Multiple media outlets have reported that Yang Fang, the ex-CEO of Volkswagen (Anhui) Digital Sales Service Co., Ltd. (hereinafter referred to as "Volkswagen Anhui"), has taken on the role of Vice President and CEO Assistant at Leapmotor, reporting directly to Zhu Jiangming.

Public records indicate that Yang Fang previously served as General Manager of Chongqing Changan Automobile International Sales Service Co., Ltd. and held various positions at Changan Automobile, Ford Motor, and Avitar.

Volkswagen Anhui, a wholly-owned subsidiary of Volkswagen (China) Investment Co., Ltd., was officially established in Hefei in May 2022. The following month, Yang Fang joined as CEO, spearheading the launch of Volkswagen Anhui's inaugural model, the "Golden Logo Volkswagen" ID. series.

Yang Fang departed Volkswagen Anhui in April of this year to join Leapmotor's Strategic Operations Department, directly reporting to founder Zhu Jiangming.

Prior to Volkswagen Anhui, Yang Fang's career included stints as General Manager of Chongqing Changan Automobile International Sales Service Co., Ltd. and various roles at Ford Motor and Avitar. During his tenure as CEO of Avitar, he facilitated the company's first round of strategic financing, which saw its valuation skyrocket from an initial 810 million yuan to 6.26 billion yuan, marking a nearly sevenfold increase.

Some analysts speculate that Yang Fang's appointment might be tied to Leapmotor's expansion phase. In October 2023, Stellantis invested 1.5 billion euros to acquire approximately 20% of Leapmotor's shares, with the transaction closing in November of the same year. In May 2024, Leapmotor and Stellantis jointly established Leapmotor International, a joint venture with a 49:51 shareholding ratio. As their collaboration deepens, Leapmotor has achieved notable growth, with accelerated overseas expansion.

In terms of performance, Leapmotor recorded revenue of 32.16 billion yuan in 2024, a 92% increase year-on-year. The net loss stood at 2.82 billion yuan, compared to a net loss of 4.22 billion yuan in the same period last year. The gross profit margin improved from 0.5% in 2023 to 8.4% in 2024, notably achieving its first quarterly profit with a net profit of 80 million yuan in the fourth quarter.

Sales-wise, Leapmotor delivered 293,700 vehicles in 2024, representing a 103.8% year-on-year increase and surpassing its annual sales target of 250,000 vehicles. In the fourth quarter alone, sales exceeded 120,000 vehicles, averaging over 40,000 vehicles per month.

Regarding overseas expansion, by the end of 2024, Leapmotor International had established over 400 sales and after-sales service outlets globally, with more than 350 in Europe and nearly 50 in the Asia-Pacific, Middle East, Africa, and South America markets.

OFweek New Energy Automobile reported that in March, Zhu Jiangming, Chairman of Leapmotor, stated in a media interview that he anticipated Leapmotor International to establish over 550 sales outlets by 2025. Simultaneously, Zhu Jiangming expressed confidence that Leapmotor's sales would reach 500,000-600,000 vehicles in 2025, including an overseas sales target of 50,000 vehicles (13,000 vehicles in 2024).

Leapmotor further forecasts a gross profit margin of 10%-12% for 2025.