Lifan intends to establish a joint venture with Geely to promote industrial transformation

Recently, Lifan Technology announced that it intends to jointly invest in the establishment of a joint venture with Geely Automobile Holdings Co., Ltd., which has a registered capital of 600 million yuan, and the two parties will invest 300 million yuan each in the form of monetary funds, with a shareholding ratio of 50%.

According to the announcement, the joint venture company was established in the direct management area of Liangjiang New Area, Chongqing, and its business scope is vehicle design, research and development, and sales (including accessories, parts processing equipment, automotive decoration); import and export of goods, import and export of agents, import and export of technology; software development; technology development, technical services, technical consulting, and technology transfer.

At the same time, the joint venture company has set up a shareholders' meeting, a board of directors, a board of supervisors, etc., of which 6 members of the board of directors, Lifan Technology and Geely Automobile each appointed 3 directors members; the board of supervisors is composed of 3 supervisors, Lifan Technology and Geely Automobile each appoint 1, the other is the employee representative supervisor. In addition, the general manager, deputy general manager, financial leader and other senior management personnel of the joint venture company are nominated by Lifan Technology and appointed by the board of directors of the joint venture company.

In terms of business management, Geely Automobile will fully support the management and operation of the joint venture's car-making business, and rely on Geely Automobile's systematic advantages in the whole process of car-making, 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, and promote the transformation and upgrading of Lifan Technology's automobile industry. In addition, Geely Automobile and Lifan Technology will also coordinate travel companies and power exchange service companies to match models and reasonably create a power exchange network ecology.

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