FAW to use Leapmotor EV platform for Hongqi models

Let’s start with FAW: Executives from both companies confirmed to Reuters that a future model from FAW’s premium brand Hongqi will be based on a Leapmotor platform. “We have finalised the partnership to jointly develop a model for overseas market,” Leapmotor CEO Zhu Jiangming told Reuters in an interview on the sidelines of this week’s Shanghai auto show. According to Zhu, series production of the new Hongqi model is scheduled to begin in the second half of 2026.

In early March, FAW and Leapmotor signed a memorandum of understanding, outlining a potential collaboration on new passenger car models – including the possibility of capital investment. However, at that stage, there was no mention of the Hongqi brand.

At the Auto Shanghai, Leapmotor showcased its mid-size saloon B01, built on its LEAP 3.5 architecture. The company also has a larger electric SUV, the C16, which is still based on the earlier LEAP 3.0 platform. According to an unnamed insider familiar with the deal, the upcoming Hongqi model is likely to adopt the SUV platform of the Leapmotor B10 – also part of the LEAP 3.5 generation. A fully electric version and a range extender (EREV) variant are reportedly in the works. While the Leapmotor B10 starts in China from the equivalent of around €12,000, the Hongqi version is expected to carry a significantly higher price tag due to its premium positioning.

Startup powers China’s oldest car brand

Either way, the agreement marks a major milestone for Leapmotor. Founded only in 2015, the EV startup has established itself as a profitable player in China’s fiercely competitive electric vehicle market, as noted by Reuters. Now, this young company could provide the technical foundation for a model bearing the Hongqi badge – China’s oldest automotive brand. Hongqi (which means ‘Red Flag’ in Chinese)has long manufactured limousines for the country’s political elite and has been repositioned by FAW in recent years as a premium brand. The fact that Hongqi is now turning to the platform of a ten-year-old company, rather than tapping into FAW Group’s in-house technology, is a striking development.

According to Hongqi’s chief designer Giles Taylor – who formerly led design at Rolls-Royce – the new model will look and feel like the other models in the Hongqi lineup. “The challenge with taking a platform from Leapmotor is making it into a cool, relevant, trendy, but good-looking Hongqi. It has to be Hongqi,” Taylor told Reuters. “I’ve got no problem taking the powertrain, but we apply a magic on top.”

The deal with Hongqi might only be the beginning. According to Reuters, Leapmotor is also in talks with Ferrari about a similar partnership to develop a new model based on its EV platform. A Ferrari underpinned by Chinese tech – such headlines may soon become reality.

That said, the potential Ferrari collaboration is still unconfirmed. The Italian brand has yet to respond to a request for comment. However, it is understood that Ferrari CEO Benedetto Vigna visited Leapmotor in February – a visit that, at the time, went largely unnoticed. Ferrari is currently developing its first electric vehicle independently. The as-yet-unnamed model is scheduled for launch in Q4 2025 and will be built at the company’s headquarters in Maranello.

reuters.com, leapmotor.com (statement from March; in Chinese)