Lifan Technology’s Dec. NEV sales leap 61.4% MoM

Shanghai (Gasgoo)- Lifan Technology, a Chinese automaker backed by Geely Technology Group, output and sold 1,302 and 1,870 new vehicles in December 2021, representing 1,285.11% and 1,408.06% year-on-year (YoY) growth respectively, the company announced on Tuesday. Notably, NEVs accounted for 100% and 98.4% of the automaker's Dec. outputs and sales.

As of Dec. 2021, the company had scored month-on-month (MoM) growth in NEV sales for four consecutive months. The MoM growth rate in Nov. and Dec. stood at 117.97% and 61.4%.

Maple 80V battery swappable model; photo credit: Lifan Technology

The company said its full-year vehicle outputs jumped 50.88% YoY to 3,950 units, including 3,938 NEVs (+271.86% YoY). Meanwhile, Lifan Technology sold 3,862 new vehicles through 2021, 3,810 units (+258.42% YoY) of which were NEVs.

The company announced last month it intended to build a 50/50 joint venture with Geely Automobile Holdings Limited in Chongqing Liangjiang New Area. The joint venture is founded to operate businesses including the design, R&D, and sales of complete vehicles.

Geely Auto said it will offer resources and expertise in car manufacturing industry to fully support the joint venture in managing and operating car building business and help Lifan Technology promote industrial transition and upgrade.