Industry News
DaimlerChrysler signs partnership heads of agreement with Chery – reports
6th October 2006
Media reports from unnamed corporate sources thus far unconfirmed by DaimlerChrysler say the company has agreed in principle to establish a joint venture in which the Chinese carmaker Chery will export small cars to help Chrysler Group lower the price and fuel consumption of its domestic vehicle range. The sources quoted indicate that DCX and Chery have begun talking to a number of potential component suppliers.
Production would reportedly begin at Chery’s existing facilities at Wuhu, which have a capacity of 300,000 units a year, which will be extended by a new plant to be constructed starting next year.
(International Herald Tribune, 5 October)
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