Leapmotor’s T03 Budget Electric Vehicle Model: Up to $1,380 in Purchase Subsidies

Leapmotor’s T03, a Battery Electric Vehicle (BEV), now boasts an enticing starting price of just RMB 49,900, thanks to the company’s latest subsidy initiative.

In September, Leapmotor joined the ranks of Chinese electric vehicle (EV) manufacturers offering subsidies to their customers.

Today, Leapmotor has unveiled that buyers of the T03 model, during the promotional period from September 1 to September 30, will qualify for a purchase subsidy of up to RMB 10,000 ($1,380) directly from the company.

The Leapmotor T03 is available in four variants, priced initially at RMB 59,900, RMB 61,900, RMB 80,900, and RMB 89,900, respectively.

However, following the application of these subsidies this month, the prices are reduced to RMB 49,900, RMB 61,900, RMB 72,900, and RMB 79,900 for each respective model.

These four models offer impressive CLTC ranges, with distances of 200 kilometers, 310 kilometers, 403 kilometers, and 403 kilometers, respectively.

Founded in 2015, Leapmotor offers a diverse lineup of models, including the T03, the sporty S01 coupe, the flagship C11 SUV, and the high-end C01 sedan.

The T03 has been a standout performer for Leapmotor, earning the company a reputation as a budget-friendly EV manufacturer.

Leapmotor’s flagship models, the C11 BEV and the C01 BEV, made their debut on September 29, 2021, and September 28, 2022, respectively, targeting the RMB 150,000 to RMB 300,000 price range.

Leapmotor’s founder, chairman, and CEO, Zhu Jiangming, announced on November 14, 2022, following the release of the company’s third-quarter results, that all models on the C platform, as well as future platforms, will offer both BEV and extended-range electric vehicle (EREV) versions.

In response to the intensifying competition in China’s EV market, the company implemented price reductions of up to RMB 20,000 for the BEV versions of the C01 and C11 on August 1.