Chinese carmaker Lifan has received the go-ahead from the government to set up an assembly plant in the Lipetsk Region.
The facilities will be put into operation by August 2017, with the payback period estimated at seven years. By 2023, Lifan plans to boost its share on the Russian market from 1.04 to 1.9 percent..
Lifan is expected to offer a broad range of sedans 650, 730, 820 and SUVs – X40, X50, X55, X60, X70 è X80.
The company picked the Lipetsk Region back in October and plans to invest up to US 300 million into the greenfield project.
Lifan Group is a large-scale private enterprise focusing on scientific research and development as well as manufacturing and sales of engines, general machinery, automobiles and motors, meanwhile being involved in finance, securities and real estate.
Starting from power system, Lifan Group has developed business portfolio that is focused on auto, motor and general machinery. By sticking to the development of self-owned brand, independent R&D and internationalization strategy, Lifan has achieved organic combination of entity industry and financial services.
Set sail in virtue of wind. Through a worldwide sales network, Lifan Group has its products sold to 165 countries and regions e.g. Asia, Europe, Africa, Latin America, etc., setting and maintaining the record of highest export volume among domestic peers for years. Lifan has received the greatest honor as "National Identity" of China, which made the enterprise one of the 100 well-known enterprises that represent China's 60-year economic development since the founding of the nation.
In 2013, Lifan Group achieved sales revenue of RMB 26.016 billion by selling 370,800 autos, 1,488,900 motors, 3,563,100 engines and 363,000 general machineries, and earned USD 865 million through exports. The subsidiary —— Lifan Industry (Group) Co., Ltd. was successfully listed in Shanghai Stock Exchange as the first private passenger car A stock listed in China.
Author: Mikhail Vesely