Chinese electric vehicle manufacturer Leapmotor has introduced a new midsize electric sedan, the B01, priced at 89,800 yuan (US$12,552) in mainland China.

The company aims to compete globally, offering features similar to Tesla’s Model 3 at a significantly lower price.

Deliveries of the B01 in China are expected to commence this month, but no timeline has been announced for international availability.

Built on Leapmotor’s updated Leap3.5 platform, the B01 supports smart driving and fast charging.

It offers five variants that provide driving ranges from 430 km to 650 km, with the top variant priced at 119,800 yuan (US$16,745).

Additionally, the vehicle includes lidar sensors to enhance driver assistance systems.

Its battery can deliver 300 km of range with just 18 minutes of charging.

Tesla’s Model 3 remains pricier in China, while local competitors like Xpeng’s Mona M03 also aim to capture the EV market share.

Despite China’s EV market being crowded and low-margin, Leapmotor sees export potential and aims to scale with higher profitability.

Leapmotor posted record June 2025 sales and received a US$1.6 billion investment from Stellantis to support its long-term target of 4 million annual sales.