MOSCOW, January 15 (Sputnik) — Chinese motorcycle and automobile manufacturer Lifan Group plans to build an engine assembly factory in Russia after 2021, the head of Lifan Motors in Russia, Sun Tszetszyun, told RIA Novosti.
According to him, Lifan plans further localization of manufacturing in Russia and intends to buy tires, car discs, seats and glass from local retailers.
In October 2014, Lifan signed an investment agreement with the administration of Russia's western Lipetsk Region and allocated $300 million toward the building of a new plant, with a production capacity of 60,000 vehicles a year, in a special economic zone there.
Amid Western sanctions imposed on Russia over the Ukrainian crisis, Moscow has significantly increased cooperation with Beijing, especially in the spheres of energy and business.
