Leapmotor Aims to Break Even This Year With Overseas Sales Push

Zhejiang Leapmotor Technology Co. aims to break even this year after managing to narrow losses in the first quarter, helped by more electric vehicle shipments overseas.

The company’s first-quarter loss shrank to 130 million yuan ($18 million) from 1 billion yuan a year earlier, while its gross margin reached a record high of 15%, according to an exchange filing Monday.

Leapmotor said it had the largest export volume among the emerging auto brands in China, shipping 13,632 units abroad from January to April. It delivered a total of 87,552 vehicle in the first quarter, beating the 84,895 analysts expected.

“We ...