China – On April 9, LIFAN Technology released its 2020 annual report: the company achieved an operating income of 3.637 billion yuan. Among them, motorcycle business achieved 2.562 billion yuan.

In 2020, LIFAN’s sales volume of complete motorcycle was 531,000 units; motorcycle engines were 854,700 units, up 5.70% year on year. Specifically, LIFAN launched KPV, K19, V16S for domestic market and ADV, 100-3R, 350-2 for overseas markets, which optimized the product structure to realize profit growth while successfully developed the Egypt and Colombia markets.

According to the annual report, LIFAN ‘s debt ratio in 2020 was significantly reduced, and LIFAN proposed a revenue growth target of more than 50% in 2021.

For its motorcycles business, LIFAN will implement the strategy of consolidating small-displacement models and expanding large-displacement models, creating leading models on V-twin and ADV scooters, and making key breakthrough in high power electric and intelligent products, to transform to “intelligent, electric” motorcycle business, providing international first-class motorcycle services for users.

In 2021, LIFAN will launch 8 new models (including 2 lithium electric motorcycles), and start to deploy high-end high-power electric entertainment products, including cooperation with foreign high-end brands. It is going to establish a motorcycle central control system, and develop a IoV platform integrating real-time monitoring, after-sales service, online shopping mall and social interaction to promote intelligence in product innovation. In addition, technologies of the battery, motor and controller will be the focus of electric motorcycle development.