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News

Lifan builds battery plants in Chongqing

3 July 2012
Chongqing-based Lifan Industry (Group), a manufacturer of motorcycles and cars, is to invest Rmb670m in battery plants and a new energy research institute.

Once completed in 36 months, the factories will produce 2m motorcycle batteries, 1.65m car batteries, 2m electric scooter batteries and 10,000 lithium battery units.

In 2011, the company made net profits of Rmb390m on sales of Rmb8.63bn. According to analysts, the manufacturer is experiencing declining profit margins due to fierce competition and higher raw materials prices and labour costs.

     
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