Monday, December 5, 2011
Israel, China team up for new auto brand
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Chinese auto maker Chery Automobile Co. and Israeli holding company Israel Corporation have announced their intent to launch a new automotive brand, Quoros, which will focus on the Western European and Chinese domestic markets.
Qoros plans to introduce a new compact sedan in Western Europe and China in 2013, initially producing 150,000 of the new vehicles which will be sold through an independent retail network.
They hope to eventually double production to 300,000 of the new car.
The launch of Qoros, comes as slow automobile sales, combined with an increase in competition, plagues China. The "talent", which includes BMW Mini designer Gert Hildebrand, is looking to create unique and distinctive international designs.