Lifan Group

Lifan Industry (Group) Co., Ltd.
Public company
Traded as SSE: 601777
Industry Automotive
Founded 1992 (Chongqing)[1]
Founder Yǐn Míngshàn
Headquarters Chongqing, China
Key people
  • Yǐn Míngshàn (Chairman)
  • Móu Gāng (牟刚) (President)
Products Commercial vehicles
Passenger cars
Microvans
Dirt bike engines
Motorcycles
Sports shoes
Wine
Number of employees
 13,653[2]
Website lifan.com
Lifan Group
Simplified Chinese 力帆实业(集团)股份有限公司
Traditional Chinese 力帆實業(集團)股份有限公司
Literal meaning "Great Sail" Industry (Group) Co., Ltd.

Lifan Industry (Group) Co., Ltd. (Lifan Group or Lifan,[3][4] Chinese: 力帆, lit. "Great Sail") is a privately owned Chinese motorcycle and automobile manufacturer headquartered in Chongqing, China. It was founded in 1992 and began the manufacture of automobiles in 2005, with license-built microvans and a small sedan developed by Lifan themselves.[5]

Lifan's vehicle products include passenger cars, microvans, dirt bike engines, entry-level motorcycles, mini-vehicles, and commercial trucks.[6] The company's non-vehicle-related activities include the manufacture of sports shoes and winemaking.[7] Outside of China, Lifan is currently best known for the sale of small passenger cars in emerging markets.

History

A Lifan truck, 2009

Lifan was founded by former political dissident Yin Mingshan in 1992 as a motorcycle repair shop with a staff of nine. Mingshan has a long history of conflict with government authority but currently enjoys a good relationship with the Chinese Communist Party.[7] The company was originally called "Chongqing Hongda Auto Fittings Research Centre".[8] The company was renamed Lifan Industry Group in 1997.[8] It expanded into building buses in 2003.[9] As of 2004, Lifan was being referred to as "the largest private motorcycle manufacturer in China."[10] In 2009, it as the fifth-largest Chinese motorcycle maker.[5]

In 2003, Lifan acquired Chongqing Special Purpose Use Vehicle Manufacturing Co Ltd,[6] and 2005 saw the start of automobile production beginning with the LF6361/1010 minivan and pickup based on the 1999 Daihatsu Atrai. In December 2005, Lifan's first independently developed car entered production, the 520 sedan with a Brazilian Tritec engine.[9] As of 2011, Lifan makes a number of consumer offerings including the subcompact 320, the compact sedan and hatchback 520, the mid-sized 620 sedan, and the X60 compact SUV.[11]

Lifan made an IPO on the Shanghai Stock Exchange in late-2010.[5] In 2011, Lifan's exchange-listed entity announced revenue of USD$1.83 billion, and profits of USD$62 million.[12]

Lifan entered into an agreement with Italian motorcycle manufacturer MV Agusta in July 4, 2014, to be MV Agusta's sole distributors in China. Lifan currently have a number of Agusta models on show at selected dealerships, including the F4 RR motorcycle.[13]

Founder Yin Mingshan and his family are worth USD1.3 billion as of 2014.[14]

Trademark dispute with Honda Motor

In 2004, Lifan was ordered to cease selling motorcycles under the brand name "Hongda"—the culmination of a successful lawsuit brought by Honda Motors.[15] That same year Honda initiated a separate suit against Lifan this time for using badges similar to Honda's on its motorcycle products.[10]

Products

Motorcycles

Current and former Lifan motorcycle products include:

Automobiles

Current and former Lifan automobile products include:

Lifan 320 
Lifan 520i 
Lifan 520 
Lifan 620 
Lifan 720 
Lifan X60 
Lifan X50 
Lifan Truck 

Operations

Production facilities

Lifan has two passenger-car assembly plants in China.[4][6]

Now boasting motorcycle production bases in Thailand,Iran, Turkey, and Vietnam,[1] Lifan first established a presence in Vietnam in 1999 that made motorcycles and parts.[17] Beginning in March 2007, assembly of the 520 sedan commenced in Vietnam.[6] By mid-2009, the 320, 520i, and 620 had also been built or assembled in this country.[18]

Overseas assembly factories make Lifan-branded automobiles sold to domestic audiences but are not necessarily affiliated with Lifan in any way.

Azerbaijan

In early 2010, Lifan established an automobile assembly factory in Azerbaijan.[19]

Egypt

Such assembly has occurred in Egypt.[1]

Ethiopia

From 2007 until 2010, the Lifan 520 was assembled in Ethiopia from imported knock-down kits under the name of "Abay" (Amharic for the Blue Nile)[20] by Holland Car Company.[21] Cars assembled in Ethiopia may now bear the Lifan name,[22] and an after sales service center for Lifan automobiles exists in the capital, Addis Ababa, as of 2010.[23] As of 2016, Lifan continues to produce in Ethiopia (perhaps without a local partner), assembling cars with native-born labor from knock-down kits.[24] Five different models can be made at the current facility, set up in 2014, and sales can total fifty cars a month at prices ranging from $15,000 to $30,000.[24]

Iran

Lifan was assembling cars in Iran around 2010.[25]

Russia

Assembly of automobiles in Russia began in August 2007,[6] and in early 2011, the 320 model became the third Lifan product to see local production.[26]

Uruguay

In 2010, a 40,000 units/year production capacity assembly plant was established in Uruguay.[25]

Research and development

At the end of 2006, Lifan held over 3,800 patents, the largest number of any Chinese automobile company,[1] of which at least 346 of were held by Lifan's automobile division.[6]

Sales

A Lifan 520 at a dealership in Chile in 2009

Access to profitable export markets, something the Chinese State allowed the company in 1998,[6] means that this maker of automobiles and motorcycles does what many Chinese automakers desire: it sells in developed overseas markets like the EU, Singapore and Japan.[6]

While finding more markets for its motorcycle-related products, Lifan has exported passenger cars to 51 countries.[6] In 2010, its automotive exports were rivaled by only Chery.[19] The company has sold in many countries and in every continent except Antarctica.[27]

Allowed access in 2003, Lifan motorcycle products are sold in 18 European countries.[1] The Italian importer Martin Motors rebadges and sells two small Lifan passenger car models under its own name.[28]

Lifan has sold motorcycles in Japan since 2001.[1] Lifan automobiles have been sold in Laos and Syria since 2009.[29][30]

Lifan motorcycles and dirt bikes are available in Canada[27] and Mexico. As of 2009, a single model was on offer in this country.[31]

Some small passenger car models are sold in Brazil,[32] Guatemala,[33] Peru,[34] and Uruguay.[35]

Some of the cars Lifan exports are in the form of knock-down kits.[25] Put together in small, local workshops, selling such kits is an easy way for the company to gain access to developing markets.

Sponsorships

Lifan was formerly the owner of the Chinese super league football team Chongqing Lifan; since 2005 it has been a sponsor of the team.

References

  1. 1 2 3 4 5 6 About Lifan Group Lifan Official Site (Web Archive)
  2. ↑ Lifan website
  3. ↑ "About Lifan Group". Official website of Lifan Group. Retrieved 2011-01-25.
  4. 1 2 China's Lifan Industry to debut in Shanghai this week reuters.com, Wed Nov 24, 2010 8:37am IST
  5. 1 2 3 Lifan IPO latest in quest for capital chinadaily.com.cn, 2010-11-29
  6. 1 2 3 4 5 6 7 8 9 Corporate profile Lifan official site
  7. 1 2 "The communist entrepreneur: Yin Mingshan shows how to make profits and political friends in China". The Economist. 2003-03-27.
  8. 1 2 Great Events of Lifan Group from 1999 to 2005 Lifan official site
  9. 1 2 World of Cars 2006·2007. Warsaw, Poland: Media Connection Sp. z o.o. 2006. p. 236.
  10. 1 2 "Honda, Lifan locked in trademark disagreement". chinadaily.com.cn. China Daily. 3 June 2004. Retrieved 25 May 2015.
  11. ↑ "Chinese Brands". ChinaAutoWeb.com. Retrieved 2011-09-14.
  12. ↑ Hu, Haiyan. "Rewards of the journey". China Daily. China Daily. Retrieved 24 May 2015.
  13. ↑ Hamilton, Jeremy. "Lifan Motorcycle Company Profile". ChinaMotorRider. Retrieved 24 May 2015.
  14. ↑ "#159 Yin Mingshan & family". Forbes. Forbes. Retrieved 24 May 2015.
  15. ↑ Inoue, Kae (24 Dec 2004). "Honda Wins Hongda Suit as China Cracks Down on Piracy". bloomberg.com. Bloomberg LP. Retrieved 25 May 2015.
  16. ↑ Saturday, April 24, 2010 (2010-04-24). "No, it's not a Mini...". Autocar.co.uk. Retrieved 2010-09-13.
  17. ↑ Factory in Vietnam Lifan Official Site (Web Archive)
  18. ↑ Lifan320, Lifan620 Landed in Vietnam Lifan Official Site, 9/9/2009
  19. 1 2 LIFAN MOTORS RANKED 2ND AMONG CHINESE EXPORTERS Lifan Official Site, 6/7/2010
  20. ↑ Blue Nile flows in Ethiopia ---- Lifan Motors in Ethiopia Lifan Official Site, 19/3/2009
  21. ↑ Official Launching of Lifan Wholly-owned Subsidiary in Ethiopia Lifan Official Site, 5/1/2010
  22. ↑ The First Batch Lifan Cars in Ethiopia From a Wholly Owned Subsidiary of Lifan Motors Offlined Lifan Official Site, 3/3/2010
  23. ↑ Vehicle Delivery & After-sales Service Station Launching Ceremony of Lifan Motors in Ethiopia Lifan Official Site, 15/4/2010
  24. 1 2 Asher, Zain. "Marketplace Africa (series)." CNN. CNN International. 10 April 2016.
  25. 1 2 3 Assembly Plant of Lifan Motors Settles Down in Uruguay Lifan Official Site, 6/4/2010
  26. ↑ "CHINESE AUTOMAKER LIFAN'S 320 STARTS PRODUCTION IN RUSSIA", Asia Pulse, Rhodes, Mar 23, 2011
  27. 1 2 Global Lifan > Global Network (image) Lifan Official Site (Web Archive)
  28. ↑ Chi Siamo Martin Motors Official Site
  29. ↑ Lifan Motors Launches in Laos Lifan Official Site, 25/11/2009
  30. ↑ The First 4S Store of Lifan Motors Opened in Syria Lifan Official Site, 3/6/2009
  31. ↑ Hermosa, Jessica Anne D. (February 4, 2009). "Lifan out to prove that China cars mean quality". BusinessWorld. pp. S1/9.
  32. ↑ Lifan Motors Brazil web site lifanmotors.com.br
  33. ↑ Lifan Landing in Guatemala, Full-scale Covering Mid-America Lifan Official Site, 6/7/2010
  34. ↑ Lifan320 Launches in Peru, Leading Popularity of LIFAN MINI Lifan Official Site, 13/5/2010
  35. ↑ Productos grupoaler.com
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