A report from the Financial Times Deutschland said today that Chinese automaker Chery Automobile Co. is planning to build a new 3-model range of passenger cars that will be engineered and developed with the help of industry mega-supplier Magna International. Chery will build the cars through its Chery Quantum Auto joint-venture with Israel Corp., 30-percent owner of electric-vehicle infrastructure specialist Better Place and aims to sell the compact cars in Europe, which to now has not been a friendly market for Chinese automakers.
The cars are to be built in China at an all-new assembly plant new Shanghai that has capacity for 150,000 units, the report said. The cars reportedly will be branded with the name Qoros and are planned to start at slightly less than $15,000 and range to about $20,000. The involvement of partner Israel seems to ensure some type of hybrid or electric powertrain options will be available. Engineering specialist Magna recently opened a research and development center in China, but there is no indication of when the first Qoros cars might be produced.
The cars are to be built in China at an all-new assembly plant new Shanghai that has capacity for 150,000 units, the report said. The cars reportedly will be branded with the name Qoros and are planned to start at slightly less than $15,000 and range to about $20,000. The involvement of partner Israel seems to ensure some type of hybrid or electric powertrain options will be available. Engineering specialist Magna recently opened a research and development center in China, but there is no indication of when the first Qoros cars might be produced.
