On September 24, 2014, with firecrackers crackling and spluttering, Phylion’s third plant located in Suzhou Science and Technology City was formally laid foundation. The growth of Phylion reflects the development process of China lithium vehicles. Lithium electric bicycle market has finally emerged large-scale growth after ten years.
In the first half of 2014, the number of domestic lithium electric bicycle exceeded one million, double growth emerged in the industry. Domestic and overseas market of Phylion grew by leaps and bounds. Overseas sales grew of 2 times, domestic sales grew of 4 times. It is expected that in 2017, China lithium electric bike will reach 12 million scale, data from China Securities Daily. Therefore, Phylion decisively decide to increase the production capacity, to meet the breaking out market. The new plant is expected to be completed in July 2015, the existing production capacity will increase over 8 times.