# Geely Auto and Lifan Technology to form automobile joint venture in Chongqing

Geely Automobile Holdings and Lifan Technology announced plans to set up an automobile joint venture company in Chongqing, each investing RMB 300 million for a 50% stake, focusing on vehicle R&D, sales, and battery-swapping services.

- Type: Acquisition
- Announced: 2021-12-13
- Where: Chongqing, China, China
- Value: $94.0M (600.0M CNY)
- Status: announced
- Products: automobiles, battery-swapping vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Geely Automobile Holdings](https://endata.com/companies/27939.md) (partner)
- [Lifan Technology](https://endata.com/companies/59659.md) (partner)

## Sources

- [autonews.gasgoo.com](https://autonews.gasgoo.com/articles/news/geely-to-set-up-automobile-joint-venture-with-lifan-technology-70019332), 2021-12-13: "Lifan Technology, the holding company owning China’s named motorcycle brand, Lifan Motorcycle, announced today that it will be setting up an automobile joint venture company with major automaker, Geely Automobile Holdings Limited."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.