Chinese NEV startups betting on new brands to chase sales growth By CAO YINGYING | China Daily | Updated: 2026-05-25 09:50

https://www.chinadaily.com.cn/a/202605/25/WS6a13aaf3a310d6866eb4a7ee.html Chinese new energy vehicle startups are rolling out multi-brand strategies to expand market coverage and improve profitability, but industry experts warn the capital-intensive push carries massive financial risks, with failed new-brand ventures potentially burning billions of yuan. Leapmotor Vice-President Li Tengfei confirmed plans for a second brand during an earnings call in mid-May. He revealed that the brand is expected to be unveiled at the end of this year or next year, with an official launch in the middle to latter half of 2027.