Leapmotor (零跑)ʼs Zhu Jiangming: China has 17 automakers — but the market can’t fit them all

Hard words at a product launch

Leapmotor (零跑) founder and chairman Zhu Jiangming warned bluntly after the launch of the new A10 “smart, compact long‑range SUV” that China’s domestic market cannot accommodate all 17 automakers currently operating in the country. It has been reported that during a post‑launch group interview — a clip shared by automotive blogger @42号车库 — Zhu said if Leapmotor keeps holding annual launches, “then we will have to work very hard,” signalling anxiety about growth and profitability even as the company expands its lineup. The A10 was priced at ¥65,800–¥86,800 at launch.

Survival, scale and a shrinking window

Zhu’s comments echo a tougher message he delivered last December at Leapmotor’s tenth‑anniversary event, where he said the company had survived a perilous first decade and faces only “a few years” of a NEV (new‑energy vehicle) window to capture market share. It has been reported that Zhu framed Leapmotor’s situation as barely past break‑even and under pressure to scale quickly — a familiar refrain among China’s EV startups as competition intensifies and consumer demand normalizes after pandemic‑era surges.

Exports and geopolitical context

Reportedly, Leapmotor disclosed that its 2025 export volume was 67,052 units, ranking first among China’s “new forces” exporters, and that cumulative exports topped 100,000 by February 2026; it also said it placed among the top three Chinese passenger EV brands across 29 European markets, ranking second in Q4. Why chase exports? Because domestic saturation forces firms abroad. But entering Europe and other Western markets brings geopolitical complications: Chinese EV makers now face heightened scrutiny over trade practices, subsidies and technology security, and could encounter regulatory or protectionist measures that complicate growth plans.

What next for the sector?

If 17 players are too many for the Chinese market, consolidation seems inevitable. Who will merge, pivot or fail? Leapmotor’s message is clear — survival will demand faster scale, deeper margins and successful international expansion. The question is whether the industry’s next few years will reward speed or simply accelerate winners and losers.