Chongqing Lifan Automobile Co Ltd, the sedan-making arm of China's largest motorcycle manufacturer Lifan Group, said it expects to set up eight assembly plants in foreign countries before the end of next year.

The company said in a press release that it has already established three assembly lines in Russia, Vietnam and Egypt.

The automaker has set an export target of 15,000 vehicles for 2008, while it aims to boost its domestic capacity to 150,000 vehicles by the end of 2008, from 50,000 currently.