Posted on 07/03/2007 11:18:15 PM PDT by HAL9000
Chery and Chrysler Group Finalize Cooperative Agreement
- Chery and Chrysler Group forge new model of international cooperation
BEIJING, July 3 /PRNewswire-FirstCall/ -- Chrysler Group President and CEO Tom LaSorda joined Chery Automobile Co. Chairman and President Yin Tongyue today to finalize the highly anticipated cooperative agreement between the two automakers.
Chinese governmental authorities from the State Development and Reform Commission officially approved the agreement and marked the occasion by hosting a first-of-its-kind signing event. The ceremony was held at Beijing's Diaoyutai State Guesthouse.
Under the agreement, Chery, based in Wuhu, Anhui Province, China and Chrysler, based in Auburn Hills, Michigan, USA will work together to develop, manufacture and distribute Chery-made small and sub-compact cars in North America, Europe and other major automotive markets under the Chrysler Group brands.
"This is a win-win for both of our companies, and I am confident this will be a successful relationship," said Yin. "Chrysler brands are very well known in the U.S. and Europe. We're prepared to work with Chrysler Group to expand their small-vehicle lineup with competitive products and accelerate both our companies' international competitiveness."
Chrysler will identify several small-car models now being developed by Chery in China and work collaboratively to make any necessary branding and regulatory modifications prior to their entry into other markets. Both companies also will jointly develop new globally competitive products based on future Chery small-car platforms.
Strategic growth in international markets - while defending market share in North America - is an important part of Chrysler Group's Recovery and Transformation Plan.
"This is the start of a very long relationship between Chrysler and Chery," said LaSorda. "Chery's participation in this agreement and their focus on small and sub-compact cars will have a nearly immediate effect on Chrysler Group's offerings in the small-vehicle segments. This strategic partnership is part of a new business model that is allowing us to introduce all-new products more quickly, with less capital spending."
Today's announcement is not the first milestone for Chrysler in China. Chrysler's relationship with China began 25 years ago when it formed Beijing Jeep Corp., the first international automotive joint venture in the country.
The DaimlerChrysler Supervisory Board approved the framework for the Agreement earlier this year.
Profile of Chery Automobile Co., Ltd.
Since the foundation of Chery in 1997, Chery has always been pursuing independent innovation, after ten years development, Chery now is endowed with systematic new products research and development, manufacture and sales. Its products have been sold to more than 50 countries and regions, and it has become the pacesetter of Chinese independent auto brands with its average annual growing rate at 169%.
Profile of Chrysler Group
The Chrysler Group is the Auburn, Hills, Michigan-based unit of DaimlerChrysler AG. Employing more than 84,000 people worldwide, Chrysler Group designs, manufactures, markets, distributes and - through its Chrysler, Jeep and Dodge dealers - sells cars, trucks, minivans and sport-utility vehicles to customers in more than 125 countries worldwide. Its brands feature some of the world's most recognizable vehicles, including the Dodge Viper, Jeep Wrangler, Chrysler PT Cruiser and Chrysler 300C. In 2006, Chrysler Group sold 2.8 million vehicles globally.
Website: http://www.media.daimlerchrysler.com/
Website: http://www.daimlerchrysler.com/
A combination of Chrysler quality and Chery design. Should be a real winner. (Snicker).
Their first joint effort will be called the Chery Bomb.
We need to stop cozying up to China.
I LOVE my 98 Durango. Wonder how many Chery's it can squash.
prisoner6
“General Motors noticed that the brand name used by Chinese automaker looks an awfully like Chevy. Chery Automotive has big plans with Malcolm Bricklin at the helm in the U.S. but GM has threatened Chery with legal action if it uses the brand name in the America. Bricklin told the Financial Times that he would use the name anyway. GM already slapped Chery with a lawsuit over intellectual property stating the Chery QQ is a direct copy of the GM-Daewoo Matiz sold in China as the Chevy Spark. Chevy. Chery.”
So an “American” car company will import a cheap Chinese copy of a cheap Korean car that is probably a copy of an obsolete American car. That sure inspires confidence.
I have two Chryslers. The Town and Country goes first, then the Pacifica. I was just starting to feel better about them after shedding Daimler. F Chrysler.
Chery Bomb - Good one!
If it's anything like the swiss/german? Smart Car, and much cheaper we're in trouble ... if the market for Walmart (Communist China's retail outlet in the USA) is any indication.
If there was ever a great reason to just keep on driving what you’ve already got, this is it.
Show me a service economy and I’ll show you an economy of servants.
prisoner6
That car will be a very big seller if it gets 700 mpg.
There will be three basic China cars. The C412 is a replacement for the Mercedes A-Class and B-Class, and was engineered by Chrysler and Mercedes - and Chrysler actually won some engineering fights. The first Mercedes version is due in 2008; the Chrysler version will be built in China, while the Mercedes will be built in Germany or East Europe. It is around 13-14 feet long and five feet wide, and Chrysler expects it to sell nearly as many copies as the Neon or PT Cruiser, starting in model-year 2008. This vehicle is due very soon. As far as we can tell this is closer to being a Chrysler than a Chery, and unless the company is working with surprising speed or pushing back the production date, the design is probably set in stone and will not benefit from the company’s freedom from Mercedes.
The next car is a smaller vehicle, around 11 feet long and five feet wide, with for export sales only; this one is essentially a rebadged Chery, as far as we can tell, but it might have a custom "top hat" (the visible parts, inside and out). This one is to be introduced in 2009, as a 2010 model, to fill out the Chrysler product line.
Finally, we have the infamous Hornet. We have no idea what the basis for this is, but based on the dimensions, it could either be a shortened version of the Chrysler/Mercedes C412, or an existing Chery platform; it’s to be sold as a niche car in the United States with a rather low projected volume (below even the original PT estimates).
FWIW
prisoner6
Yu-Go, Chery!!!
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