IT Home reported on February 20 that Geely Automobile Group announced today that its subsidiary Zhejiang Jirun and Geely Qizheng entered into an equity transfer agreement, according to which Zhejiang Jirun agreed to ** and Geely Qizheng agreed to purchase 45% of the equity of Ruilan Automobile, with a cash consideration of RMB 504,000,000 (5.).0.4 billion).
According to the announcement, after the completion of the ** event, the group will no longer own any equity in Ruilan Automobile, and it is expected that the group will record a ** event income of about RMB 117,000,000 (1$1.7 billion).
Founded on January 24, 2022, Ruilan Automobile is jointly funded by Geely Automobile and Lifan Technology, and is mainly engaged in the provision of battery swapping vehicles and services, with Lifan Technology and Geely Automobile Group owning 55% and 45% respectively.
*After the completion of the matter, Geely Automobile Group will no longer hold any interest in Ruilan Automobile; Ruilan Auto will be 55% owned by Lifan Technology and 45% owned by Geely Qizheng.
The announcement also pointed out that Geely Qizheng is mainly engaged in investment holding business, which is wholly owned by Geely Automobile Group.
Ruilan 7 Auto IT Home query found that Geely Automobile Group has removed the data of Ruilan Automobile in the January 2024 car sales report; In the December 2023 sales report, Ruilan Automobile's sales volume was only 3,900 units, a year-on-year decline of 66%, which is not in the same order of magnitude as other Geely brands.
Geely Automobile Group's January 2024 sales report
Geely Automobile Group's December 2023 sales report.