June 11, 2008 - The first batch of Lifan 520 cars have rolled off the production line in Kerman Motor Co in Iran, according to sources of Chongqing Lifan Industry (Group), a large private enterprise centering on the technology development, manufacture and sales of vehicles and motorcycles in China.
The Lifan 520 manufactured in the Iranian facility will continue to use Lifan brand and will target medium-income Iranians aged between 20 and 35. The selling price is fixed with a high price-performance ratio at $10,000 to $15,000. Kerman Motor Co plant is expected to produce around 5,000 units this year, a sales representative of Iran Lifan Group said.
Chongqing Lifan Industry (Group) and Iran Kerman Motor Co. signed deals on equipment sourcing and authorized completely knocked-down (CKD) agency early in mid-July 2007. Then, Lifan-brand vehicles were imported to Iran as CKD kits which were assembled and sold by Kerman Motor Co locally.
Up to now, Lifan Group has built five CKD assembly facilities in South-East Asia, West Asia, East Europe, Middle East, and East Africa. In the future years, Lifan will further expand with another five facilities in West Asia, West Africa, Middle-South America, South Asia and South Africa.