Lifan to build 2.2 billion yuan EV plant
Chongqing Lifan Industry Group Co., a private Chinese motorcycle and car manufacturer, plans to build a plant to produce electric vehicles in Jiyuan of north China's Henan province.
Total investment is estimated at 2.2 billion yuan ($354 million), the company said last week.
Lifan said the plant initially will build as many as 10,000 units a year, with annual output slated to rise as high as 100,000 units.
The EVs will be adapted from Lifan's three gasoline-powered nameplates: the Lifan 520, 330 and 320 compact sedans.
The company has yet to release a timetable for the plant's construction.
Lifan, headquartered in the southwest China municipality of Chongqing and listed on the Shanghai stock exchange, has developed two EV models based on its Lifan 620 compact car.
In the first quarter of this year, Lifan sold 30,916 gasoline-powered cars. The company's EV sales totals are unavailable.
Lifan said the plant initially will build as many as 10,000 units a year, with annual output slated to rise as high as 100,000 units.
The EVs will be adapted from Lifan's three gasoline-powered nameplates: the Lifan 520, 330 and 320 compact sedans.
The company has yet to release a timetable for the plant's construction.
Lifan, headquartered in the southwest China municipality of Chongqing and listed on the Shanghai stock exchange, has developed two EV models based on its Lifan 620 compact car.
In the first quarter of this year, Lifan sold 30,916 gasoline-powered cars. The company's EV sales totals are unavailable.
