Extreme Group Completes LEAFCO Acquisition and Investment, Extending Automotive Presence

The Extreme Group has finalized its acquisition of LEAFCO, with the deal resulting in Extreme holding 51% stake in the automotive subsidiary. This marks the LEAFCO brand's transformation into an Extreme subsidiary, as 49% shares remain vested in Chery Automobile.

Since announcing the strategic integration plan for LEAFCO on November 14th, 2024, Extreme has executed this deal just three months later. As of today, the Extreme Group has announced its formal inception.

The group aims to boost its automotive presence through a dual-brand strategy, featuring an "Extreme + LEAFCO" lineup structure. This approach involves implementing a matrix organizational system emphasizing both brands, integrating manufacture systems and their supporting logistics, and constructing an AI-based unitary system for enhanced competitiveness.

Furthermore, Extreme has developed a unified management framework, with four primary focuses to initiate significant internal transformations – product development collaboration, manufacturing reform, customer engagement upgrade, and the utilization of intelligent technology. The product development plan anticipates a 15% increase in collaboration efficiency, along with an AI-driven system that aims for a 20% efficiency boost.

The Extreme Group will further intensify its R&D collaboration through product co-development, leveraging the integration to maximize cooperative effects, enhance product quality and reduce costs.

For 2025, the group aims to launch five new vehicle models, augment global market reach, and focus on supercapacitor-mix, full-chain AI, and domain-wide security. With a target for 71,000 units in sales this year, it aims to achieve a 40% surge compared to the previous period.

CEO of Extreme Group An Conghui stated: "Extreme's long-term vision is to become a leader in China's luxury electric mobility market. In the next two years, we will dedicate ourselves to transforming into a million+ dollar scale, globally-leading premium mobility company."

(Note: The translation might slightly alter the phrasing or the structure of some sentences due to cultural differences between Chinese and English.)