Lifan Geely joint venture company - Ruilan Automobile completed registration

On the evening of January 24, Lifan Technology announced that on the same day, the joint venture company jointly invested and established by the company and Geely Automobile completed the industrial and commercial registration procedures and obtained a business license issued by the Chongqing Liangjiang New Area Market Supervision and Administration Bureau. Geely Automobile designated its wholly-owned subsidiary Ningbo Geely Automobile Industry Co., Ltd. as the main investment entity, the joint venture company name - "Chongqing Ruilan Automobile Technology Co., Ltd.", the domicile is located in No. 668, Jinshan Avenue, Yuanyang Street, Liangjiang New District, Chongqing, the legal representative Lou Yuanfa, the business scope includes auto parts research and development and sales, new car sales, new energy vehicle sales, new energy vehicle replacement facilities sales, etc. With a registered capital of 600 million yuan, the company and Ningbo Geely each accounted for 50%.

According to the "Investment Cooperation Agreement" signed by the two parties, Geely Automobile will fully support the management and operation of the 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-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 manufacturing management programs to achieve win-win development.

Synchronously build a quality ecology of the whole value chain, ensure the quality of the whole ring such as R&D, manufacturing, supply chain, and after-sales service, 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 target company will continue to develop and upgrade its vehicles to meet market demand and create more value for listed companies.

Lifan Technology said that this investment is conducive to promoting the transformation and upgrading of the company's automobile industry, focusing on the research and development, sales and operation of complete vehicles (including but not limited to power-changing models), promoting the rapid increase of product market share in passenger cars, and promoting the sustainable, healthy and stable development of the company's future business. (Wang Yi)