Gasgoo.com (Shanghai February 15) - Chongqing-based Lifan Group plans to increase annual production of passenger cars by 30,000 by 2013, a six-fold increase from its current production capacity.
The automobile and motorcycle manufacturer has already signed an agreement with the government of Chongqing to construct a new production site at Liangqiang New Area's Longxing Industrial Park in its home city. The manufacturer will invest 3.5 billion yuan ($531m) in the site, which will also be used for research, development and production of key auto parts, such as engines.
Lifan Motors was established in 1992, originally producing only motorcycles. In 2006 the company branched off into sedan production.
