Shanghai, February 23 (Gasgoo.com) Chongqing Lifan Automobile Co will begin to launch its first minivan model next year, the Beijing Times reported Monday, citing an informed company source.
The upcoming minivan is likely to be powered by a 1.3L engine and will carry a retail price of 40,000 yuan ($5,853), according to the report.
The company started construction of a 1-billion-yuan minivan facility last July in Chongqing. This facility is set to achieve an annual output capacity of 150,000 to 200,000 units after production starts this September.
Lifan, which has made a name for itself as maker of motorcycles as well as truck and bus engines, began automobile production in 2006 in China responding to the then global demand for quality but affordable vehicles.
