September 19, 2017 6:43 PM ET

Automobiles

Company Overview of Qoros Automotive Co. Ltd.

Company Overview

Qoros Automotive Co. Ltd. designs, engineers, manufactures, and markets cars. It offers SUV, sedan, and other cars. The company also provides financing and insurance options, as well as test drive services. It offers its products through dealers. Qoros Automotive Co. Ltd. was formerly known as Chery Quantum Automotive Co., Ltd. and changed its name to Qoros Automotive Co. Ltd. in November 2012. The company was founded in 2007 and is based in Shanghai, China with an additional office in Munich, Germany. Qoros Automotive Co. Ltd. operates as a joint venture between Chery Automobile Co., Ltd. and Israel Corporation Ltd.

3/F No. 388 Guozhan Road

Pudong New Area

Shanghai,  200120

China

Founded in 2007

Phone:

86 21 5191 3000

Key Executives for Qoros Automotive Co. Ltd.

Chief Executive Officer
Chairman of the Board and President
Vice President of Operations
Compensation as of Fiscal Year 2017.

Qoros Automotive Co. Ltd. Key Developments

Qoros Automotive Launches Model Young Series SUV

Qoros Automotive has launched the new Model Young sport utility vehicle (SUV) at the ongoing Chengdu Motor Show. The model is based on a shared platform between Chery and Qoros. The Model Young SUV is based on the T1X platform of Chery Automobile. The platform was the result of a three-way partnership, according to a statement from Qoros.

Qoros Automotive Co., Ltd. Reports Consolidated Earnings Results for the Second Quarter Ended June 30, 2017

Qoros Automotive Co. Ltd. reported consolidated earnings results for the second quarter ended June 30, 2017. For the quarter, revenue decreased by 55% to RMB 272 million, as compared to RMB 599 million in second quarter of 2016. The decrease in revenues is due to a 40% decrease in car sales from approximately 5,100 cars in second quarter of 2016 to approximately 3,000 cars in second quarter of 2017, as well as an increase in incentives granted to dealerships in second quarter of 2017. Loss for the period decreased by 93% to RMB 42 million, as compared to RMB 582 million in second quarter of 2016, primarily as a result of the increase in other income and cost-cutting measures. Negative Adjusted EBITDA improved to negative RMB 125 million from negative RMB 211 million in second quarter of 2016. The improvement in negative Adjusted EBITDA was mainly due to the decrease in selling, general and administrative expenses, as discussed above.

Qoros Automotive Co., Ltd. to Launch Model K-EV at 2017 Auto Shanghai

Qoros Automotive Co. Ltd. announced that it is launching its Model K-EV at the 2017 Auto Shanghai. The model is equipped with advanced electric drive-line technology and accelerates from zero to 100km/h in 2.6 seconds. It is available with a high-performance battery system, capable of a range of over 500km. The vehicle features asymmetric door design, large-sized gull-wing door, front passenger's door with a two-hinged system that opens outward as a conventional door or slides horizontally, and a sliding rear passenger door system.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 16, 2017
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