25th October 2006
The Chongqing Lifan Industry Group Co. Ltd (Lifan) of China yesterday signed a Heads of Agreement with Ricardo plc to develop a new family of car engines and transmissions.
A signing ceremony, organised by UK Trade & Investment, was witnessed by Baroness Amos, Leader of the UK House of Lords, and Mr Jia Qinglin, the Chairman of Chinese People’s Political Consultative Committee (CPPCC) in London. The Heads of Agreement was signed by Yin Mingshan, Chairman of Chongqing Lifan Holding Co.Ltd, and Marcus Beresford, Chairman of Ricardo plc.
The initial focus envisaged for the collaboration is the design and development of a completely new family of engines of 800cc-2.4 litres, new transmissions, and support in manufacturing. The first contract is expected to be placed imminently.
Since its formation in 1991 the privately-owned Lifan has grown to achieve group export sales in 2005 of nearly US$300 million to 110 countries and regions. With its origins in the two-wheeler sector, the company has the capacity to produce 2.5 million motorcycle engines and 1 million motorcycles annually. In August 2003 Lifan announced an intention to enter the automotive sector and has now commissioned a new vehicle assembly facility on a greenfield site in Chongqing. In early 2006 Lifan went into production with its first
The Chongqing Lifan Industry Group Co. Ltd (Lifan) of China yesterday signed a Heads of Agreement with Ricardo plc to develop a new family of car engines and transmissions.
A signing ceremony, organised by UK Trade & Investment, was witnessed by Baroness Amos, Leader of the UK House of Lords, and Mr Jia Qinglin, the Chairman of Chinese People’s Political Consultative Committee (CPPCC) in London. The Heads of Agreement was signed by Yin Mingshan, Chairman of Chongqing Lifan Holding Co.Ltd, and Marcus Beresford, Chairman of Ricardo plc.
The initial focus envisaged for the collaboration is the design and development of a completely new family of engines of 800cc-2.4 litres, new transmissions, and support in manufacturing. The first contract is expected to be placed imminently.
Since its formation in 1991 the privately-owned Lifan has grown to achieve group export sales in 2005 of nearly US$300 million to 110 countries and regions. With its origins in the two-wheeler sector, the company has the capacity to produce 2.5 million motorcycle engines and 1 million motorcycles annually. In August 2003 Lifan announced an intention to enter the automotive sector and has now commissioned a new vehicle assembly facility on a greenfield site in Chongqing. In early 2006 Lifan went into production with its first