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People's Daily Online>>China Business

Chery JV launches Qoros brand

By  Jin Jing  (Shanghai Daily)

14:36, November 29, 2011

The joint venture between China's Chery Automobile and Quantum LLC, an American subsidiary of Israel Corp, yesterday announced plans to launch its first model in 2013, aiming to grab a share of the global auto market with models plying the "Made in China" concept.

The mid-class sedan would carry the brand name of Qoros and target both China and west European markets. The product plan also includes a hatchback sedan and a sport-utility vehicle within two years after the first model is launched, followed by another electric vehicle.

A 150,000-unit car manufacturing plant is under construction in Changshu, east China's Jiangsu Province.

The 50-50 Chery-Quantum venture was set up in 2007 with a registered capital of 3.4 billion yuan (US$532 million) and was called Chery Quantum Auto.

The company yesterday unveiled its new name, Qoros Automotive Co.

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