Geely Automobile (00175) announced that the company and Lifan Technology have entered into an investment cooperation agreement to establish a joint venture company, which will engage in the research and development, sales and operation of automobiles (including but not limited to tram replacement). As at the date of this announcement, the joint venture company has completed the industrial and commercial registration procedures and obtained the business license issued by the Market Supervision and Administration Bureau of Chongqing Liangjiang New Area, China, which is named Chongqing Ruilan Automobile Technology Co., Ltd. (Ruilan Automobile). In the future, Ruilan Automobile will launch a variety of power form products. Based on self-developed power exchange technology, Ruilan Automobile is committed to creating an intelligent power exchange ecology and providing competitive power exchange products and services for the market.
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