Lifan shares: strategic layout for fuel-powered passenger vehicles

On April 15th, Lifan Industry (Group) Co., Ltd. (referred to as Lifan Co., Ltd.) announced that its subsidiaries Chongqing Lifan Passenger Vehicle Co., Ltd. (referred to as Lifan Passenger Vehicle) and Wuhan Taige Hydrogen Automobile Co., Ltd. The company (abbreviated as Wuhan Taige) and Chongqing Dida Industrial Technology Research Institute Co., Ltd. (abbreviated as Chongqing Dida) signed the 'Strategic Cooperation Agreement.' The purpose of this strategic cooperation is to enhance the research and development strength of hydrogen fuel power battery engines of the three parties, develop hydrogen energy passenger car products with superior performance, reduce processing costs, and promote the promotion and use of hydrogen fuel power battery engines. To this end, the three parties will cooperate in the following aspects: 1. Lifan Passenger Car will supply at least 2 vehicles (naked cars and related subsystems) for the hydrogen fuel cell power system project and the project-related vehicle technology integration team, Wuhan Taige supplied the hydrogen fuel power battery system to complete the physical installation of the vehicle and carried out relevant experimental verifications, striving to make the product enter the national hydrogen passenger vehicle publicity catalog; 2. Chongqing Dida provided Wuhan Taige with the necessary capital and technical support; 3 1. When necessary, Lifan Passenger Vehicles will provide Wuhan Taige Hydrogen Fuel Cell Engines with processing OEM services; 4. Leveraging the advantages of Lifan Passenger Vehicle sales channels, Lifan Passenger Vehicles will assist Wuhan Taige to promote hydrogen fuel power batteries Engine; 5. Wuhan Taige supplies hydrogen fuel cell engine products for Lifan passenger cars; 6. The three parties discuss capital cooperation in the hydrogen fuel cell engine project; 7. With the help of their respective technology and policy advantages, the three parties will unite in Chongqing Apply for innovative projects to further complete the development of hydrogen fuel electric vehicles and reach mass production status. From the perspective of the cooperation content, in addition to technical cooperation, Lifan Passenger Car also intends to cooperate with Wuhan Taige on the capital level in the field of hydrogen fuel cell engines. According to data, Lifan was established in 1992. It is a large-scale private company focusing on the research and development, processing, and sales (including export) of automobiles and motorcycles, and involving financial investment. In November 2010, the company was successfully listed on the Shanghai Stock Exchange, becoming my country's first private passenger car company to list A shares. In 2005, the state increased its support for the new energy automobile industry, and Lifan immediately established a subsidiary, Lifan Passenger Vehicle. The subsidiary integrates the internal resources of the parent company's new energy industry, and mainly operates the business of research, development, manufacturing, and sales of automobiles and accessories. Wuhan Taige was established in 2016. The company's main business is the research and development, sales, and technical services of hydrogen fuel vehicles and hydrogen fuel cell engines. The Ru0026D center established in Shanghai is led by Tiancai Ma, the deputy secretary general of my country Energy and Fuel Power Battery Industry Innovation Alliance, one of the 863 project leaders, and the doctoral supervisor of Tongji University. Other core technical backbones also have more than 10 years of Ru0026D related experience. The strength of the entire Ru0026D team is at the international first-class level, enabling the company to take a leading position in the research of fuel power battery power systems and hydrogen fuel vehicles. Some insiders speculate that this time, Lifan Passenger Vehicle will partner with Wuhan Taige to signal that it may include the hydrogen fuel vehicle sector in the company's strategic layout in the future. In this regard, Ren Yajun, assistant to the president of Lifan Co., Ltd., gave a clear answer: “Lifan is currently fully transforming to new energy. Hydrogen-fueled passenger vehicles will be an important part of Lifan’s new energy strategy in the future. This cooperation with Wuhan Taige , Is the company’s advance layout in the field of hydrogen-powered passenger vehicles, and it also prepares the technical reserves for our next launch of hydrogen-fueled passenger vehicles.' At present, there is still uncertainty about the detailed cooperation of this project, and the three parties still need to cooperate. Discuss further. Gaogong Hydrogen will continue to follow up and report on the progress of the agreement, so stay tuned.