Financial Daily from THE HINDU group of publications
Friday, Nov 05, 2004

Cross Currency

Group Sites

Corporate - Alliances & Joint Ventures

Chinese co Lifan in talks for setting up bike unit in India

Neha Kaushik

New Delhi , Nov. 4

CHINESE mobike major Chongqing Lifan Industry is currently in negotiations with a few domestic companies to set up a joint venture to manufacture motorcycles in the country.

According to sources, players in the fray include a leading domestic auto components firm and two companies with current businesses unrelated to automobiles. Lifan's motorcycles manufacturing plant would be coming up in Manesar.

Sources said that Lifan had been close to finding a partner for the venture, but the process had been delayed with the company's plan to set up a wholly owned engine manufacturing unit in the country running into rough weather at the Foreign Investment Promotion Board (FIPB).

However, the proposal was cleared by the FIPB earlier this week. Lifan's motorcycle engine unit is coming up in Pune.

An official from Lifan had told Business Line earlier that the initial collective investments in both the plants would be to the tune of about Rs 250 crore.

The capacity at both the plants would be 100,000 units per annum each in the first phase. In addition to developing 125 cc and 150 cc bikes, Lifan also plans to subsequently make dual-wheel vehicles and motorboats at the plant.

More Stories on : Alliances & Joint Ventures | Two/Three Wheelers

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Essar Shipping to sell 5 tankers for Rs 1,150 cr

Jay Shree Tea seeks hike in subsidy on super phospates
Ford Fusion priced at Rs 6.2 lakh
Posco may relocate steel project if Orissa deal fails
ITC launches Sunfeast biscuit in Kochi market
Firms raise $1.5 b through ECBs in Sept
Lodha resigns as statutory auditor for Grasim
IDFC picks 20.6 pc stake in GSPL
Bengal promises full support for Jindal Steel project
Ashok Leyland mulls further capacity expansion
Inox Leisure plans to invest Rs 100 cr in phase II expansion
Chinese co Lifan in talks for setting up bike unit in India
Meso America, Polar Ware tie up for food service industry products
Tata Steel to tie up with Arcelor for flat products unit
Pennar Profiles to appeal against BIFR order
Alstom plans to expand Indian operations
GE Shipping to focus on offshore biz
Tecumseh India's exports touch 4 lakh units

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line