Lifan to launch 20 EVs, hybrids by 2020
Chongqing Lifan Industry Co., a private Chinese producer of light vehicles and motorcycles, plans to roll out 20 new electric and hybrid vehicles by 2020.
Over the next five years, the automaker aims to sell 500,000 so-called green vehicles, said Chen Wei, Lifan's chief engineer.
Chen disclosed Lifan's plans at an industry conference last week in Chongqing, in southwest China. He did not provide additional details about Lifan's plans for EVs and hybrids.
To enable customers to recharge EVs, Chen said the company will build 13 battery swap stations this year in Chongqing, Shanghai and the north China province of Henan.
In 2016, the company will start building battery swap stations in other major cities. By 2020, Lifan aims to have 500 stations across China.
To finance vehicle development and build the battery swap stations, Lifan plans to raise 5.2 billion yuan ($839 million) by issuing additional shares through the Shanghai exchange, where it is listed.
In September, Lifan began selling its first EV, a variant of its gasoline-fueled Lifan 320 compact sedan. The company also has developed electric versions of the Lifan 330, 520 and 620 compact cars.
Lifan, headquartered in Chongqing, sold 135,468 gasoline-powered cars last year, up 19 percent. The company did not release EV sales data.
Chen disclosed Lifan's plans at an industry conference last week in Chongqing, in southwest China. He did not provide additional details about Lifan's plans for EVs and hybrids.
To enable customers to recharge EVs, Chen said the company will build 13 battery swap stations this year in Chongqing, Shanghai and the north China province of Henan.
In 2016, the company will start building battery swap stations in other major cities. By 2020, Lifan aims to have 500 stations across China.
To finance vehicle development and build the battery swap stations, Lifan plans to raise 5.2 billion yuan ($839 million) by issuing additional shares through the Shanghai exchange, where it is listed.
In September, Lifan began selling its first EV, a variant of its gasoline-fueled Lifan 320 compact sedan. The company also has developed electric versions of the Lifan 330, 520 and 620 compact cars.
Lifan, headquartered in Chongqing, sold 135,468 gasoline-powered cars last year, up 19 percent. The company did not release EV sales data.
