Chinese car manufacturer Chery may enter Brazilian market in 2008

16 August 2007

Sao Paulo, Brazil, 15 Aug – Chinese car manufacturer Chery may begin producing its cars in Brazil as of the end of 2008, according to Brazilian automotive sector sources.

Chery currently has a production line in Uruguay.

The Chinese car factory is expected to reach a production target of 1 million vehicles on August 22.

Chery launched its business in December 1999 and in March 2006 it reached production of 500,000 units.

The Chinese manufacturer is this year expected to produce 400,000 units and 600,000 units in 2008 after opening its third factory in China.

Chery developed the first engine manufactured by an independent Chinese company, the ACTECO, and created a number of modern mechanical platforms to work on a large scale, which allowed the manufacturer to design its own models.

The success of Chery led to its acquisition of Korean company Daewoo which led to the production of several new compact models. (macauhub)