Chinese auto maker Chery, the ambitious flag-bearer of Chinese indigenous brands, expects a record car export of more than 100,000 units after a 2.2-fold increase in export in the first three quarter of 2007.
The Anhui-based company exported 77,000 cars worth US$530 million in the first nine months. It would double that of 2006 to reach 100,000 with a sales volume of US$700 million, said the Bureau of Commerce of Anhui Province.
Chery is capable of producing 400,000 cars, 400,000 engines and 300,000 transmission cases a year and plans to raise its annual output to one million cars by 2010.
The firm, established in 1997, started production in 1999 and made its first million cars in seven years and nine months, said a statement from the company.
The company, which operates seven plants in six other countries, including Russia, Uruguay, Indonesia and Egypt, would build another 14 overseas plants by 2010.
It has established ties with Italy's Fiat to supply 100,000 engines a year for Fiat cars made in China and abroad.
Chery has also signed a deal with Chrysler to export Chinese-made cars to the United States and Europe. The two companies will jointly develop new products based on Chery's small-car platforms.
Earlier this month, the company launched its first franchise in Philippine located in Manila which sells automobiles branded with Qiyun, Eastar and QQ under the flag of Chery.
(Xinhua News Agency October 15, 2007)
