Geely Automobile (00175) and Lifan Technology established an automobile joint venture

Geely Automobile (00175) announced that the company and Lifan Technology entered into an investment cooperation agreement, and the contracting parties agreed to establish a joint venture company to engage in the research and development, sales and operation of automobiles (including but not limited to tram replacement).

The registered capital of the joint venture company will be RMB 600 million, which will be 50% owned by the company and Lifan Technology.