DEEPAL hits 700,000 vehicles in cumulative deliveries

Shanghai (Gasgoo)- DEEPAL, the new energy vehicle marque under Changan Automobile, announced on December 9 that its cumulative deliveries have reached 700,000 units. The achievement coincides with a major moment for its parent company, which has now produced 30 million vehicles since its founding — a milestone underscoring Changan's rise as one of China's largest auto groups.

DEEPAL's rapid sales growth has been fueled by an aggressive expansion of its product lineup. Since debuting the SL03 in 2022, the brand has rolled out the S07 in 2023 and added three more models in 2024 — the G318, L07 and S05 — pushing into both electric and range-extended segments. The momentum has carried into 2025, with the S09 and L06 joining the portfolio as the company positions itself for broader market coverage.

At this year's Auto Guangzhou 2025, DEEPAL chairman Deng Chenghao said the company had achieved profitability in certain months, marking an early breakthrough for a young brand that is still investing heavily in new products. His remarks echoed earlier comments from Changan's board secretary, who noted that DEEPAL would reach break-even at monthly sales of around 30,000 units — a threshold the brand has now consistently surpassed.

The company recently launched a new round of fundraising, listing on the Chongqing United Assets and Equity Exchange in preparation for bringing in strategic investors by the end of December. Under the plan, new shareholders will hold no more than 20% of the company. Proceeds will be directed toward vehicle development, intelligent and electrified technologies, and expanding DEEPAL's brand presence overseas.

Audited financial statements show that DEEPAL has been steadily narrowing its losses. Net profit improved from a deficit of 3.196 billion yuan in 2022 to 1.571 billion yuan in 2024, and further to 1.025 billion yuan in the first ten months of 2025. Over the same period, revenue climbed to 39.797 billion yuan, with total assets reaching 31.474 billion yuan — figures that reflect the brand's growing scale despite continued investment.

Industry data shows DEEPAL delivered 33,600 vehicles worldwide in September and 36,800 units in October, maintaining monthly sales comfortably above the 30,000-unit mark for several consecutive months.

The momentum has been driven by strong performances from key models. The S07 has remained a steady bestseller with monthly sales exceeding 10,000 units and a cumulative total above 300,000 units. The newly launched S05 made an immediate impact in September, becoming the top-selling pure-electric compact SUV with nearly 20,000-unit global deliveries in its first full month.

DEEPAL has laid out an ambitious global strategy, targeting overseas markets to contribute between one-third and one-half of the brand's total sales in the years ahead. The company aims to expand its footprint to around 90 countries and regions in 2025, with a sales goal of 56,000 units for that year. By 2030, DEEPAL plans to scale its global deliveries to 380,000 units, positioning the brand as a cornerstone of Changan's broader international push.