Join us on

Lifan Industry Group Co.

Lifan Industry Group Co.

Industry: 
Automotive
Country: 
China
Contact Information: 
Sources: 

"When Mohammad Kolahi wanted to replace his French Peugeot sedan this year, the Tehran business consultant looked east instead of west. A friend was already driving a JAC J5, an Italian-designed four-door assembled in Iran for Chinese carmaker Anhui Jianghuai Automobile Co. Kolahi paid 570 million rials ($20,300) for an automatic-transmission version about a month ago -- or about 30 percent less than other comparable new cars he considered... As Western automakers prepare to re-enter the Middle East's highest-volume car market, they'll find a landscape changed by new competitors from China. Led by Chery Automobiles Co., Lifan Industry Group Co. and Jianghuai, the Chinese have benefited from the vacuum left by the likes of PSA Peugeot Citroen, which once counted Iran as its biggest market outside France. The Chinese will probably boost their share of the Iranian market from about 1 percent in 2011 to about 9 percent of 1.17 million units in 2016, according to researcher IHS Automotive... Chery, Lifan and Jianghuai all have local partners that build cars in Iran from kits shipped from China. Chinese companies' share of this segment also more than quadrupled to 8 percent between 2011 and last year, IHS estimates." (Bloomberg, "China Carmakers Will Challenge West in Iran When Sanctions Lift," 4/15/15)

--

"Chinese carmaker Lifan plans to produce 60,000 cars annually in Iran. Shang You, President of Lifan, said in a meeting with the managing director of Iranian carmaker Kerman Motor, it was decided that 60,000 cars to be assembled by the Iranian company in the next Iranian calendar year, which starts on March 21, Iran's Mehr news agency reported on Jan. 10. In line with the Iranian administration's policy, Lifan will move toward transferring the production of car parts to Iranian manufacturers, Shang You said." (Trend, "China carmaker plans to boost car production in Iran," 1/10/2015

--

"American International Group is likely to gain 'tens of millions of dollars' from the initial public offering of a Chinese automaker that does business with Iran, the South China Morning Post reported. AIG, through a unit, owns 13.5 percent in Chongqing-based Lifan Industry Group Co., which exports motorcycles to Iran and where a local factory has a licensing agreement to assemble Lifan's cars from imported kits, the Hong Kong-based English- language newspaper reported today, citing Mark Herr, AIG's New York-based vice-president of media relations." (Bloomberg, "AIG Will Gain from IPO of China Motor Exporter to Iran," 10/14/2010)