Saturday, March 11, 2006

China's Lifan to enter India


Chinese conglomerate, Chongqing Lifan seems to have finally charted out an entry strategy for the Indian market. The diversified group, which is among the largest motorcycle makers in the world, is planning to set up three joint ventures in India for making two wheelers, refrigerators/air conditioners and engines. According to sources, the company plans to assemble these products in India and each of the joint ventures will be with a different local partner. The company is in the final stages of signing an agreement with a leading North India based industrial house for its two wheeler joint venture.

The assembly unit for the two wheelers and engines will come up in Haryana. The company is expected to start by assembly of 125 cc and 150 cc bikes. Lifan has already received permission from the Foreign Investment Promotion Board (FIPB) to set up a facility in India. Further, Lifan has already been in talks with several local players to supply engines from its proposed unit.

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