RUSSIA: Derways to assemble Lifan Mini look-alike
Russian automaker Derways plans to assemble the Lifan 320, a Mini look-alike, five-door compact hatchback developed by Chongqing Lifan Industry, next year, Russian media reported.
Derways, with annual capacity of 100,000 vehicles, also produces and sells Lifan's 520 and 620 models and has also assembled Great Wall, Geely, Chery and Haimamodels.
Derways assembled 5,656 Lifan vehicles in the first nine months this year, and boosted sales to 4,980 units, year on year growth of 114%. The Lifan 620, launched last March, accounted for 3,035 units.
Derways said earlier that it plans to make 14,000 Lifan vehicles this year and to raise that to 32,000 next year.
Chinese premier Wen Jiabao and Russian prime minister Vladimir Putin announced last week that China and Russia would no longer use dollars and trade in local currencies.
This policy has greatly enhanced Lifan vehicles' competitiveness in the Russian market, Tan Deqiang, assistant general manager of Chongqing Lifan, said in an interview.