Leapmotor Enters German Market with €49/Month EV Lease

Chinese automaker Leapmotor has entered the German market, launching a leasing program for its T03 urban electric vehicle starting at just €49 per month (approximately $58), a price that already includes Germany’s latest EV subsidy. This monthly rate is roughly half that of the similarly sized Fiat 500. The T03 comes standard with a rearview camera, six airbags, and a panoramic sunroof. According to data released on May 7 by Germany’s Federal Motor Transport Authority (KBA), Leapmotor’s April sales in Germany surged more than threefold year-over-year. From January to April 2024, the company delivered a total of 4,523 vehicles in Germany, marking a 358% increase compared to the same period last year. Although current sales volumes remain relatively small, this rapid growth trajectory positions Leapmotor to potentially surpass local sales of brands like Smart and Honda. Leapmotor is expanding into Europe through a partnership with Stellantis, leveraging its sales and dealership network. The all-electric Fiat 500, offered by Stellantis, starts at €99 per month, and the company has stated it is not concerned about Leapmotor diverting its sales. Germany is Europe’s largest EV market and launched a €3 billion EV subsidy program in 2024, which Chinese brands are eligible to apply for. Although Chinese EV exports to the EU still incur tariffs, their lower manufacturing costs enable them to remain profitable in the German market. Chinese brands, including Leapmotor, are now competing directly with European entry-level EVs such as the Renault R5 E-Tech and Volkswagen ID. Polo.