China’s Chery Automobile plans to build three more factories abroad

24 January 2007

Beijing, China, 24 Jan – Chinese car manufacturer Chery Automobile said Tuesday it planned to build three factories in the Middle East, Eastern Europe and South America to assemble its vehicles.

Feng Ping, deputy director of the company’s foreign division, said that Chery Automobile had begun negotiations with the governments of some countries in the second half of last year and added that those negotiations were still underway.

Some of the details that have yet to be decided are mainly to do with the level of local incorporation, she said.

Chery Automobile, which is headquartered in Wuhu in China’s Anhui province, already has seven assembly units in Russia, Egypt, Iran, Malaysia, the Ukraine and Brazil.

In 2006 the group sold 305,000 cars, 51,600 of which were sold abroad and the company’s export target for this year is 70,000 vehicles. (macauhub)