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Old 05-12-2007, 02:30 AM   #11
zvir
 
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Smile No , You are not a racist

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Old 05-15-2007, 02:25 AM   #12
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If this deal is true, stupid move by Chery.

Israel = Small market, high cost of labor, high cost of manufacture, limited R&D capabilities

Plus, you will gain some friction with the huge Muslim world, where the real market potential is.

Stupid move all around. Shows some Chinese companies are still very immature and impractical in their strategy.
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Old 12-27-2007, 11:08 AM   #13
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Fresh news.

Quote:
Israel Corp., an Israeli holding company with stakes in chemicals and shipping, won Chinese government approval to set up a carmaker with China's Chery Automobile Co., Bloomberg News reported today.

The permission for the joint venture came today, almost a year after the company applied for approval, Israel Corp. said in an e-mailed statement.

Israel Corp. said March 28 it planned to pay $225 million for a 45 percent stake in a venture with an unidentified Asian automobile maker.

Chery is China's first automaker to assemble cars abroad. It is based in Wuhu, in Anhui province, and is owned by the municipal government. Chery has production agreements with partners in Iran, Malaysia, Bangladesh and Argentina.
source: Detroit News Wire Services


Quote:
Chery Automobile of China has announced that it will enter into a joint venture with Israel Corp. — an Israeli holding company — to create a new automaker. Israel Corp. currently has holdings in chemicals and shipping. The joint venture — which nearly took a year for approval — will see Israel Corp. taking a 45% stake, which cost the investment company $225 million.

According to The Detroit News, Chery has production agreements with partners in Iran, Malaysia, Bangladesh and Argentina. Chery will also produce small cars for Chrysler.

No word on when the new brand will launch.
source: leftlanenews
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Old 01-04-2008, 10:22 AM   #14
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China approves JV.

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January 4, 2008 – National Development and Reform Commission, China’s powerful top economic policy-making and regulatory body, has recently approved a joint venture project between Chery Automobile and Quantum LLC, a U.S. unit of Tel Aviv-listed holding company Israel Corp, China’s official media Xinhua News Agency reported today.

The project, with a total investment of one billion U.S. dollars (RMB 7.36 billion), is expected to turn out 150,000 units a year, lifting Chery's total production capacity to 500,000 vehicles.

These vehicles to be produced by the joint venture will mainly be exported overseas, Xinhua said, however the venture is “not prepared” for export to the U.S. market, according to a Chery official.

The venture will make four new models, including sedans and sport-utility vehicles. The vehicles to be produced at the joint venture include 40,000 B21 vehicles, 25,000 B22 vehicles, 20,000 T21 vehicles and 65,000 M21 vehicles.

Quantum LLC, a subsidiary of Israel Corp, will spend US$225 million for a 45 percent stake in the new entity and is also expected to provide an additional US$180 million guarantee to help Chery fund additional investment, according to a media report.

Rather than direct financial investments, Chery will provide land and technology in return for a 55 percent stake of the joint venture.

Parent Israel Corp is one of Israel's major holding companies. Its main activities are focused on chemicals, shipping, oil and energy, advanced technology.

Last year, Chery sold a total number of 381,000 vehicles, up 24.8 percent from one year earlier, becoming China’s forth largest automaker in terms of sales.

The company exported 119,800 vehicles in 2007, up 132 percent from one year earlier. Chery has been China’s biggest sedan exporter for five years in a row.
source: Gasgoo.com
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Old 03-06-2008, 10:57 AM   #15
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Chery, Quantum LLC unveil joint venture in Wuhu.

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March 5, 2008 - Chery Automobile Co and the U.S.-based Quantum LLC have official unveiled their joint venture plant in Wuhu, Anhui province, local newspaper reported today.

Quantum LLC, a subsidiary of Israel Corp, will spend US$225 million for a 45 percent stake in the joint venture firm and is also expected to provide an additional US$180 million guarantee to help Chery fund additional investment. Chery will invest US$270 million in terms of land and technology in return for a 55 percent stake of the joint venture.

The venture will make four new models, including sedans and sport-utility vehicles. The vehicles to be produced at the joint venture include 40,000 B21 vehicles, 25,000 B22 vehicles, 20,000 T21 vehicles and 65,000 M21 vehicles.

The joint venture will start operation by the end of 2009. Production capacity is expected to reach 150,000 units a year, lifting Chery's total annual output capacity to 500,000 vehicles.

The cooperation mode is claimed to be a first of its kind in China's automobile industry, where in the most case the foreign partner will finance a joint venture in terms of technologies.

Parent Israel Corp is one of Israel's major holding companies. Its main activities are focused on chemicals, shipping, oil and energy, advanced technology.

Last year, Chery sold a total number of 381,000 vehicles, up 24.8 percent from one year earlier, becoming China’s forth largest automaker in terms of sales.

The company exported 119,800 vehicles in 2007, up 132 percent from one year earlier. Chery has been China’s biggest sedan exporter for five years in a row.
source: Gasgoo.com
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Old 03-06-2008, 05:39 PM   #16
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Quote:
Originally Posted by edge
If this deal is true, stupid move by Chery.

Israel = Small market, high cost of labor, high cost of manufacture, limited R&D capabilities

Plus, you will gain some friction with the huge Muslim world, where the real market potential is.

Stupid move all around. Shows some Chinese companies are still very immature and impractical in their strategy.
china has to work with all nations, not skip 1 nation just to politically please others
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Old 03-02-2009, 11:26 AM   #17
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Israel Corp, Chery cut funds for China car venture

March 02, 2009

The Israel Corp holding company said on Sunday the initial investment in its joint venture to build cars in China would be cut to $500 million for 2009-2010 from the originally planned $900 million.

Chery Quantum Auto Co is a joint venture between Israel Corp's subsidiary Quantum and China's Wuhu Chery Automobile Investment Co.

The two sides also decided to change the holdings in the joint venture so that Quantum would own 50 percent instead of the 45 percent it currently holds. Chery's stake will fall to 50 percent from 55 percent, Israel Corp said in a statement.

The Israeli company said the initial investment for 2009 and 2010 would be reduced as a result of a decision to develop fewer models and the postponement in building a special factory. The two sides have decided to use Chery's current production facilities for the time being, Israel Corp said.

Quantum will not be required to inject any more money in 2009-2010 beyond the $200 million it has already invested. An additional investment of $40 million, if need be, could be made in 2011 at the earliest, Israel Corp said.

Chery Quantum Auto will build electric cars as well as conventional automobiles, it said.

source: gasgoo.com
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Old 02-01-2010, 11:05 AM   #18
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Chery designs compact electric jeep for Israel JV

February 1, 2010
Chery-Quantum LLC, a joint venture between Israel Corp. and China's Chery Automobile Co., will develop a compact jeep, whose initial technical details have been disclosed by the official Chinese press, said Israel's Globes Online.

Israel Corp. invested $225 million in Chery-Quantum for a 50% stake in the JV. Last year, Chery-Quantum changed its premium car strategy to focus on an electric jeep. The new Chery-Quantum compact jeep, code-named T21, was designed at a studio in Milan, and resembles the general design of Chery's Tiggo 5, but is smaller.

The T21 will have a replaceable battery, which will probably be made by A123 Systems Inc. of the U.S., in which Israel Corp. is a shareholder. The battery will be located on the T21's double floor.

Israel Corp. plans to supply Better Place LLC with electric cars that suit the latter's batter replacement model to help boost the corporate value for the latest investment. Israel Corp. is Better Place's shareholder.

Better Place is presenting the final model of its battery replacement station, which includes a storage and management network. The model has been built and is operating at the company's closed hangar in Petah Tikva.

One clue to the mystery surrounding the $1.25 billion company value achieved by Better Place LLC in last week's investment, lies in China, said Globes Online.

http://autonews.gasgoo.com/auto-news...Israel-JV.html
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Old 11-29-2011, 09:57 AM   #19
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Chery-Quantum JV company officially adopts Qoros name

November 29, 2011
The new joint venture between Chery and Quantum has officially adopted the Qoros name for its company, China Business News reported today. The venture was established in 2007 with a 3.4 billion yuan ($533.77m) registration fee.

Despite the fact that both Chery and its Israeli partner Quantum having a 50 percent share of the new venture, all of the intellectual rights will stay in China. According to Guo Qian, JV president and board chairman, Qoros vehicles will adhere to European standards and be destined for export to foreign markets. The brand is scheduled to begin business overseas in 2013.

The Qoros venture has brought Gert Hildebrand, chief designer of the Mini, out of retirement to join its design team. Former top-level VW executive Volker Steinwascher, meanwhile, will be representative of Quantum's parent company Israeli Corporation. The venture has also managed to attract managerial, engineering and design talent from international manufacturers such as GM, Jaguar Land Rover, Saab and Opel. On the supplier side, Qoros has the support of several internationally recognized suppliers, including Magna Steyr and Bosch.




http://autonews.gasgoo.com/china-news/chery-quantum-jv-company-officially-adopts-qoros-n-111129.shtml
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Old 11-30-2011, 04:07 AM   #20
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Default Re: Chery and Quantum JV - Qoros brand

Wall Street Journal
November 28, 2011, 1:00 PM ET
Qoros: Launching A New Car Brand In China

As brands mushroom in China’s slowing auto market, worries of a shake-out are mounting. Yet, despite the fear, more auto brands are being launched in China, and existing global brands are piling in to grab a piece of the world’s biggest auto market.

The latest addition: a new brand called Qoros launched officially Monday by investment firm Israel Corp. and China’s Chery Automobile Co.

Qoros Automotive Co., a 50-50 joint venture between the two companies, is led by Chief Executive Officer Guo Qian, a Chery official, and former Volkswagen AG executive Volker Steinwascher, who serves Qoros as vice chairman. Mr. Steinwascher said in a telephone interview over the weekend that Qoros is aiming to generate annual sales of about 150,000 vehicles a year by 2015 or 2016. It plans to manufacture those cars at a plant in Changshu, a city northwest of Shanghai, and market roughly half of those vehicles in China and export the rest to Europe.

The company, Mr. Steinwascher said, is currently developing three compact cars, one of which is a sedan and is expected to hit the market in China and Europe by the end of 2013.

The brand’s competitive edge, according to Mr. Steinwascher: cars that have been designed by “seasoned” engineers with experience in working for companies like Volkswagen and BMW AG – and sell some “10% lower” in retail prices compared with comparable Volkswagen cars marketed in China. Qoros engines are being designed by Austrian engine-technology firm AVL List GmbH. and will be produced and supplied by Chery.

Qoros cars, Mr. Steinwascher said, “combine German design quality and craftsmanship with Japanese convenience and functionality” to appeal to “young, international-minded, urban consumers” in China. Those target consumers are “looking for quality and distinctive styling, and they’d like to be connected even when they are driving,” the Qoros executive said.

As ambitious as Mr. Steinwascher and his new China auto brand may be, the field is already becoming crowded, even before Qoros’ first car hits showrooms in late 2013.

“If the market continued to grow sluggishly, posting low single-digit growth, for a few years straight, a shakeout would become inevitable,” said Yale Zhang, head of consulting firm Automotive Foresight Co. in Shanghai. Mr. Zhang noted that China has about 70 brands of locally produced cars, run by homegrown Chinese companies and global auto makers. Most notably, Japan’s Daihatsu Motor Co. exited the Chinese market a few years ago when it failed to generate sales to a profitable level, he said.

Yet, more foreign brands are entering China. Just last week, at the Guangzhou auto show, Volkswagen and Fiat SpA of Italy announced plans to launch the Seat and Alfa Romeo brands next year in China, respectively.

By 2013, China’s auto marketplace also will see an addition of a host of affordably priced China-only brands launched by foreign joint ventures. In August, GM and its Chinese partners launched the first product for their Baojun brand — a compact sedan called the Baojun 630. The car is priced – between 62,800 yuan (about $9,800) and 73,800 yuan – to appeal to people who are becoming just rich enough to buy cars.

Nissan Motor Co. and its Chinese partner are expected to launch their own no-frills China brand, Venucia, in the first half of 2012 when they start marketing the brand’s first product, also a small car.

Venucia is starting with 100 retail outlets, operated mostly by current Nissan dealers and plans to add a second vehicle to the lineup by the end of next year.

By 2015, Kimiyasu Nakamura, chief executive of Nissan’s main joint venture with Dongfeng Motor Group Co., said Nissan hopes to generate sales volume of about 300,000 vehicles a year – the sales scale that would rival that of carmakers like BYD Co., Chery and Zhejiang Geely Holding Group Co.

http://blogs.wsj.com/drivers-seat/20...ogle_news_blog
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