History
Lifan was founded by former political dissident Yin Mingshan in 1992, originally as a motorcycle repair shop with a staff of nine. Mingshan has a long history of conflict with governmental authorities of all stripes but currently enjoys a good relationship with the Chinese Communist Party.[7] The company was originally called "Chongqing Hongda Auto Fittings Research Centre".[8] Lifan had already become a major motorcycle manufacturer when it expanded into building buses in 2003.[9]
Becoming the fifth-largest Chinese motorcycle maker in only seventeen years,[5] the company was renamed Lifan Industry Group in 1997.[8] In 2003, Lifan acquired Chongqing Special Purpose Use Vehicle Manufacturing Co Ltd.[6]
2005 saw commencement of automobile production, beginning with the LF6361/1010 minivan and pickup based on the 1999 Daihatsu Atrai. In December 2005, Lifan's first independent development, the 520 sedan with a Brazilian Tritec engine, entered production.[9] Lifan's current automobile lineup (as of autumn 2011) consists of the subcompact 320, the compact sedan and hatchback 520, the slightly larger 620 sedan, and the X60 compact SUV.[10]
Lifan made an IPO on the Shanghai Stock Exchange in late 2010.[5] Several years prior, Lifan petitioned the Chinese State to allow the creation of more private banks, in order to allow better investment opportunities for privately run businesses.[7
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