Leapmotor plans to join Series A funding of FAW subsidiary (updated)

Zhejiang Leapmotor Technology

17/09/2026 07:26

Adds tech cooperation deal with another FAW unit, context from paragraph 3
BEIJING, Sept 17 (Reuters) - Chinese electric vehicle maker Leapmotor 9863.HK plans to participate as a strategic investor in a Series A financing round for Qixin Power, a powertrain subsidiary of state-owned automaker FAW Group, FAW said in a statement on Thursday.
Under a letter of intent signed in the eastern city of Huzhou, Zhejiang province, Leapmotor and Qixin Power will explore strategic cooperation and resource sharing in powertrain products and technologies, including hybrid engines, electric drive systems and range extenders. 
Simultaneously, FAW's battery unit, China Automotive New Energy Battery Technology Co, signed a technology cooperation agreement with Leapmotor to jointly develop advanced battery technologies, including solid-state, lithium-rich manganese-based, sodium-ion and ultra-fast-charging lithium iron phosphate (LFP) batteries.
"The agreements mark a key step in FAW Group's transformation into a technology-driven company and its efforts to strengthen the new energy vehicle supply chain," FAW said.
The two companies will leverage capital and technology collaboration to deepen ties between a state-owned automaker and a private EV maker, it said.
In an earlier tie-up in 2025, Leapmotor struck a deal to supply an EV platform for a new model under FAW's premium Hongqi brand aimed at overseas markets, Reuters previously reported.
    
    
    

 (Reporting by Qiaoyi Li and Liz Lee; Editing by Thomas Derpinghaus and Louise Heavens)
 ((qiaoyi.li@thomsonreuters.com;))