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August 22, 2014

CHINA: Lifan agrees to build plant in Russia

China's Lifan Industry (Group) Co Ltd said it has signed an agreement to build a vehicle assembly plant in Russia, as part of what the company says is its expansion strategy into global markets.

China’s Lifan Industry (Group) Co Ltd said it has signed an agreement to build a vehicle assembly plant in Russia, as part of what the company says is its expansion strategy into global markets.

The Chongqing-based automaker said its wholly-owned financial holding subsidiary, Singapore-based Lifan International (Trading) Pte Ltd, has signed an agreement with local authorities to invest USD 150 million in a new facility in Kaluga province.

Lifan makes a broad range of passenger cars, commercial vehicles and motorcycles. It already has a presence throughout in Asia, Africa, South America and Eastern Europe.

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