Lantu Automotive Acquires Wuhan Yunfeng Auto Factory for 723 Million Yuan

Recently, the Natural Resources and Urban Construction Bureau of Wuhan Economic and Technological Development Zone (Hannan District) announced that Lantu Automotive Technology Co., Ltd. has completed the acquisition of the Wuhan Yunfeng Auto Factory for a transaction amount of 723 million yuan. The Yunfeng Auto Factory, located on the 117M1 plot of Wuhan Economic and Technological Development Zone, was previously owned by Dongfeng Motor Group Co., Ltd. This factory serves as the core production base for Lantu's first global model, the Lantu Zhi Yin. The offline ceremony for the dual vehicles of Lantu Zhi Yin was held at this factory on August 26, 2024. The factory is equipped with five major processes including stamping and welding, and supports flexible production for both pure electric and hybrid models, with an annual production capacity of 150,000 units, which can be expanded to 300,000 units. Such production capacity and flexibility provide solid hardware support for Lantu's subsequent product layout and market expansion. From a market performance perspective, Lantu Automotive delivered impressive results in the first half of this year, with total sales reaching 56,128 units, an 85% increase compared to the same period last year. In June alone, monthly sales surpassed 10,000 units, reaching 10,053, a year-on-year increase of 83%. This series of data clearly reflects that Lantu Automotive continues to maintain strong growth in the increasingly competitive new energy vehicle market, with rising market recognition. Notably, the Lantu FREE+, which was officially launched in July this year, has seen explosive orders. As of July 17, Lantu Automotive officially disclosed that the cumulative orders for Lantu FREE+ have exceeded 20,000 units. Li Boxiao, Deputy General Manager of Lantu Automotive Sales and Service Co., Ltd., recently stated that due to the continuous influx of FREE+ orders and to ensure the production of upcoming new products, Lantu has initiated the second factory (Yunfeng Factory) and prioritized the production capacity of the first factory (Golden Factory) for FREE+. This acquisition and activation of the Yunfeng Auto Factory not only marks a significant move in Lantu's capacity layout but also represents a key step to meet market demand and accelerate development, demonstrating its determination to deepen its efforts and strengthen its position in the new energy vehicle sector.