Gasgoo.com (Shanghai October 24) - Lifan Motors' factory will officially begin second-phase production at the end of the year, the Beijing News reported today. The manufacturer will see its annual production capability expand to 250,000 vehicles at that time.

Lifan's actual production ability is reported to only be 50,000 vehicles a year. However, the manufacturer manufactured 60,000 vehicles in the first half of the year, over double its average. The drastic disparity between supply and demand is evident in Lifan's overall performance. Lifan has invested a total of 426 million yuan ($57.92m) into developing production.

Another motivating factor behind the production expansion is Lifan's decision to increase is product line, with the all-new 720 sedan (pictured) set to hit the market next year. Meanwhile, Lifan's 820 minivan is currently in the process of research and development. According to Guan Fengjin, executive vice president, there is hope that Lifan's sales will exceed 130,000 vehicles this year.