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News Release from: Ricardo
Edited by the Engineeringtalk Editorial
Team on 25 October 2006
Chinese carmaker signs for powertrain
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Chongqing Lifan Industry Group of China has signed a heads of agreement with Ricardo to develop a new family of car engines and transmissions.
Chongqing Lifan Industry Group of China has signed a heads of agreement with Ricardo to develop a new family of car engines and transmissions The proposed collaboration between the two companies is aimed at providing Lifan with internationally competitive powertrain products and technologies to facilitate its continued expansion
This article was originally published on Engineeringtalk on 19 Nov 2001 at 8.00am (UK)
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The signing ceremony, organised by UK Trade and Investment, was witnessed by Baroness Amos, Leader of the UK House of Lords, and Jia Qinglin, the Chairman of Chinese People's Political Consultative Committee (CPPCC) in London.
The heads of agreement was signed by Yin Mingshan, Chairman of Chongqing Lifan Holding, and Marcus Beresford, Chairman of Ricardo.
Part of a major investment programme by Lifan, the initial focus of envisaged for the collaboration is the design and development of a completely new family of car engines of 0.8-2.4 litres displacement, new transmissions featuring technologies such as AMT and DCT, and support in the manufacturing implementation of these products.
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The first contract under the terms of this heads of agreement is expected to be placed imminently.
Since its formation in 1991 Lifan has developed rapidly to become one of China's most dynamic and successful industrial companies, with group export sales in 2005 of nearly US $300 million to 110 countries and regions.
With its origins in the two-wheeler sector, the company has the capacity to produce 2.5 million motorcycle engines and 1 million motorcycles annually.
In August 2003 Lifan announced an intention to enter the automotive sector and has now commissioned a new vehicle assembly facility on a green-field site in Chongqing, China.
In early 2006 Lifan went into production with its first passenger car, the Lifan 520.
Commenting on the appointment of Ricardo as its powertrain partner, Wang Yan Hui, President of Chongqing Lifan Passenger Vehicle, said: "This is a key strategic investment for Lifan as we move to develop our automotive business and expand both our market penetration in China and overseas".
"We chose Ricardo as our powertrain partner because of its extensive experience of designing and developing world-class engines and implementing them into production".
"We also have future requirements for advanced transmission systems and feel that Ricardo can offer Lifan a 'one stop shop' for both of these key areas of the powertrain".
Dave Shemmans, CEO of Ricardo, said: "Ricardo's expansion into the Asia, with this region's high automotive growth, is very exciting for the company".
"Lifan is a strong, ambitious organisation with plans to develop its automotive product range and export potential, and we are delighted to be working in partnership with this leading Chinese company".
"We believe this will be the start of a long, mutually beneficial relationship which draws on our skills in engines, transmissions and associated control and electronics technologies".
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