Shanghai Securities News China Securities Network News (reporter Confucius Ziyuan) Lifan Technology announced that the company intends to jointly invest with the related party Geely Automobile Holdings Co., Ltd. ("Geely Automobile") in the directly administered area of Liangjiang New District, Chongqing City, with a registered capital of 600 million yuan, and the company and Geely Automobile will each invest 300 million yuan in the form of monetary funds, with a shareholding ratio of 50%. The business scope of the target company is the design, research and development, and sales of complete vehicles (including accessories, parts processing equipment, and automotive decoration). After the target company receives the investment funds from both parties, for the purpose of developing, selling and operating the whole vehicle (including but not limited to the power exchange model) research and development, sales and operation, the investment funds will be mainly used for daily operations such as research and development, operation strengthening, market development, brand stability maintenance and other production and operation activities of the target company.
![Each investment of 300 million yuan / involving vehicle manufacturing and sales Lifan plans to establish a joint venture with Geely[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)