China's Chery Gets Closer to Being a World Player
Even as the fate of the troubled U.S. auto giants dominates the world news, we've been hearing a lot about China's domestic auto champion Chery Auto, based in Wuhu, Anhui province. First the Chinese and Western media reported on Dec. 7 that Chery had won a $1.5 billion deal with Export-Import Bank of China to help its exports grow. But just a day later the headlines announced Chery was abandoning its plans to build a small car with U.S. automaker Chrysler, which, along with General Motors (GM), is flirting with bankruptcy.
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