Lifan to spend 670 million yuan on battery plant, tech center, r&d
Lifan Industry (Group) Co. plans to spend 670 million yuan ($105.9 million) to develop starter batteries and electric vehicle batteries, the Chinese Web site Gasgoo reports, citing the Shanghai Securities Journal.
Lifan will build a technical center and factory in Chongqing, the company said in a statement. Construction is scheduled to take three years.
The factory will make starter batteries for motorcycles and autos, and will have annual capacity of 10,000 lithium batteries for EVs.
Last year, Lifan said it had a deal to sell its first batch of electric cars to the administration of Shanghai International Auto City, an auto production base on the western outskirts of Shanghai. Lifan's electric sedan is based on the platform of its 620 compact sedan. The EV is powered by a lithium iron phosphate battery pack.
Lifan, which began as a motorcycle manufacturer, began producing autos in 2006. Its Chongqing plant builds compact sedans plus an SUV under its own brand.
Lifan will build a technical center and factory in Chongqing, the company said in a statement. Construction is scheduled to take three years.
The factory will make starter batteries for motorcycles and autos, and will have annual capacity of 10,000 lithium batteries for EVs.
Last year, Lifan said it had a deal to sell its first batch of electric cars to the administration of Shanghai International Auto City, an auto production base on the western outskirts of Shanghai. Lifan's electric sedan is based on the platform of its 620 compact sedan. The EV is powered by a lithium iron phosphate battery pack.
Lifan, which began as a motorcycle manufacturer, began producing autos in 2006. Its Chongqing plant builds compact sedans plus an SUV under its own brand.
