Lifan to buy Brazillian BMW factory?
We at China Car Times have been hearing about Lifans attempts to buy the BMW factory out of Brazil for quite some time. The factory was set up by BMW and Daimler Chrysler in 1999 to make 1.4 and 1.6 engines for the South American market, Lifan also makes a 1.6L car so the two obviously go together perfectly, and if Lifan were to make its new range of cars then theyd have a whole engine making set up from the get go.
Lifan did try to purchase the BMW factory last year, however, the Brazilian government did not allow them to pull of a Nanjing MG trick and put the whole factory in boxes to be shipped to China and be reassembled at the Lifan factory. Lifan is no stranger to having overseas factories, in total it already has 18 factories outside of China but these are all producing motorcycles for various markets, Lifan only jumped in the car making game last year when it began to produce the Lifan 520 automobile.
We believe that Lifan are planning to IPO later this year on the Shanghai stock exchange to raise funds to further its car making ambitions.
Update: I havebad grammar