Chinese car and motorcycle maker Lifan Industry (Group) Co Ltd on Wednesday announced public recruitment of investors as a local court in Southwest China’s Chongqing municipality ruled to accept its bankruptcy reorganization.
Lifan currently has an annual output capacity of 150,000 complete motor vehicles and 300,000 automotive engines, while it also produces 1 million motorcycles, 1 million motorcycle engines and 1 million general gasoline engines every year.
The company’s production and operation have been deteriorating in recent years due to its less competitive products.