China’s Leapmotor unveils new production system, wishes many others to use it

Robotic arms assemble cars and trucks in the creation line for Leapmotor’s electric powered automobiles at a manufacturing facility in Jinhua, Zhejiang province, China, April 26, 2023. China Each day by means of REUTERS/File Image

SHANGHAI, July 31 (Reuters) – Chinese electrical car or truck maker Zhejiang Leapmotor Technological know-how (9863.HK) unveiled on Monday a new platform it produced in-residence for creating cars, which its chief govt mentioned it would like to license to other automakers.

The “4 Leaf Clover” architecture capabilities an integrated computing platform capable of controlling all intelligent features which includes an EV’s autonomous driving and clever cockpit features, Leapmotor’s CEO Zhu Jiangming told reporters in Shanghai.

The corporation hopes to offer the system to other automakers via tech licensing agreements, he claimed.

Leapmotor is in highly developed talks with two international organizations about this sort of partnerships, including a new participant in the electric motor vehicle section, which could deliver Leapmotor-formulated versions in overseas marketplaces, Zhu said with out elaborating.

“We hope Leapmotor will not only be an EV manufacturer but also a licensor of core technologies,” Zhu said.

Corporations in the automotive sector use the terms platform and architecture to explain the basic engineering and style that determines a vehicle’s dimension, bodyweight and crucial features of efficiency.

A senior Leapmotor engineer advised the celebration the company experienced accomplished price tag cost savings with the architecture by cutting down the use of controls and wire harnesses, and Zhu said this would lower the supplies expense for every automobile by 500 yuan ($70).

The organization is already arranging to launch the platform’s future technology in 2025, which would consist of enhancements in computing abilities and smart cockpits, Zhu stated.

Zhu, a veteran electronics engineer who co-founded surveillance giant Dahua (002236.SZ), introduced Leapmotor in 2015 with the backing of traders which includes state-owned Shanghai Electrical Group Corp and Hongshan, formerly recognised as Sequoia Funds China.

The company and its fellow Chinese EV startups have been struggling with losses and declining sales due to the fact U.S. rival Tesla (TSLA.O) started a selling price war at the beginning of the year.

Leapmotor, which employs extra than 2,000 engineers, marketed 44,500 units in the first half, 14% fewer than a calendar year back.

But some young EV makers, many thanks to their significant research and growth financial investment, have been at the forefront of EV technology innovation that appeals to tech-savvy Chinese buyers who like having extra smart capabilities in cars.

Leapmotor expended 11% of its whole income on R&D in 2022.

Volkswagen (VOWG_p.DE) and Xpeng (9868.HK) announced very last 7 days a partnership to jointly build EVs on Xpeng’s G9 “Edward” platform, in a fillip for the Chinese startup that analysts explained could raise its product sales and profitability.

($1 = 7.1512 Chinese yuan renminbi)

Reporting by Zhang Yan and Brenda Goh Enhancing by Jacqueline Wong, Robert Birsel and Tomasz Janowski

Our Requirements: The Thomson Reuters Rely on Ideas.

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