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The first Lifan car is expected to sell at around 80,000 yuan at the end of the year.
The first Lifan car is set to roll off the production line by the end of this year. Yesterday, Yin Mingshan, Chairman of Lifan Group, made the announcement at the Lifan sedan base in the northern new district. During the event, he revealed that the company aimed to achieve a production and sales volume of 1 billion yuan in 2010, and for the first time, he shared images of the prototype car. The announcement was made in front of the entire Lifan football team and journalists from Chongqing.
To boost team morale, Yin personally led the football squad to the production base in the northern new district. In a confident tone, he stated, “By around December this year, the first Lifan car will be off the assembly line.†He emphasized that the main infrastructure of the car base is now complete, with production equipment expected to be commissioned by September, followed by trial runs. Full-scale production is scheduled to begin by the end of December.
Yin also outlined the company’s long-term goals: “In 2008, we aim to reach 500 million yuan in production and sales, and by 2010, we expect to hit 1 billion yuan.†He drew a parallel between Lifan’s entry into the car industry and the strategies of companies like Honda and Suzuki, who expanded into the sedan market after establishing themselves in the motorcycle sector. Yin expressed confidence that Lifan could make a significant impact in the automotive industry.
The Lifan car base is located in the northern new district of Chongqing, covering 500 acres. The land use agreement was finalized in January last year. Lifan plans to build a facility capable of producing 100,000 cars and 100,000 engines annually. The sedan lineup includes two hatchback models and three sedan variants, targeting the economy segment. It is based on the BMW Mini 1.6-liter sports car platform. A prototype was developed earlier this year, and initial estimates suggested the price would be around 80,000 yuan. This marks a major step forward for Lifan as it expands its business beyond motorcycles into the competitive automotive market.