Qianli targets robotaxis, eyes IPO

Robotaxis are the flashy part of this story. But the real news is capital structure. Qianli Technology — the company formerly known as Lifan Technology — is trying to get a Hong Kong listing done while convincing investors it is no longer just a rescued Chongqing vehicle maker. The pitch is bigger: AI software, smart-driving systems, smart cockpits, and robotaxi operations bundled into one platform. That shift is why this listing is getting attention now. ### Why is the IPO the real event? Because the listing is not just fundraising — it is the public test of whether investors buy the reinvention. Qianli had already filed for a Hong Kong float in 2025, and by April 23, 2026 it had published a new HKEX listing-related announcement naming CICC and Morgan Stanley Asia as coordinators. Gasgoo says the company has re-entered the HKEX inquiry phase and is aiming for a dual A-share/H-share setup. (autonews.gasgoo.com) ### Why does the old Lifan name matter? Because this was not born as an AI company. Lifan went through a debt crisis and bankruptcy reorganization in 2020, then Geely and Chongqing Liangjiang New Area capital came in and rebuilt the business. The first phase was survival — battery-swapping models, supply chain support, basic industrial recovery. The second phase is the current one: rebrand the company, change management, and tell a software-heavy story. (static.cninfo.com.cn) ### What actually changed inside the company? Two things. Leadership changed, and the business map changed. Megvii founder Yin Qi joined as chairman in 2024, then the company officially rebranded to Qianli Technology in February 2025. At the same time, it formalized an “AI + Auto” strategy built around three lanes: intelligent driving, smart cockpits, and robotaxis. That is not a vague innovation slogan — those are now named operating priorities. (autonews.gasgoo.com) ### Why are robotaxis part of this? Because robotaxis let Qianli sell the highest-end version of its stack. A company that can run L4-style autonomous mobility needs perception, planning, cockpit software, fleet operations, and safety systems working together. So even if robotaxis stay small at first, they act like a proving ground for everything else the company wants to sell into Geely-linked vehicles and mobility networks. That is the strategic logic here. (autonews.gasgoo.com) ### Is this just a story, or is there spending behind it? There is real spending behind it. Gasgoo says 2025 R&D expense reached RMB 822 million, more than double the prior year, and research staff jumped from 791 to 2,456. The same report says the money is being directed heavily into intelligent-driving algorithms, smart cockpits, and robotaxis. In other words, the balance sheet is starting to match the branding. (autonews.gasgoo.com) ### But is the old manufacturing business still carrying it? Yes — basically, the legacy business is still paying the bills. Gasgoo says manufacturing remains the main revenue engine, covering new-energy vehicles, motorcycles, and components. Other market coverage built off the 2025 annual report says total revenue was about RMB 9.999 billion, while technology revenue was still a much smaller RMB 350 million. So the AI side is real, but it is still early. (autonews.gasgoo.com) ### So what is Geely really building here? Not just a robotaxi car. More like a shared intelligence layer. Qianli sits inside a broader Geely orbit, and the interesting move is to package autonomous-driving capability as a reusable platform that can feed consumer cars, premium brands, and mobility services. Robotaxis are the sharpest edge of that plan — but not the whole plan. (autonews.gasgoo.com) ### Bottom line? Qianli’s story is not “former Lifan wants to try robotaxis.” It is “a post-bankruptcy automaker is using a Hong Kong IPO to finance a full identity change into an AI-auto infrastructure company.” If investors believe that, the listing works as fuel. If they do not, robotaxis stay a slide-deck ambition. (autonews.gasgoo.com)