China's Lifan set to make bikes in India this year
Chinese automobile and electronic goods conglomerate Lifan is all set to enter the Indian market with 125 cc and 150 cc motorcycles in the middle of the year.india Updated: Jan 19, 2004 17:41 IST
Chinese automobile and electronic goods conglomerate, Lifan, is all set to enter the Indian market with 125 cc and 150 cc motorcycles in the middle of the year. The company has also drawn up ambitious plans to unveil 250cc four-wheeler all-terrain vehicles and three-wheelers in a gradual manner over the next three years.
“We will be investing Rs 180 crore in our motorcycle venture to be established in Faridabad or Gurgaon. The Indian partner will hold 51% stake in the JV,” Lifan group vice general manager (import and export) Zhu Xiaoman said. Lifan officials, however, declined to disclose the name of the Indian partner.
He said the company would be assembling completely knocked down kits at a plant in Faridabad or Gurgaon. “We are confident of selling 80,000 units in the first year of operations with the first motorcycle expected to hit the roads by June this year,” he added.
The company plans to launch a new motorcycle every six months. The assembly plant has an initial capacity of 10,000 units a month. “Our products will be competitively priced and are expected to be 15% lower than the prevailing Indian products,” Lifan’s Indian representative R Chhibbar stated.
First Published: Jan 19, 2004 11:58 IST