On June 19th, Lifan Group and its subsidiary Lifan International and Chongqing Liangjiang New District administration committee signed the cooperation framework, including establishing New Energy Automobile (Chongqing) Investment and Development Co., Ltd., setting up New Energy Automobile Industry Development Fund and investing Lifan Smart New Energy Automobile Lithium Battery Project. The above contract signing indicates the new energy strategy of Lifan Shares is carrying out step by step.

In light of the contract, New Energy Automobile (Chongqing) Investment and Development Company is jointly invested and established by Liangjiang Development and Investment Group, Lifan International and Sokon Industry Group. And the company wholly invests in New Energy Automobile Lease Finance Company, participation in establishing New Energy Automobile Industry Development Fund.

Lifan Smart New Energy Automobile Lithium Battery Project plans to invest about 1.5476 billion Yuan, with planning coverage of 291mu. Lifan Shares or its subsidiary will develop new projects as the subject of implementation in Liangjiang New District. The project mainly takes up the technical research, product development, production line establishment and product sales of lithium battery. New 10 lithium battery production lines will be established, which will realize the capacity of producing 6 billion watt hours smart new energy automobile lithium battery.

Lifan Shares said, above strategic cooperation conforms to the philosophy and development direction of Lifan new energy strategic plan i. Blue 1.0, which can guarantee the leading strategy has further implementation. Meanwhile, it also provides stronger guarantee to the extending of Lifan industry chain and the promotion of comprehensive competitiveness.