Information AboutChery |
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| motor vehicle manufacturers of the peoples republic of china | |
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Chery Automobile (in manufacturer in People's Republic Of China . It is owned by the local government of Wuhu , and produced about 188,000 vehicles in 2005 . Chery was founded in 1997 to prop up the economy in remote Wuhu. The company was not able to obtain a license to produce vehicles for sale in all of China, but was saved by an order for Taxi s by the local government. In 2001 , Shanghai Automotive Industry Company (SAIC) invested in the company, allowing it to use SAIC's national retail sales license. In 2003 , Chery founded a research and development organization, quickly designing its own 3- and 4-cylinder engines. However, Chery was also sued by GM Daewoo for copying that company's Chevrolet Spark (a.k.a. Daewoo Matiz ). Chery claims that they licensed the vehicle design prior to General Motors ' purchase of Daewoo . Chery was able to scout a number of key engineers from South Korea 's Daewoo motor during its bankruptcy proceeding in 2001~2002, who took a complete set of plans with them and went on to create Daewoo vehicles at Chery. The copied vehicles are Daewoo Matiz ( Chery QQ ) mini car and Daewoo Magnus ( Chery Oriental Son ) mid-size sedan. They are exact replicas of Daewoos, being able to swap door panels and key components between them. Both Matiz and Magnus are currently sold as Chevrolets outside of South Korea and Vietnam . It is expected that the Chery QQ wil hit the markets in Europe in 2006 , the introduction price is expected at 5000,= Euro's, making it the cheapest car in Europe together with the Dacia Logan . In 2005, Chery started export of right hand drive vehicles to Malaysia. {Link without Title} The rebadged Chery A15 , is to be powered by BMW s Tritec Engine . VISIONARY VEHICLES Chery is working with Malcolm Bricklin 's company, Visionary Vehicles, to be the first Chinese automobile sold in the United States. The plan calls for five new car lines to be imported, none of which exists today. The cars would include a basic, inexpensive model, a larger Sedan , a sporty Coupé , an SUV , and a Sport Wagon . Design would be handled by Bertone and Pininfarina of Italy . Bricklin plans to have 250 dealers in the United States selling 250,000 cars in 2007 . In March 2005, Chery received an export credit from China's Export and Import Bank of 5 billion yuan ( US$ 605 million) to begin trading overseas. Chery also received a 2.4 billion yuan (US$290 million) loan from the China Development Bank to further finance its research and development. Chery has also attracted Western suppliers to Wuhu, including Tower Automotive , Siemens , and TRW . Delphi will also supply parts for Chery's vehicles. The vehicles will probably not use the Chery name in the United States as General Motors felt it was too close to the nickname Chevy, derived from its wholly-owned subsidiary Chevrolet . Visionary hired Pierre Gagnon from Mitsubishi Motors North America as Chief Operating Officer in March, 2005, only to terminate his employment one month later. Gagnon felt that Visionary should be headquartered in California, while Bricklin wanted to keep the company in New York. As of June, 2005, the company had not yet signed up any of the 100 dealers promised before the fall. Chery says it plans to build plants in the United States after selling a million cars there. {Link without Title} Visionary has shown a single vehicle, the Pininfarina -designed M14 Coupe-convertible with a striking resemblance to the Peugeot 307 CC. This vehicle would sell for US$19,000, much higher than expected. MODELS
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