Monday, May 20, 2024
ElectricGeely Establishes Joint Venture Ruilan Auto to Tap Battery-Swapping Market

Geely Establishes Joint Venture Ruilan Auto to Tap Battery-Swapping Market

Geely Auto Group announced on Monday that a joint venture company it established with Lifan Technology has completed industrial and commercial registration procedures and officially settled in the Liangjiang New Area in Chongqing. The joint venture is called Chongqing Ruilan Automobile Technology Co., Ltd. (“Ruilan Auto”).

In October 2021, CEO of Geely Auto Group Gan Jiayue, proposed for the first time to launch a new “battery-swapping EV brand” at the “Smart Geely 2025” strategy conference. In December 2021, Geely Auto and Lifan Technology jointly announced that they would each invest 300 million yuan to set up a joint venture company.

Ruilan Auto will launch a variety of power-train products in the future. Based on its self-developed battery-swapping technology, the firm is committed to creating an intelligent battery-swapping ecosystem and providing competitive battery-swapping products and services.

In the field of car-hailing services, “low operating costs” and “power saving” are the main focuses of Ruilan Auto, with the battery-swapping technology saving time and effort for users, improving operational efficiency.

Subsequently, based on a GBRC (Global Battery Rapid Change) platform, Ruilan Auto plans to cover cars, SUVs, MPVs, and even logistics vehicles and light trucks to meet the needs of different markets. Starting from Chongqing, the battery-swapping stations will be expanded in key cities across China, as the company strives to achieve its goal of operating 5,000 intelligent battery-swapping stations worldwide by 2025.

Geely Auto already owns a series of electric vehicle brands, such as Zeekr. The total sales volume of Geely Auto in 2021 was 1.328 million vehicles, an increase of about 1% year-on-year.

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