Lifan Industry Group Co.

In February 2016, "China's Lifan launched its 820 executive-sedan in the local market at the time for 820 million rials ($23,500) at that point. The introductory offer has since been rescinded, and the car sells for over 900 million rials." (Finacial Tribune, "Iran Auto Sector 2016: Playing for High Stakes," 1/1/2017). (https://financialtribune.com/articles/auto/56561/iran-auto-sector-2016-playing-for-high-stakes)

"Chinese carmaker Lifan plans to produce 60,000 cars annually in Iran. Shang You, President of Lifan, said in a meeting with the managing director of Iranian carmaker Kerman Motor, it was decided that 60,000 cars to be assembled by the Iranian company in the next Iranian calendar year, which starts on March 21, Iran's Mehr news agency reported on Jan. 10. In line with the Iranian administration's policy, Lifan will move toward transferring the production of car parts to Iranian manufacturers, Shang You said." (Trend, "China carmaker plans to boost car production in Iran," 1/10/2015 (http://en.trend.az/iran/business/2351784.html)

"American International Group is likely to gain 'tens of millions of dollars' from the initial public offering of a Chinese automaker that does business with Iran, the South China Morning Post reported. AIG, through a unit, owns 13.5 percent in Chongqing-based Lifan Industry Group Co., which exports motorcycles to Iran and where a local factory has a licensing agreement to assemble Lifan's cars from imported kits, the Hong Kong-based English- language newspaper reported today, citing Mark Herr, AIG's New York-based vice-president of media relations." (Bloomberg, "AIG Will Gain from IPO of China Motor Exporter to Iran," 10/14/2010)  (http://bit.ly/9VcxtF)

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