Geely and Lifan established a joint venture company to jointly seek the road of new energy transformation

China Economic Network December 14 (reporter Guo Yue) yesterday, Lifan Technology (Group) Co., Ltd. (stock code: 601777; Securities abbreviation: Lifan Technology) announced that it intends to set up a joint venture with Geely Automobile Holdings Co., Ltd. each with a capital of 300 million yuan, with a shareholding ratio of 50% each.

Specifically, the business scope of the newly established joint venture company includes the design, research and development and sales of the whole vehicle (including accessories, parts processing equipment, and automotive decoration); Import and export of goods, import and export of agents, import and export of technology; Software development; As well as technology development, technical services, technical advice, technology transfer.

The announcement said that Geely Automobile will fully support the management and operation of the new joint venture's car-making business, and jointly promote the transformation and upgrading of Lifan Technology's automobile industry with Lifan Technology, relying on Geely Automobile's systematic advantages and professional capabilities in the whole process of car manufacturing, through fine management and industrial empowerment, integrate, improve and upgrade Lifan Technology's automobile R&D system, supply chain management, technology platform, sales channels and systematic full-manufacturing management program to achieve win-win development. Synchronously build a quality ecology of the whole value chain, ensure the quality of the whole process of R&D, manufacturing, supply chain, after-sales service, etc., implement the concept of "zero defects", focus on user needs, respond quickly, promote the construction of after-sales AAA service demonstration stations, improve service standards, and create user loyalty service quality. At the same time, it will join forces with Lifan Technology and integrate development to explore a new path for the transformation and upgrading of Lifan Technology's new energy manufacturing industry and high-quality development.

In addition, the two sides will also coordinate travel companies and power exchange service companies to match models, work together to build a power exchange network ecology, and promote the development of urban power exchange standardization. The new company will continue to develop and upgrade its vehicles to meet market demand and create more value for listed companies.