Chinese electric automaker Leapmotor introduced its newly developed EV platform yesterday, called the “Four Leaf Clover.” At the same time, the company CEO reportedly announced plans to license the technology to its rivals in the auto industry.
For context, the automotive industry utilizes the terms “platform” and “architecture” to refer to the basic design of the EV in terms of weight, size, and key performance elements.
Four Leaf Clover details
Leapmotor’s in-house developed “Four Leaf Clover” technology has an incorporated computing platform that can regulate all smart features of EVs like autonomous driving and cockpit functions, as per CEO Zhu Jiangming.
The Chief Executive further noted that the automaker aims to offer the Four Leaf Clover platform to its competitors through technology licensing deals.
Interestingly, the Leapmotor boss also disclosed that the company is already in “advanced” negotiations with two unidentified foreign firms, including an EV startup that can potentially build Leapmotor’s models in global markets.
“We hope Leapmotor will not only be an EV brand but also a licensor of core technologies.”
Leapmotor CEO Zhu Jiangming
Leapmotor to launch the Four Leaf Clover’s next-gen version in 2025
Leapmotor’s senior engineer reportedly stated at an event in Shanghai that the new platform enables the company to cut costs by decreasing controls and wire harnesses usage.
CEO Zhu Jiangming claims this technology can reduce materials expenditures by 500 yuan ($70) per car. He further noted that the automaker aims to release the Four Leaf Clover’s next-gen model as early as 2025.
Notably, the Chinese automaker reported sales of about 44,500 EVs in Q1 2023, down 14% in the same period last year.
Leapmotor apparently allocated 11% of its overall revenue to its Research and Development efforts last year, indicating its commitment to offering innovative and smart technologies across its EV offerings.
See Also:
- Leapmotor raises up to $1 billion Hong Kong IPO
- Tesla to attend the IAA 2023 Show in Munich with its innovative EV models
- Tesla Model Y leads the Chinese all-electric SUV market in March
- Electric vehicle stocks surge in Hong Kong
- As sales decline, Chinese EV manufacturers rush to give huge incentives
Hopefully, the newly developed platform will aid Leapmotor in raising its EV sales and delivery this year after suffering a notable 14% YoY decline in the first quarter.
