Lifan to build new production base with half a billion dollars

• Source: Global Times
• [16:34 January 27 2011]
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Lifan Motors signed a contract with Chongqing Liangjiang New Area to build a production base for passenger cars at 3.5 billion yuan ($531 million).

The construction of the new production base is planned to be finished in a little over two years. The base will produce 200,000 mid- and high-end sedans, 50,000 new energy vehicles, 300,000 engines annually, realizing an annual output value of 25 billion yuan ($3.40 billion), creating 10,000 jobs for local people.