American Insurance Group recently bought a rather large chunk of Lifan, 25% to be precise. The chairman of Lifan, then stated that Lifan will IPO later this year, raising a hell of a lot of money for investment in Lifan. Lifans chairman has outlined the international sales goals for Lifan over the next few years, which is basically, export, export, export, build many new factories!
On a serious note, Lifan plans by 2010 to produce 200,000 cars per year, 200,000 engines per year, and make cars that range from 30,000rmb to 120,000rmb, these will range from tiny economic cars to bigger mid range cars, including SUVs and MPVs for the Chinese markets. The overseas markets will also get a slice of the Lifan pie with Lifan planning on building 4 more factories, namely in Vietnam, West Africa, South Africa, and central South America.
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