Exclusive-China's Leapmotor to supply EV platform to Hongqi, also in talks with Ferrari

SHANGHAI (Reuters) -Leapmotor has struck a deal with Chinese state-owned automaker FAW to deliver an electric vehicle platform that will be used to drive overseas sales for Hongqi, an emerging national champion, executives from both companies said. Leapmotor, a profitable upstart automaker in China's crowded EV market, will supply the underpinnings for a new EV model to the country's oldest auto brand, which got its start supplying sedans for Communist Party leaders and emerged as a fast-growing premium brand in recent years. The agreement represents a win for Leapmotor, which has partnered with Stellantis and created waves with its recent rollout of an all-electric B10 SUV equipped with smart-driving features and lidar sensing technology for less than $18,000.