Chinese EV maker Leapmotor is making an aggressive push into Germany with the launch of its budget-friendly T03 city car, offered at a strikingly low lease price of just €49 ($58) per month. Backed by automotive giant Stellantis, the move is designed to attract cost-conscious drivers in Europe’s largest car market and capitalize on new electric vehicle subsidies.
The compact T03 enters the market at roughly half the monthly leasing cost of a Fiat 500, positioning it as one of the most affordable EV options currently available in Germany. Despite its low price, the car includes features such as a panoramic sunroof, rear-view camera, and six airbags as standard equipment.
Leapmotor’s strategy appears to be paying off. The company reported a 358% increase in sales during the first four months of 2026, with April sales in Germany more than quadrupling year over year. The rapid growth puts the brand on pace to challenge established automakers including Honda and Smart.
The expansion is being powered through a 51/49 joint venture between Leapmotor and Stellantis, combining Leapmotor’s EV technology with Stellantis’ deep understanding of European markets and distribution networks.