outside China. Discussions are reportedly ongoing with a European sports car manufacturer as well, hinting at further expansion opportunities.
At the Shanghai Auto Show, executives from Leapmotor and FAW confirmed to Reuters that a future Hongqi model will be built using Leapmotor’s technology. “We have finalized the partnership to jointly develop a model for overseas market,” Leapmotor CEO Zhu Jiangming shared during an interview at the event. Production is set to commence in the latter half of 2026.
The collaboration was preceded by a memorandum of understanding signed between FAW and Leapmotor in early March. Although that agreement indicated potential for joint projects and capital investment, it did not specifically mention Hongqi at the time.
Platform Details and Future Models
Leapmotor showcased its B01 mid-size sedan at Auto Shanghai, based on the new LEAP 3.5 architecture. It also presented the larger C16 electric SUV, which uses the older LEAP 3.0 platform. Insiders suggest that the Hongqi model will likely be based on the SUV platform of the Leapmotor B10, a member of the LEAP 3.5 generation. Both a fully electric version and a range extender (EREV) variant are reportedly under development.
While the Leapmotor B10 is priced at around €12,000 in China, the Hongqi-branded model is expected to be significantly more expensive to align with its premium image.
A Milestone for Leapmotor
Founded in 2015, Leapmotor has quickly become a profitable competitor in China’s aggressive EV market. Its deal with Hongqi marks a major step forward – providing the platform for China’s oldest car brand. Historically, Hongqi – meaning “Red Flag” – produced limousines for the nation’s leadership but has recently rebranded itself as a premium marque under FAW’s guidance.
Challenges and Ambitions
Giles Taylor, Hongqi’s chief designer and former Rolls-Royce design head, stated that the new model would reflect Hongqi’s current aesthetic. “The challenge with taking a platform from Leapmotor is making it into a cool, relevant, trendy, but good-looking Hongqi. It has to be Hongqi,” Taylor explained. “I’ve got no problem taking the powertrain, but we apply a magic on top.”
Potential Expansion to Europe
Leapmotor’s collaboration with Hongqi could be just the beginning. According to Reuters, Leapmotor is also reportedly negotiating with Ferrari to develop a new model based on its EV platform. A Ferrari with a Chinese-developed understructure would mark a groundbreaking shift for the luxury brand.
Although Ferrari has yet to confirm these discussions, it is known that CEO Benedetto Vigna visited Leapmotor facilities in February, a visit that went largely unnoticed at the time. Ferrari’s own in-house EV project is progressing independently, with the first electric Ferrari expected to debut in Q4 2025, produced at the company’s Maranello headquarters.
The developments signal Leapmotor’s growing influence not just within China, but also on the global automotive stage.
