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Lifan Boosts in Power Battery Increasing 900Million Yuan Capital for Lithium Core Project

Published:2016-03-23Click:

Lately, Lifan Shares announced that the holding company Lifan Passenger Vehicle would make the capital increment of 900million Yuan with its funds in the hands of the localities to the wholly-owned subsidiary of Lifan Group Chongqing Wanguang New Energy Technology Co., Ltd. The Wanguang New Energy after capital increment moved into the high and new tech industry park in Liangjiang New Area, Chongqing, and plans to establish intelligent new energy auto 6 billion watt hour lithium core project.

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The capital increment is in favor of Wanguang New Energy to have better implementation of lithium core project, vitalizing the property and realizing the industry upgrading. Meanwhile, it avails to establish the company’s auto power lithium supply system and lower the purchase cost of battery.

Lifan Group released i.Blue 1.0 strategy (Intelligent Blue Strategy ) in 2015, having established the development from research, product, operation to financial service. As planned, Lifan will launch 20 pure electric and hybrid power new products before 2020 to realize the cumulative sales of 500,000 cars and establish 500 new energy stations. The battery of the car can be changed within three minutes since it is driven to the energy station. The energy station makes use of night radio wave valley period and trickle charge at constant temperature that battery life extends from three years to seven or eight years which makes obvious cost advantage.

In the meantime, in the purpose of accelerating the arrangement and establishment in new energy industry field, besides the power battery with power generation, Lifan is expanding the factory capacity in Ji Yuan and devotes to establish new energy auto energy station which has invested 1.3 billion Yuan in the project of intelligent new energy auto motor and electronic control, transmission and platform development.