Leapmotor Tightens Grip on Thailand with New Subsidiary and Assembly Study

Leapmotor is moving deeper into Southeast Asia. The Chinese EV maker has established a fresh local entity, Leapmotor (Thailand) Co., Ltd., backed by registered capital of 100 million baht — roughly €2.6 million — as it shifts from an import-only model to direct management of its Thai operations. Until now, the brand relied on Phra Nakorn Automobile Co., Ltd. (PNA) as its importer and distributor; PNA will continue to operate as a dealer, running two Bangkok showrooms in Lat Phrao and Ratchayothin.

The new subsidiary is led by general manager Liam Liu, who frames Thailand as a market of strategic weight rather than a short-term sales opportunity. Liu points to Toyota’s decades-long footprint as a template, saying Leapmotor intends to build a presence spanning manufacturing through after-sales over the long haul. That ambition is already translating into feasibility work: a Chinese team is scheduled to visit Thailand in November to assess local CKD assembly, with four routes under consideration — contracting an outside manufacturer, forming a joint venture, purchasing an existing plant, or constructing a new one. Initial output would target 60,000 to 80,000 vehicles annually.

Financial backing appears secure. Liu says the board has signalled strong support for the Thai business plan and can clear budget requests within two weeks, citing a war chest that reflects confidence in new energy vehicle growth in the region. The product rollout has been methodical so far: the C10 mid-size SUV arrived in November 2024, followed by the B10 compact SUV in October 2025, with the pair accumulating about 450 deliveries combined. That number is poised to jump sharply — the company expects 3,000 to 5,000 sales between now and December, driven largely by the B03X small SUV launching on 31 October. At least two more models are planned for 2027, when the brand is targeting 10,000 annual sales.

Retail infrastructure is scaling in parallel. Leapmotor’s local consumer site lists 12 showrooms and service centres nationwide, with plans to reach 30 locations by the end of 2026, 65 in 2027 and 100 in 2028. The shift from third-party distribution to a wholly controlled subsidiary, combined with the assembly study, suggests Leapmotor views Thailand as a regional beachhead — a manufacturing and sales hub rather than merely an export destination.