China FAW and Leapmotor reach strategic cooperation

FAW and Leapmotor signed a Memorandum of Understanding on Strategic Cooperation in Changchun, aiming to strengthen technology integration and resource aggregation and enhance product competitiveness. The two parties will jointly develop new energy passenger vehicles and cooperate on parts, and explore the possibility of capital cooperation. FAW delivered more than 3.2 million units in 2024, and the Hongqi brand achieved positive growth for seven consecutive years. Leapmotor delivered nearly 300,000 units in 2024, and achieved positive net profit in the fourth quarter.