China’s Lifan Group is prioritising its acquisition of Besiney in Uruguay and the establishment of its first overseas R&D centre in Brazil.
It will build a vehicle assembly plant in Uruguay after its purchase of Besiney. Products assembled at the plant will be exported to other markets in the region like Brazil, Argentina and Venezuela.
A Lifan spokesman said the company is establishing an R&D centre with Effa Motors in Brazil to adapt Lifan vehicles to the special requirements of the region.
The company also will invest US$100m with Effa to set up a joint venture and assembly plant in Brazil to assemble and sell Lifan vehicles with annual production of 10,000 units.