(Yicai) June 12 -- Chinese electric vehicle startup Leapmotor Technology has opened its first showroom in Hong Kong, seeking to harness the city's status as an international financial center to speed up its global expansion.

The new store opened yesterday in the Cityplaza shopping mall in Taikoo Shing, with Leapmotor introducing to the Hong Kong market the right-hand drive versions of its two main overseas market offerings, the C10, a mid-sized electric sport utility vehicle, and the T03, an electric mini car.

These vehicles have been launched in 13 European countries since last September and have also entered markets in the Middle East, Africa, the Asia-Pacific region, and South America, the Hangzhou-based company said.

Even though Hong Kong's auto market is quite small, it plays an important role in Leapmotor's globalization efforts, as the city can provide a window for international investors to understand the company, founder and Chief Executive Zhu Jiangming told Yicai.

Leapmotor has more than 1,500 sales outlets worldwide, with over 900 in the Chinese mainland and the rest across 24 markets in Europe, the Middle East, Africa, and the Asia-Pacific, the firm said, adding that it plans a second Hong Kong store, which is slated to open in December.

The company has ranked first among Chinese EV startups for sales and exports so far this year. Its deliveries surged 148 percent to 45,067 last month from a year ago, bringing the total to 173,658 in the five months ended May 31, of which 10 percent were exports.

Leapmotor targets overseas sales between 50,000 and 80,000 for 2025, and plans to start producing in Europe by the middle of next year, Zhu said at the Shanghai Auto Show in April.

The firm’s net loss shrank 87 percent to CNY130 million (USD18.1 million) in the first quarter from a year ago, after revenue soared 187 percent to CNY10 billion (USD1.4 billion). It turned a CNY80 million profit for the first time in the fourth quarter of last year.

Editors: Dou Shicong, Martin Kadiev