Chery to open 14 new overseas plants by
By Ally From:
Chery plans to open 14 new plants overseas and export 600,000
vehicles by 2010, according to Yin Tongyao, chairman and general
manager of Chery Automobile.
"Annual sales will rise to a million
vehicles by 2010 from 305,000 last year," Yin said.
In the first half of 2007, Chery
exported a total number of 52,712 vehicles, representing over 50
percent of China's total car exports.
Currently Chery Auto has seven assembly
plants in six countries and regions worldwide. The company has
made strategic decisions to build more plants overseas to boost
exports instead of relying solely on completely-built vehicle
In March Chery exported 10,000 vehicles
for single month, becoming China's first homegrown automaker to
reach this target.
Chery has begun to explore the East
Europe and Latin American market while primarily it only sold
vehicles in developing countries in Africa and Southeast Asia.
The company has also sought opportunities to cooperate with
local automakers in the North America and West Europe.
Chery will produce its one millionth
automobile on August 22, an important milestone in Chinese auto
Chery's recent activities:
At the end of last year, Chery signed a
deal with DaimlerChrysler's Group to produce small cars under
the Chrysler brand for export to global markets.
In another move, Chery unveiled plans
to build high-end vehicles in cooperation with Quantum of
Longmont, Colorado in May.