2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
The Chinese car maker Chery also wants to build vehicles for Europe. Production of three vehicles is scheduled to start as early as next year. The vehicles are to be developed by the supplier Magna.
According to a newspaper report, China also wants to build cars for the European market with foreign aid. The Chinese manufacturer Chery has teamed up with one of the largest industrial conglomerates in Israel, Israel Corp., reported the "Financial Times Deutschland" on Tuesday without giving any sources. The cars are to be developed by the Canadian-Austrian supplier Magna, which produces the Mini Countryman SUV and the classic Mercedes-Benz G-Class.
Chery plans construction for next year
Production of three models in China should start as early as next year, writes the newspaper. The plan is for vehicles about the size of the Skoda Octavia, which are also to be exported to Europe. For the first time, cars with western standards should come from China and compete with established manufacturers. Officially, the joint venture CQAC did not want to speak to the newspaper about the project. "We are still in the process of planning the announcement of our brand," the "FTD" quotes a company spokesman. This should probably take place in November.
According to the website, the Israel Corporation holds 30 percent of Better Place, the company owned by the former SAP manager Shai Agassi, who wants to use replacement batteries to advance electric cars. Chery Quantum Auto Co. (CQAC) is owned half by Israel Corp and one half by Chery. The start-up capital is given as 900 million dollars.
The Chinese government has advertised the automotive sector as a strategic industry and is urging western manufacturers to cooperate with domestic suppliers. The Chinese hope that this will result in a technology transfer. At the same time, there is a particular focus on alternative drives, because mass motorization of the Chinese population could have serious consequences for the environment. (dpa)
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