Chery plans three auto plants abroad

Chery Automobile, German-U.S. carmaker Daimler-Chrysler's new partner in China, has announced plans to build three plants abroad to assemble its own brand of cars.
Yin Tongyao, chairman of the company based in East China's Anhui Province, said the three plants will be built in the Middle East, Eastern Europe and South America. "We will formulate a clear plan for these plants this year," he said.
Yin did not reveal the size of investment in the new plants, their production capacities or specific locations.
Chery, China's leading car exporter, already has six overseas facilities operated with partners in Iran, Malaysia, Russia, Ukraine, Brazil and Egypt, according to Yin and the company's other executives.
Yin said earlier this month that Chery aims to sell at least 70,000 cars abroad this year, up from 50,000 units in 2006.
Last year, China's overall vehicle exports doubled to 340,000 units over 2005, with passenger cars tripling to 90,000 units.
A battery of other Chinese carmakers, such as Geely Automobile, Great Wall Motors and First Automotive Works Corp, also have plans to produce cars overseas

Tags: chery geely nanjing hafei zhonghua SAIC lifan