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March 30, 2015 11:04 AM ET

Automobiles

Company Overview of Chery Automobile Co., Ltd.

Company Overview

Chery Automobile Co., Ltd. manufactures and distributes passenger vehicles/cars, commercial vehicles, and minivans. The company’s products include engines and transmissions. It serves customers through a network of distributors in China and internationally. Chery Automobile Co., Ltd. also exports its passenger vehicles. The company was formerly known as SAIC Chery Automobile Co., Ltd. and changed its name to Chery Automobile Co., Ltd. in September 2004. The company was founded in 1997 and is headquartered in Wuhu, China. It has factories in China, Ukraine, Iran, Egypt, Indonesia, Uruguay, Malaysia, Thailand, Brazil, Syria, Taiwan, Venezuela, and Vietnam.

No.8 Changchun Road

Economic and Technological Development Zone

Wuhu,  241006

China

Founded in 1997

Phone:

86 40 0883 8888

Fax:

86 55 3595 1289

Key Executives for Chery Automobile Co., Ltd.

Chairman, President and General Manager
Vice President
Compensation as of Fiscal Year 2014.

Chery Automobile Co., Ltd. Key Developments

BMW Reportedly Eyes Qoros Automotive

Bayerische Motoren Werke Aktiengesellschaft (DB:BMW) is planning to acquire Qoros Automotive Co, reported Chinese Business News citing industry insiders. According to the report, it is said that BMW has initiated the assessment of Qoros Automotive's Changshu plant. Yin Tongyue, Chairman and General Manager of Chery Automobile Co., Ltd., said in an interview that they haven't known the matter yet, saying they had infrequent contact with BMW.

JLR Opens Chinese Production Plant with Chery Automobile

Jaguar Land Rover has opened a new production base in Changshu in eastern Jiangsu Province as it aims to cement its presence in China's premium car market. It has opened its first production base in China with joint-venture (JV) partner Chery Automobile. The new plant is part of a CNY 10.9 billion (USD 1.78 billion) investment for the automaker to develop a strong foothold in China. The plant will have initial capacity to produce 130,000 units per year (upa), with the first model being the Range Rover Evoque SUV. JLR is also building a body shop at the Changshu base, so that it can produce Jaguar products in China in the future.

Chery Automobile Co., Ltd. Reports Sales Results for the Month and Nine Months Ended September 30, 2014

Chery Automobile Co., Ltd. reported sales results for the month and nine months ended September 30, 2014. For the month, the company sold 43,349 cars, up 19.9% from August or 37.4% year on year. It sold 32,826 cars at home, up 28% from August or 54.9% year on year. For the nine months the company sold 228,000 cars, up 7.6% year on year.

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