Lifan 320 to be produced in Russia next year

Shanghai November 30 (Gasgoo.com) Russian automaker Derways will start 2011 to assemble the Lifan 320 model, a five-door compact hatchback developed by the Chinese automaker Chongqing Lifan Industry (Group) Co., Ltd., a Russian media reported Tuesday, citing people with knowledge of the matter.

The Lifan 320 measures (LxWxH) 3755mm x 1624mm x 1435mm, with a 2340mm wheelbase, and is powered by a self-developed 1.3L engine (LF479Q3) capable of 65kw/6000rpm and 155km/h, sources said.

Derways, with an annual capacity of 100,000 vehicles, also produces and sells the Lifan 520 and 620 vehicles. Apart form that, Derways has manufactured vehicles for Great Wall Motors, Geely Auto, Chery Auto and Haima Auto, etc..

According to data released by Russia's EBA, Derways assembled 5,656 Lifan vehicles in the first nine months this year, and meanwhile boosted sales to 4,980 units, a year-on-year growth of 114%. Of the figures, Lifan 620, launched March 2010, accounted for 3,035 units. 

Derways said earlier that it plans to make 14,000 Lifan vehicles this year and to raise the number to 32,000 next year.

Separately, Chinese Premier Wen Jiabao and Russian Prime Minister Vladimir Putin announced November 23 a decision in bilateral trade between China and Russia, clarifying that both sides will no longer use dollars and trade settlement in local currencies as currency.

This policy has greatly enhanced Lifan vehicles' competitiveness in the Russian market, Tan Deqiang, assistant general manager of Chongqing Lifan Industry (Group) Imp. & Exp. Co., Ltd., recently said in an interview with Chongqing Commercial Daily.