Chinese automobile manufacturer Chery Automotive Co (CAC) has
signed a partnership agreement with the Russian-based Avtotor to
assemble cars in Russia.
Details on the joint-venture are still under discussion, reports
yesterday's Economic Information Daily, quoting a manager
from Chery.
Russian media sources confirmed the news and said Chery also
plans to establish a factory with Avtotor if Chery cars are sold
successfully in Russia.
Chery estimates that investment in the new factory would total
US$200 million.
Avtotor has also signed partnership deals with two other Chinese
manufacturers, Nanjing Yuejin (trucks) and Zhongxing (SUVs) in July
2005.
Based in east China's
Anhui Province, Chery was ranked No.1 in China for car sales
last year, with total sales hitting 185,000 units, 118 percent more
than the previous year.
Sales of China's Chery automobiles took a huge leap in January
as 22,505 of the smaller cars were sold, an increase of 110 percent
compared to the same month of?last year, according to the
company's sales department.
The QQ, the company's flagship auto, saw sales hit 12,865 in
January, leading China's small car market. Another of the company's
models, the Qiyun, sold 7,575, two and half times more than the
same period of?last year.
Chery attained its 2005 sales goal with 189,000 units sold. The
company is now China's sixth largest carmaker.
According to the company, Chery is planning to put six new
models on the market in 2006. Insiders say the company is expected
to sell 281,000 autos this year.
Chery has also won recognition for its technological
innovation.
In 2005, China's vehicle output grew 12.56 percent to 5.71
million units over the previous year. Sales of domestically-made
vehicles grew 13.54 percent to 5.76 million units, according to
statistics from the China Association of Automobile
Manufacturers.
(Xinhua News Agency February 9, 2006)