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Lifan plans US$ 5.4 million export centre in Chongqing
Automotive News China, 16 Aug '11
Chongqing Lifan Automobile will set a media source report said, citing a company press release. Lifan is expanding into overseas markets such as Brazil, where it has formed a joint venture with Brazilian auto dealer EFFA Motors. The venture will spend US$ 130 million to build an assembly plant and R&D centre there. The company also has small assembly plants in Russia, Vietnam, Iran, Ethiopia, Azerbaijan and Uruguay. In the first six months of 2011, Lifan sales rose 59 percent year-on-year to 95,666 units, according to the Chinese Association of Automobile Manufacturers.
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