Incredible offer: Chinese electric car Leapmotor T03 can be leased in Germany for €48.90 per month
Chinese electric vehicle startup Leapmotor, which entered global markets, including Europe, thanks to a partnership with Stellantis and its dealer network, just announced record sales figures for the first half of 2026. Once you learn how cheap some of the company’s newest models are, this surge becomes completely understandable. In Germany, one of Leapmotor’s entry-level electric cars can be leased for just €48.90 ($56) per month, and no, that number is not missing a zero. That’s less than most people spend on a monthly mobile phone tariff, for a real car with a warranty.
Return of government subsidies
A few years ago, the German government canceled subsidies for electric cars, and sales dropped almost overnight. Incentives returned in January of this year, providing a discount of up to €6,000 ($6,800) on a new electric car for families with at least two children and a combined income of less than €45,000 ($51,500).
Thanks to this subsidy, many buyers may not have to worry about a down payment or delivery fee at all, focusing only on monthly payments. The Leapmotor T03, which sells for €18,900 ($21,600), now costs just €48.90 ($56) per month over a 36-month term, with an annual mileage limit of 10,000 km (6,213 miles). At the end of the lease, buyers can purchase the T03 for €11,139 ($12,700) or return the keys and look for something else.
Why is it so cheap?
While one could argue that a family earning less than €45,000 ($51,500) should not consider a new car but rather a used one, the ability to lease and drive it for just €1,760 ($2,010) over three years is an incredible deal.
“The extremely competitive price of the car has been made possible by Leapmotor’s high level of cost efficiency,” Leapmotor said in an interview with Nikkei Asia. “One of the key factors is the company’s extensive vertical integration. Additionally, the lease rate starting at €49 was made possible by German government incentives.”
Leapmotor sales surge
Some observers have suggested that Leapmotor is pricing the T03 so low to clear inventory, fearing that the compact EV may not comply with new EU regulations requiring camera-based driver assistance systems, advanced automatic emergency braking, and increased head protection zones for pedestrians and cyclists. However, a Leapmotor representative denied this, stating that the T03 complies with these new regulations.
In the first half of 2026, Leapmotor sold 356,487 cars worldwide, a 95% increase compared to the same period last year. June was particularly strong, with 93,376 models sold, also a 95% increase year-over-year. Since its founding, the company has sold over 1.55 million vehicles.
This aggressive pricing strategy by Leapmotor, combined with German government subsidies, creates a unique market situation. For families on a limited budget, this could be a real opportunity to switch to an electric car without significant financial outlay. At the same time, it’s worth considering that the low monthly payment is offset by mileage restrictions and the option to buy the car at a fixed price after the lease term ends. This makes the offer attractive for those who do not plan daily long-distance trips but want a new, modern car with minimal monthly costs. Leapmotor’s sales growth indicates that this strategy resonates with consumers, despite potential risks associated with new regulatory requirements.