Leapmotor Establishes Huzhou Precision Manufacturing Subsidiary with RMB 210 Million to Expand into Auto Parts

Huzhou Lingsheng Precision Manufacturing Co. , Ltd. was recently established with a registered capital of RMB 210 million. Its business scope includes automotive parts, industrial robot manufacturing, and intelligent robot research and development. Equity penetration shows the company is wholly owned by Zhejiang Lingsheng Power Technology Co. , a subsidiary of Leapmotor. As of press time, Leapmotor had not responded to inquiries regarding the matter.

Leapmotor has previously laid groundwork for its robotics business. In early 2025, Leapmotor Chairman Zhu Jiangming revealed that the company had assembled a pre-research team of several dozen people for robotics. By the end of 2025, Zhu stated that investments in factory automation equipment must be recouped through labor cost savings within three years, otherwise the company would prefer to postpone them, emphasizing the need to balance investment and efficiency.

Multiple automakers are accelerating their robotics initiatives. BYD confirmed it will officially unveil a humanoid robot in August at its "Di Space" venue, marking its first public display of a physical prototype. XPeng Motors disclosed that its next-generation IRON humanoid robot has begun small-batch trial production at its Guangzhou factory, with the mass production line entering the final joint commissioning phase. According to incomplete statistics, as of the first half of 2026, nearly 20 major automakers globally, including Tesla, Mercedes-Benz, BMW, Volkswagen, Chang'an, SAIC, XPeng, GAC, and Chery, have entered the robotics space through self-development, joint ventures, or incubation.

The technological overlap between smart vehicles and humanoid robots exceeds 70%, with core components and supply chain ecosystems highly shared. As profit margins in the automotive industry continue to face pressure, some automakers view humanoid robots as a direction to open new growth curves and reshape valuation space. On the evening of July 25, Zhu Jiangming posted on social media that Leapmotor's latest market value was HK$51.6 billion (approximately US$6.6 billion), compared to Tesla's US$1.24 trillion market cap, making Leapmotor's value just 0.5% of Tesla's. However, in the first half of the year, Leapmotor's sales volume was 43% of Tesla's, and its sales in China have surpassed Tesla's, while its component self-sufficiency rate far exceeds Tesla's. This comparison highlights the starkly different valuation logic that capital markets apply to "automakers" versus "technology companies."

Robotics is still in the early stages of commercialization, with significant uncertainties around technological maturity, mass production costs, and the pace of application scenario expansion. Whether products can be brought to market and whether the business model can achieve a closed loop remain key factors determining whether robotics can boost automakers' valuations.