Chery Rolls Out Its Millionth Car

SHANGHAI - August 24, 2007:

Chery Automobile held a celebration as its 1,000,000th car rolled off the assembly line yesterday. As the first Chinese home-grown automaker ever to reach this milestone, Chery's success astonished the world.

It took Chery seven years and nine months to reach this point. By July this month, Chery has exported a total number of 153,694 vehicles since it started exporting the first vehicle in 2001. For four consecutive years, Chery has consolidated its position as China's largest sedan exporter.

With its annual output capacity exceeding 400,000 units, Chery has sold 232,785 cars in the first seven months of the year. The company plans to raise its annual output capacity to one million units open 14 new plants overseas and export 600,000 vehicles by 2010, according to the company's announcement,.

Headquartered in Wuhu city of Anhui province, the automaker differs from other domestic players for its self-reliance---Chery insists on developing its own brands.

The company has also attracted many international automakers to form partnership relations. After having sealed cooperation deals with Fortune 500 enterprises like Johnson Controls, Delphi and PPG Group, Exxon Mobil Chemical, Chery has recently secured cooperation with with Fiat and Chrysler.

Earlier this month, Chery has reached an engine supply deal with Italian auto maker Fiat. Under the agreement, Chery will supply over 100,000 engines every year to equip the Fiat cars produced globally. The deal is followed by a small-car development and production agreement with Chrysler Group on July 4th.

With its models like Cowin, QQ3, Tiggo 3 and A5, Chery has maintained a full line-up, ranging from city cars to MPVs, from sedans to SUVs. Most of Chery's vehicles have stabilized their standings in market.

For more information about the burgeoning auto industry in China please visit http://www.gasgoo.com/Autobiz/list/7/China-News.html