Chinese vehicle brands are already the majority in the Ecuadorian market. As of September of this year, of the 117 vehicle brands available in Ecuador, 61 are Chinese, representing 52%, according to the latest data from the Chamber of the Ecuadorian Automobile Industry (Cinae). Leapmotor, founded in 2015, is the latest brand to enter the local market with an investment of $1.5 million and two 100% electric models. Arturo Cárdenas, general manager of Autofenix, the Ecuadorian company that imports and represents Leapmotor in Ecuador, reveals the brand’s plans and expectations in the country’s growing electric car segment.

With which models does Leapmotor enter the Ecuadorian market and how many more will come later?

Leapmotor arrives in Ecuador with two of its iconic models: the T03 compact car with four doors, with a range of 300 km and a power of 104 hp, at a price of 21,990 USD, and a family SUV, with premium equipment with a range of 500 km of autonomy and 302 hp power, at a starting price of $42,990. Leapmotor’s portfolio for Ecuador will expand in the first half of 2024 with five more models, perfectly adapted to the needs of the Ecuadorian market.

Chinese vehicle brands continue to land in Ecuador, where they already have a 52% market presence

What is involved in the Chinese brand’s $1.5 million investment to enter the local market?

An investment of $1.5 million will be allocated for Phase 1 of the brand’s rollout in Ecuador, which includes investment in dealerships and service workshops, Marketinglaunch, operations and cargo network.

What are the sales projections for the brand in 2023 and 2024?

By 2023, the brand hopes to meet the budget established for the initial period and the purpose of positioning the image of the brand and its outstanding features as an electric vehicle in the main cities of Ecuador. By 2024, sales projections should enable Leapmotor to achieve a market share of at least 10% in the segment of electrified vehicles.

The C11 is one of the two models with which Leapmotor entered the Ecuadorian market. For the first half of 2024, the Chinese brand, represented by Autofenix in Ecuador, plans to bring five more models, all 100% electric. Photo: Courtesy of Leapmotor

In which countries is Leapmotor present and what is its global sales volume from 2015 to date?

Apart from China, where it ranks third in the segment of 100% electric vehicles, Leapmotor is also present in important markets such as Greece, France, Turkey, Spain, Germany, Norway, Israel, Portugal, and soon also in Chile, Uruguay, Costa Rica and Mexico. Leapmotor has delivered 262,452 100% electric vehicles since launch.

Why did Leapmotor focus only on electric cars for the Ecuadorian market?

Leapmotor sees Ecuador as an ideal country for landing in Latin America, due to the policy of incentives for the import of electric vehicles, renewable sources of electrification, the size of the territory to establish a charging network and the strategic ally Autofenix, which has developed an important professionalism in managing this technology.

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How do you analyze the growth of the electric vehicle market in Ecuador? What are the expectations of the brand?

Electric vehicles are growing rapidly in all first world markets and consistently in the markets of the region, Leapmotor sees with certainty that the electric segment in Ecuador will grow exponentially through electric and hybrid drive models, therefore there is a great opportunity for the portfolio brand thanks to its outstanding equipment, performance and quality. These forces will enable him to field a significant number of units against his competitors.