# Chipmakers Extend Decline, Leapmotor Earnings

An episode of [Bloomberg Daybreak: Asia Edition](https://invisiblenetwork.ai/podcast/1663863437), 25 Aug 2026, 21 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/58e85be7-dbb5-4043-afed-af80014dc0b3/24fd5bf8-1059-4c77-939c-b4b1002ebcd5/audio.mp3?utm_source=Podcast&in_playlist=27143354-63aa-4ac5-965d-af80014dc0d3

Business and finance news from the Asia-Pacific. Asian equities declined as investors cut exposure to technology shares ahead of earnings this week that will test confidence in the artificial intelligence trade. The MSCI Asia Pacific equities gauge slipped 0.5%, with South Korean chip bellwethers SK Hynix Inc. and Samsung Electronics Co. contributing most to the decline. The losses followed a selloff in semiconductor giants on Wall Street that dragged the Nasdaq 100 Index down nearly 1% on Monday, while Nvidia Corp. posted its longest losing streak since 2022. We speak to Mark Cudmore, Global Leader of the Markets Live Team at Bloomberg News. Plus - Leapmotor posted reported a strong first half profit due to surging sales but the company's net income missed analyst estimates. Bloomberg's Yvonne Man and David Ingles spoke to Co-President Michael Wu. See omnystudio.com/listener for privacy information.

## Transcript

[0:00] Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Welcome to the Daybreak
[0:11] Speaker 1: Asia podcast. I'm Doug Prisner. There was a cautious tone
[0:14] Speaker 1: in trading of US equities in front of those earnings
[0:17] Speaker 1: from Nvidia that are due Wednesday after the bell.
[0:20] Speaker 2: Now.
[0:20] Speaker 1: You may recall last week we learned in Vidia had
[0:23] Speaker 1: worn some big customers of price increases on servers containing
[0:27] Speaker 1: in Vidia's AI chips. Now in the US, on Monday,
[0:31] Speaker 1: in Vidia shares were down for his seventh straight session,
[0:34] Speaker 1: losing two point nine percent. We also had the Philadelphia
[0:37] Speaker 1: Semiconductor Index dropping about two point seven percent. This morning.
[0:41] Speaker 1: In South Korea, we're seeing declines in both sk Heinez
[0:44] Speaker 1: and Samsung shares. For a closer look at the price action,
[0:47] Speaker 1: I'm joined by Bloomberg's Mark Cudmore. He is global leader
[0:51] Speaker 1: of our Markets Live Strategist team. Mark joining from the
[0:55] Speaker 1: Lion City of Singapore. Thank you for being here. Talk
[0:58] Speaker 1: to me about what you're seeing in this AI trade,
[1:00] Speaker 1: particularly as it relates to the chip stocks.
[1:04] Speaker 2: The R trade is getting a lot more complicated, and
[1:08] Speaker 2: what I mean by that is that for a macro
[1:10] Speaker 2: tourists like me, it's becoming much more important to do
[1:13] Speaker 2: your your kind of bottom up work and to really
[1:17] Speaker 2: differentiate between different sectors within the tech industry. In fact,
[1:22] Speaker 2: in the same way that like we took about fifteen
[1:25] Speaker 2: years to realize that the term EM you know, emerging
[1:29] Speaker 2: markets as an assa class no longer worked because the
[1:31] Speaker 2: divergences were too big. I think we're at the start
[1:34] Speaker 2: of that same process in tech where we kind of
[1:36] Speaker 2: still refer to the tech sector and in reality, you know,
[1:40] Speaker 2: the tech sector diverges massively. And I think, yes, their
[1:43] Speaker 2: session was it was a perfect example that, you know,
[1:44] Speaker 2: the really the biggest underformers and not performers were were
[1:48] Speaker 2: different sectors of the tech band overall. And so I
[1:53] Speaker 2: think that really applies to what's happening in the I trade,
[1:55] Speaker 2: so that the people who are doing best in this market,
[1:58] Speaker 2: which is why personally, why retailer doing so well well
[2:00] Speaker 2: this year, because retailer doing the bottom up work and
[2:03] Speaker 2: they're getting excited about the stories at different stages of
[2:07] Speaker 2: the AI theme rather than just being blanket going it's
[2:09] Speaker 2: an AI trade, I'm bullish, bearish, and that's not the
[2:12] Speaker 2: way you can look at it anymore. So I think
[2:14] Speaker 2: that's probably the biggest TAKEAWA At the moment, I think
[2:17] Speaker 2: the backdrop pictures, I am still in that we are
[2:21] Speaker 2: an incredibly massive AI capex bubble. We're still in the
[2:25] Speaker 2: inflation stage of that bubble, which is still bullish for
[2:27] Speaker 2: the broader market because it's pumping money into the system.
[2:31] Speaker 2: I still believe the AI capex bubble will collapse at
[2:34] Speaker 2: some point and that's going to have severe ramifications across
[2:38] Speaker 2: global markets and economic ramifications. It's important to emphasize that
[2:43] Speaker 2: the bubble is in capex, it's not a bubble in stocks.
[2:46] Speaker 2: In fact, the stock market, look at the macro environment
[2:49] Speaker 2: of stocks are still very bullish overall. Many stock markets
[2:52] Speaker 2: around the world are not expensive. So it's specifically a
[2:55] Speaker 2: capex bubble, but certain stocks will suffer horrendously when the
[3:00] Speaker 2: capex bubble ends. That's the backdrop picture, and then we've
[3:02] Speaker 2: now gone to the more volatile kind of end stage. However,
[3:05] Speaker 2: on that last I don't know many multiple months is
[3:08] Speaker 2: what's expected, and within that it's become a micro game
[3:13] Speaker 2: of bottom up differentiation.
[3:15] Speaker 1: Does that mean that the hyper scalers in your view
[3:17] Speaker 1: are most at risk right now in the cycle that
[3:20] Speaker 1: we happen to be in.
[3:21] Speaker 2: So I think the hyper scalers are probably some of
[3:26] Speaker 2: the most at risk from the AI capex bubble, which
[3:29] Speaker 2: is why people associate that, oh my god, when you
[3:32] Speaker 2: say I capex bubble, they immediately mistakenly think that's a
[3:35] Speaker 2: barish call. It's not. First of all, if you find
[3:38] Speaker 2: that one of the basic grills in markets is if
[3:39] Speaker 2: you find a bubble, run towards it and getting board. Now,
[3:42] Speaker 2: you obviously hope you get out as soon as it
[3:44] Speaker 2: pops or early on when it pops. But the point
[3:47] Speaker 2: is is that the whole point of bubbles is that
[3:48] Speaker 2: they see extraordinary gains. So, first of all, the hyper
[3:53] Speaker 2: scalers are associated with the capex bubble, which means that
[3:56] Speaker 2: I think people are kind of going, oh my god,
[3:58] Speaker 2: some point the capex bubble is going to burst. Now
[4:01] Speaker 2: when it bursts, the hyperscalers, uh, some of the hyperscalers
[4:05] Speaker 2: are very vulnerable because they're the ones that are pouring
[4:07] Speaker 2: money the other ones into this capex. They're the ones
[4:09] Speaker 2: who are like have gone from from these kind of
[4:12] Speaker 2: cash generating machines with so much free cash flow to
[4:17] Speaker 2: like just spending so much on building these data centers,
[4:20] Speaker 2: and they're borrowing more and more money to do it,
[4:21] Speaker 2: so they've completely changed their fundamentals, so they are the
[4:25] Speaker 2: most vulnerable. However, the reason I wasn't kind of asserting
[4:28] Speaker 2: that immediately they're the most vulnerable to the I capus
[4:30] Speaker 2: bubble collapsing is that's kind of priced in a lot
[4:33] Speaker 2: of these names, Like people have been been negative hyperscalers
[4:36] Speaker 2: for a while. Hyperscalers have underperformed much of the market
[4:39] Speaker 2: for a long period of time. So it depends what
[4:41] Speaker 2: your trading horizon is. You know, if you're like me
[4:44] Speaker 2: and you don't think the ikapus bubble collapses soon, then
[4:48] Speaker 2: I think people have got two bearish hyperscalers relative to
[4:51] Speaker 2: the rest of the market too early, and I think
[4:54] Speaker 2: that actually, potentially they can have a period of outperformance.
[4:56] Speaker 2: But if you're a long term investor, yeah, sure, you
[4:59] Speaker 2: don't want to you want to try trade in the
[5:00] Speaker 2: same game.
[5:01] Speaker 1: That's a nice segue into the story on Ali Baba
[5:04] Speaker 1: that we were discussing on Monday in the Asia region.
[5:08] Speaker 1: Ali Baba is looking to raise a little more than
[5:10] Speaker 1: ten billion US from a secondary offering and apparently these
[5:14] Speaker 1: proceeds will be used to invest in full stack AI capabilities.
[5:18] Speaker 1: Right now, this company is ratcheting up cap X to
[5:22] Speaker 1: nearly ten billion dollars. I understand how competitive this space
[5:26] Speaker 1: is and that you want to really fiercely defend your position,
[5:31] Speaker 1: but is Baba at risk of maybe getting a little
[5:34] Speaker 1: over at skis here.
[5:36] Speaker 2: I mean, it's the same kind of story as the
[5:38] Speaker 2: US HYPERSKEATTSIC, just on a much lower scale. And actually
[5:41] Speaker 2: I find again the Chinese names are probably they're they're
[5:46] Speaker 2: they're less you know, committed to quite the scale of Kopex,
[5:52] Speaker 2: and they're already much more discounted. So I'm I'm less
[5:55] Speaker 2: worried about them. I actually think on a longer term basis,
[5:58] Speaker 2: you know, these these companies define I don't have any
[6:01] Speaker 2: tactical view on kind of single names, but I think
[6:04] Speaker 2: the Chinese AI story is much better priced for the
[6:09] Speaker 2: longer term and therefore in a longer term whey, I
[6:11] Speaker 2: think it's a much better story.
[6:12] Speaker 1: So I want to get your views on what we've
[6:15] Speaker 1: been seeing play out in the US treasury market, particularly
[6:19] Speaker 1: since last week Treasury Secretary Besson unveiled a plan to
[6:22] Speaker 1: try to get longer term government bond yields at lower levels.
[6:26] Speaker 1: And he's going to do this. He's going to attempt
[6:28] Speaker 1: to do this through expanded buybacks of longer data government securities. Monday,
[6:33] Speaker 1: we heard from Bess and he said the Treasury has
[6:35] Speaker 1: yet to buy a single bond, and he kind of
[6:38] Speaker 1: I think, refrained from sending signals about revamping US debt management.
[6:44] Speaker 1: What do you see playing out in the bond market
[6:46] Speaker 1: right now and could that be problematic going forward?
[6:51] Speaker 2: So I think his kind of manipulation of the bond
[6:55] Speaker 2: market at the moment just to kind of squeeze some
[6:58] Speaker 2: kind of short positioning out there. It's you know, some
[7:00] Speaker 2: people have called it an Operation twist redocs. It's quite
[7:03] Speaker 2: pretty marginal in terms of amounts, and as as you
[7:06] Speaker 2: kind of point out there, you know, the first buyback
[7:09] Speaker 2: I think is September ninth, so it's still a couple
[7:11] Speaker 2: of weeks away. Ultimately, I think how this has been executed,
[7:17] Speaker 2: in my view, is that this was if you're gonna
[7:21] Speaker 2: intervene in the market, do it properly, like don't do
[7:25] Speaker 2: kind of a job that gets questioned and you have
[7:28] Speaker 2: to follow up with multiple interviews to kind of complain
[7:30] Speaker 2: that the market isn't getting the message. If the market
[7:33] Speaker 2: didn't get the message, then you didn't do a good
[7:34] Speaker 2: enough job. So I kind of feel that now that
[7:37] Speaker 2: he's kind of intervened in a half hearted way, he's
[7:41] Speaker 2: going to be forced to show his hand eventually. Now,
[7:43] Speaker 2: So my suspicion is that maybe before Sptember ninth, or
[7:47] Speaker 2: maybe even after that, people are going to go, you
[7:49] Speaker 2: know what, let's push it. Let's see they got Ultimately,
[7:51] Speaker 2: the treasure has got a lot of tools and if
[7:53] Speaker 2: they if they want to do things more more drastic
[7:55] Speaker 2: things they can do. But I think the market at
[7:58] Speaker 2: some point might might them forth their hand.
[8:01] Speaker 1: Well to your point, I mean we hear the term
[8:03] Speaker 1: debasement being tossed around a bit. One of the reasons
[8:06] Speaker 1: that maybe bitcoin has rallied about twenty percent since Besant
[8:11] Speaker 1: made those comments on doubling the size of buybacks, and
[8:14] Speaker 1: gold has been on a tear lately.
[8:15] Speaker 3: Too.
[8:16] Speaker 1: Do you view these trends as being still very much intact.
[8:20] Speaker 2: It's really interesting one because actually about a week or
[8:24] Speaker 2: so ago, like I was, actually essentially since the FMC,
[8:28] Speaker 2: which I where I thought Worsh's performance was quite disappointing,
[8:31] Speaker 2: and then followed up by Beson's you know, weird way
[8:34] Speaker 2: of intervening in the in the yen market. I said,
[8:37] Speaker 2: you know, we thought the debasement trades back, and I
[8:39] Speaker 2: think people got very excited about that. Now, one of
[8:41] Speaker 2: the things I'm I'm now kind of struggling is like
[8:43] Speaker 2: we need to differentiate between just dollar deppreciation and the
[8:46] Speaker 2: debasement trade. Because you know, we've had dollar can go
[8:49] Speaker 2: up and down. We've had that over many years. It's
[8:51] Speaker 2: not always a debasement trade. So what quantifies the debatement trade?
[8:54] Speaker 2: And one of the frameworks we're kind of looking at
[8:56] Speaker 2: is a debasement trade is when So first of all,
[8:58] Speaker 2: when dollar falls, gold and bitcoin are you know, valued
[9:02] Speaker 2: in dollar terms, so it's normal they go up when
[9:05] Speaker 2: dollars falling, it's it's are they outperforming expectations? I think
[9:08] Speaker 2: would be one aspect of it. I think for gold
[9:11] Speaker 2: in particularly, you know, so his performance adjusted, are you
[9:13] Speaker 2: seeing dollar fall when you're seeing front end yields rise
[9:16] Speaker 2: because that's not normal, So that suggests kind of a
[9:19] Speaker 2: little bit of debasement. And maybe are you seeing a
[9:21] Speaker 2: little bit of extra term premium in the curves. You've
[9:23] Speaker 2: seen a little bit of curve scheapness, So I think
[9:25] Speaker 2: there's some kind of the tick boxes for whether it's
[9:27] Speaker 2: debasement versus dollars appreciation as a general kind of idea,
[9:31] Speaker 2: like I am in the idea that we are in now.
[9:35] Speaker 2: You know, last year we had a big dollar down move,
[9:37] Speaker 2: then we've stalled for a long period of time. I
[9:39] Speaker 2: think that since the July f one CE we started
[9:42] Speaker 2: the next long term dollar down move, and I think
[9:46] Speaker 2: that's going to continue over the next six months. But
[9:47] Speaker 2: I think it's going to be very volatile because you know,
[9:50] Speaker 2: we've got a very interventionist treasury and they've got many
[9:54] Speaker 2: tools they can use to fight back.
[9:55] Speaker 1: Mark, it's always a pleasure. Thanks for making time for us,
[9:58] Speaker 1: Bloomberg's and Mark Cudmore, their global Leader of our Markets
[10:01] Speaker 1: Live Strategist team joining from Singapore here on the Daybreak
[10:04] Speaker 1: Asia podcast. Welcome back to the Daybreak Asia Podcast. I'm
[10:15] Speaker 1: Doug Chrisner. We move next to earnings from the Chinese
[10:18] Speaker 1: ev maker Leap Motor. The company reported a strong first
[10:22] Speaker 1: half profit due to surging sales. However, Leip's net income
[10:26] Speaker 1: missed analyst estimates, and we got some perspective from Leip's
[10:30] Speaker 1: co president Michael Wu. He spoke with Bloomberg TV host
[10:33] Speaker 1: David I Glase and Avon men I.
[10:36] Speaker 4: Believe this is the second straight six month period where
[10:39] Speaker 4: you are profitable, so momentum is certainly there. Just talk
[10:43] Speaker 4: us to the highlights for you, Michael.
[10:47] Speaker 3: Yesod morning David. This indeed has been our third six
[10:52] Speaker 3: month period with a profitability since first half of nineteen
[10:56] Speaker 3: twenty twenty five. For the past six month we have
[11:00] Speaker 3: indeed achieved quite a number of mile zones. Firstly, well
[11:05] Speaker 3: continue to deliver very strong units. You know, we have
[11:10] Speaker 3: delivered more than three hundred fifty six thousand units in
[11:13] Speaker 3: the first half and for the past five six five
[11:18] Speaker 3: month our monthly sales has been among the number four
[11:24] Speaker 3: among all the global new vehicle companies in terms of sales.
[11:29] Speaker 3: And also our market share by the end of June
[11:32] Speaker 3: has reached the five point seven percent in China. That's
[11:37] Speaker 3: up from four point two percent in the first quarter.
[11:41] Speaker 3: And so despite the industry wise pressure, we have done
[11:45] Speaker 3: well in the delivery of the units and also in
[11:49] Speaker 3: the first half, we have launched number of new vehicle
[11:51] Speaker 3: models which has been selling pretty well in terms of overseas.
[11:58] Speaker 3: Now the overseas sales in the first half has accounted
[12:02] Speaker 3: for twenty seven percent roughly. So in the first six
[12:05] Speaker 3: months we delivered ninety six thousand units, which is more
[12:09] Speaker 3: than the whole year of twenty twenty five. So for
[12:13] Speaker 3: the whole year we were targeting to achieve two hundred
[12:18] Speaker 3: thousand units exports in the overseas market, so that's selectly
[12:23] Speaker 3: up from our earlier targets. So overall it's quite balance
[12:31] Speaker 3: and a good quarter and a half of us. I'd
[12:35] Speaker 3: say we're on track in managing, delivering, our executing our
[12:40] Speaker 3: business models.
[12:44] Speaker 5: I guess the one sore spot, I guess what the
[12:47] Speaker 5: analysts are flagging is your gross margins, which did take
[12:51] Speaker 5: a bit of a meaningful dip in the first half here,
[12:54] Speaker 5: but you still guided higher thirteen to fourteen percent for
[12:57] Speaker 5: the full year, so you are employed in some way
[13:00] Speaker 5: some sort of margin recovery. What do you think is
[13:02] Speaker 5: going to be driving that?
[13:06] Speaker 3: Yes, the margin in the first half was under a
[13:10] Speaker 3: big pressure because as you know, the competition, some raw
[13:14] Speaker 3: material cost increase in the period. But the improvement will
[13:19] Speaker 3: come from increased sales volume in the second half and
[13:24] Speaker 3: all continued the cost cutting measurement from our R and
[13:28] Speaker 3: D and also our you know, balancing in the supply chain.
[13:33] Speaker 3: In new products, mix and cost cutting.
[13:40] Speaker 4: Okay, well, let's talk about deliveries then, and I think
[13:43] Speaker 4: we're flashing on the screens, Michael, this is the These
[13:46] Speaker 4: are the estimates I should not from analysts and not
[13:49] Speaker 4: the company. And you pointed out, of course your target
[13:51] Speaker 4: two hundred thousand overseas will you get Do you think
[13:55] Speaker 4: there's a chance that you get to a million vehicle
[13:58] Speaker 4: deliveries for the full year of twenty twenty Just help
[14:01] Speaker 4: us understand the volume scenarios here that the company is penciling.
[14:08] Speaker 3: Yeah, David, as you see on the chart, we're on
[14:11] Speaker 3: track in delivering that one million units. You know, in July,
[14:17] Speaker 3: as you just noted with delivered hundred to one thousand,
[14:21] Speaker 3: and from August to the rest of the year, we're
[14:25] Speaker 3: on the track of delivering more than hundred thousand units
[14:29] Speaker 3: per month. So when you add them up plus the
[14:32] Speaker 3: first half, we're very much achieving the one million units
[14:36] Speaker 3: for the year.
[14:39] Speaker 5: What gives you so much confidence? I feel like, you know,
[14:41] Speaker 5: it's great that you're hitting these milestones, Michael. What gives
[14:44] Speaker 5: you confidence that you can sustain this momentum?
[14:46] Speaker 3: Right?
[14:46] Speaker 5: What are you seeing domestically on the ground when at
[14:49] Speaker 5: a time when your macro picture seems.
[14:51] Speaker 3: To look pretty weak.
[14:52] Speaker 5: We've seen these price wars in the industry that really
[14:55] Speaker 5: kind of weigh on the sector. But what gives you
[14:58] Speaker 5: confidence for this recovery, you think, Michael.
[15:02] Speaker 3: Right, that comes down to our business model. You know,
[15:05] Speaker 3: Le Motors cars are ranged from sixty thousand R and
[15:09] Speaker 3: B to a three hundred thousand R and B and
[15:12] Speaker 3: with all our products offer the very good quality with
[15:17] Speaker 3: affordable prices, so that gives us a tremendous competitive advantage
[15:23] Speaker 3: and also we offer the customers the value. The reason
[15:27] Speaker 3: we can offer that kind of a competitiveness in the product,
[15:32] Speaker 3: it's also our integrated toward the integrated business model. You know,
[15:36] Speaker 3: we develop and manufacturer all of the key electronics components
[15:42] Speaker 3: plus some other components in the car where more than
[15:46] Speaker 3: sixty five to sixty five percent of the value of
[15:49] Speaker 3: the car. It's all in house developed, so that gave
[15:52] Speaker 3: us a tremendous amount of the flexibility but also cause
[15:56] Speaker 3: control ability. So we want to give that kind of
[16:01] Speaker 3: cost saving to the customers to provide the value to them.
[16:06] Speaker 3: So this is the same logic across all our car models.
[16:09] Speaker 3: So that's where we're confident our products will continue to
[16:13] Speaker 3: sell well and the region that sales targeted for the year.
[16:18] Speaker 4: Michael, do you want to see that percentage of what
[16:20] Speaker 4: you control within making your own in house components rising
[16:25] Speaker 4: over time? Given of course, to your point, we live
[16:27] Speaker 4: in a world where components are the bottleneck for many
[16:30] Speaker 4: many people in many companies. Do you need to raise
[16:33] Speaker 4: that percentage even higher? Are you happy where that stands? Currently?
[16:40] Speaker 3: We're actually in the process of making more and more
[16:42] Speaker 3: components in the house. Currently we're more than sixty five
[16:47] Speaker 3: percent value produced in the house. We're going to reach
[16:51] Speaker 3: seventy percent in about a year or two and eventually
[16:54] Speaker 3: increase that between seventy to eighty percent. So that's the
[16:58] Speaker 3: ongoing process. Obviously.
[17:03] Speaker 5: You know, we continue to watch the development of AI
[17:06] Speaker 5: and all this innovation that's really kind of emerging in
[17:10] Speaker 5: China now, I know, Michael, you guys are looking at
[17:12] Speaker 5: maybe even talking about robotics as well as part of
[17:17] Speaker 5: your sort of mode. According to what we've been hearing
[17:20] Speaker 5: as well, how do you see these sort of the
[17:23] Speaker 5: industrial side of things, the robotics side of really fitting
[17:26] Speaker 5: into your core business.
[17:27] Speaker 3: Now, Yes, indeed, we do have a robotics strategy which
[17:35] Speaker 3: is to develop that to to fit the industrial space first.
[17:42] Speaker 3: And then you know, between the eed cars and the robotics,
[17:45] Speaker 3: we pretty much share the similar set of supply chains,
[17:49] Speaker 3: similar capabilities in a lot of hardware and softwares. By
[17:54] Speaker 3: the way, Lemotor, in the first half we haven't made
[17:57] Speaker 3: a great progress in our a ton of striving algorithm
[18:02] Speaker 3: and development, so we have made a very strong progress.
[18:07] Speaker 3: In mid September, we will invite people, investors and media friends
[18:11] Speaker 3: to come to our company to experience our latest aid
[18:15] Speaker 3: US related capabilities. So these things plus other supply chains
[18:21] Speaker 3: in the EV industry is very much applicable to the
[18:25] Speaker 3: roadblock industry. That's why you see these two things are
[18:29] Speaker 3: naturally within the realm of companies that have ours Michael.
[18:37] Speaker 4: The overseas business is obviously part of the company's plans localization.
[18:42] Speaker 4: You know, your network in Europe South America is something
[18:46] Speaker 4: that you're prioritizing. Help us understand what the blueprint is currently.
[18:51] Speaker 4: How much do you want to see that your assets
[18:54] Speaker 4: outside mel and China grow?
[18:55] Speaker 3: Specifically, Yeah, our business and assets out that China is
[19:03] Speaker 3: all through working with our great partners, the Lentist Group.
[19:06] Speaker 3: In terms of localization. We're also making a very fast progress.
[19:12] Speaker 3: You know. By October this year we will mass produce
[19:17] Speaker 3: one of the models in our Spain factory, which is
[19:21] Speaker 3: also owned by Stalinists. So we work with a partner
[19:24] Speaker 3: to get the production in good shape and the next
[19:28] Speaker 3: year there will be the second model to be produced
[19:30] Speaker 3: in that same factory. And other regions, you know, in Asia,
[19:35] Speaker 3: weever identified several sites, one of them in Malaysia on
[19:40] Speaker 3: a smaller scale to produce locally and sell it locally.
[19:44] Speaker 3: And South America is one of our also strong regions,
[19:48] Speaker 3: so we have identified also one of the Stilantist factories
[19:53] Speaker 3: in Brazil to turn that into a manufacturing hub for
[19:57] Speaker 3: limotor cars.
[19:59] Speaker 1: That was Leap Motor our co president Michael Wou speaking
[20:02] Speaker 1: with Bloomberg TV host David and Glace and Yvonne Men
[20:05] Speaker 1: bringing you their conversation here on the Daybreak Asia Podcast.
[20:12] Speaker 1: Thanks for listening to today's episode of the Bloomberg Daybreak
[20:15] Speaker 1: Asia Edition podcast. Each weekday, we look at the story
[20:19] Speaker 1: shaping markets, finance, and geopolitics in the Asia Pacific. You
[20:23] Speaker 1: can find us on Apple, Spotify, the Bloomberg Podcast YouTube channel,
[20:28] Speaker 1: or anywhere else you listen. Join US again tomorrow for
[20:31] Speaker 1: insight on the market moves from Hong Kong to Singapore
[20:35] Speaker 1: and Australia. I'm Doug Chrisner, and this is Bloomberg

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