Lifan Technology scores 8,704.67% YoY hike in Jan.-May NEV sales

Shanghai (Gasgoo)- Chinese automaker Lifan Technology (Group) Co.,Ltd. (“Lifan Technology”) announced this week that it sold 4,030 vehicles in May 2022, 2,419 units of which were new energy vehicles (NEVs).

In the same month, the automaker recorded a production volume of 3,106 units, which included 948 NEVs.

Compared to the previous month, Lifan Technology's auto outputs and sales in May surged 92.44% and 33.58% respectively.

For the first five months of this year, the automaker saw its cumulative production volume rocket 4,797.44% year on year to 5,730 units, while its auto sales also shot up 11,030.09% to 12,577 units.

Notably, the company's year-to-date NEV outputs and sales zoomed up 1,826.67% and 8,704.67% from a year earlier to 2,023 units and 9,421 units respectively.

For clarity, the NEV sales reported by the company consisted of the sales volumes of the vehicles produced and sold by Lifan Technology, Zhejiang Geely Automobile Company Limited, and Zhejiang Haoqing Automobile Manufacturing Co., Ltd.

Maple 60S; photo credit: Livan Automotive

The robust sales growth was partly thanks to the automaker's efforts to raise its fleet sales by leveraging the battery swap capability and the car-battery seperation purchase policy of its battery swappable vehicle models. Livan Automotive, its subsidiary jointly owned with Geely Auto, has secured mid-/long-term batch vehicle orders by signing strategic agreements with Wuchan Zhongda Yuantong Industrial Corporation and Cao Cao Mobility, the mobility service platform backed by Geely.