In Reply to: because they now own the company? n/m, JohnA [Profile/Gallery] , Wed, 27 Aug 2008 06:50:34

Found this in another BB

Chinese media reports this morning say that Chery may well be on the look out for a respected European brand that is up for sale.

Chery have set themselves up as a major player in the self developed (i.e. Chinese brand) automaker in the past few years, going from buying old Ford UK production lines and rights to the Seat Ibiza Toledo in the late 90’s to developing some of the best looking Chinese cars in 2008.

Chery have excelled themselves at making cheap cars that look good, a stratergy that has worked well so far, however, it seems they wish to further themselves in the international market, and perhaps realize their Chery brand wont cut it for selling premium vehicles.

Since setting up an investment joint venture with the Isreali company, Isreal Corp, Chery have found themselves sitting on a pile of cash, 150 million USD to be precise, and a registered capital of 5 billion, Isreal corp reportedly invested 250 million into the deal. Chery are now investing heavily into R&D to make several upcoming models, including the Tiggo6 SUV, T2 series (a 3 door, 4 seater SUV), and an A6 sports sedan.

Chery’s Chairman, Mr. Yin, expressed that Chery is in its second phase of development, where it should become an international player, now that its status as a major domestic player is complete.

Media reports indicated that Chery could deepen its joint venture with Chrysler, or it could swing the other way and buy an established European brand, although no brands were mentioned, rumors have it that both Saab, and Volvo may well soon be changing hands. Could they have a Chinese future? Perhaps so.

Reference: China Car Times 20th August 2008.

posted by 63.237.149...

• Blasphemy!!!! How can GM Claim the 92 as their car??, Wasabi, Mon, 25 Aug 2008 12:28:19
  • because they now own the company? n/m, JohnA , Wed, 27 Aug 2008 06:50:34
    • Not for long..maybe..., Wasabi, Thu, 28 Aug 2008 08:48:33 <-- Viewing This Message
  • Nice to recognize the brand, but not to take credit, Wasabi, Tue, 26 Aug 2008 05:39:30
    • EV1+, Mike Lynch , Tue, 26 Aug 2008 14:28:55
      • Re: EV1+, Seanster, Tue, 26 Aug 2008 14:32:21
        • They were all taken, strong demand..., Mike Lynch , Tue, 26 Aug 2008 14:48:55
    • Re: Nice to recognize the brand, but not to take credit, steve, Tue, 26 Aug 2008 08:35:01
      • Apparently GM agrees killing EV1 was a huge mistake, steve, Tue, 26 Aug 2008 08:48:19
  • EV1...!!!, Mattias.se, Tue, 26 Aug 2008 05:22:24
  • Darned if they do, Darned if they don't....., MI-Roger , Mon, 25 Aug 2008 17:10:29
  • And if they didn't list it..., Steve B. in MI, Mon, 25 Aug 2008 17:07:23
    • That's right..., Noel, Tue, 26 Aug 2008 07:10:45
    • isn't that THE TRUTH..., Scott Paterson , Mon, 25 Aug 2008 17:17:32
  • History books are written by the winners., SWEDECAR , Mon, 25 Aug 2008 15:47:35
  • agreed..., n8, Mon, 25 Aug 2008 12:50:20

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