Don’t panic if you’ve never heard of Leapmotor because nobody has. The Chinese company, which is partly owned by a former defense industry technician and part-owner of one of China’s largest video surveillance equipment manufacturers, was only founded in 2015. Still, just eight years later, it formed an alliance with Stellantis, the behemoth of an automotive business that owns Peugeot, Alfa Romeo, Chrysler, and many more. Just 24 months after that, it is knocking on Europe’s and Asia Pacific’s doors with a brace of cheap electric vehicles that are here to do one thing: undercut everyone else. The big cheeses...