Lifan plans to raise RMB 2.48 billion in NEV segment

Chongqing (Shindary)- On May 6, Lifan Motors revealed its plan to issue no more than 261 million non-public stock shares to less than ten specified investors, aiming to raise a total of RMB 2.48 billion for the development of NEVs, including energy station project of intelligent NEVs, the project of intelligent NEV's 1.6GWh lithium battery cells, aa well as the R&D and debt repayment of new energy SUV models.

    Lifan stated that energy station's battery swapping service for intelligent NEVs is the automaker's new business mode. Since the price of electricity has dropped drastically, energy station will play a vital role in the development of new energy industry. Lifan's deployment in energy station will not only help NEV owners reduce the cost of electricity, but also will improve the efficiency of the nation's electric power resources. 

    Lifan posted PV sales of over 13,000 units in 2017. At the same time, Lifan realizes that it not only needs to consolidate the traditional business of fuel-powered vehicles, but also develop Lifan-characterized intelligent NEV industry. Lifan aims to shape a strategy covering intelligent NEVs, Internet-based energy provider and Internet Plus, which is an initiative proposed by China's prime minister Li Keqiang so as to keep pace with the information trend.

    By virtue of this raised funds, Lifan will build a complete intelligent NEV industrial chain for battery swapping mode, which is supported by technology R&D and core part manufacturing and takes energy station as its core.