Lifan takes aim at American market

China Daily 30 May 2013
Chongqing Lifan Group, one of the largest domestic motorcycle and automobile producers, plans to enter the US market within five years through merger and acquisition activity.
“I want Lifan to be the best automobile and motorcycle company in the world,” said Yin Minshan, president of the group. “To achieve this, it is important for us to increase our presence in global markets, especially the US market, one of the most important and developed auto markets there is.”
He said that Lifan hasn’t entered the US market yet because it has been following a strategy of first growing international business in underdeveloped countries and regions.
Lifan works with more than 140 dealers in more than 160 countries and regions including Latin America, Southeast Asia and Africa. The group has set up five overseas factories in Thailand, Turkey, Ethiopia, Uruguay and Vietnam, with plans to open an auto plant in Russia this year.
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