Chery To Build 3 Plants Overseas
Details are still sketchy, but Chery has announced plans to build 3 plants abroad (i.e. Outside of China) so Chery can further push its cars into developing markets such as South America, Eastern Europe and the Middle East. Cherys spokesman Yin Tongyao did not release information relating to the scope of the plan, or give any investment information. The only information released is that there will be 3 overseas plants. Chery already has six overseas plants that it runs in cooperation with partners in Iran, Malaysia, Russia, Ukraine, Brazil, and Egypt. Chery is going for a 28.9% increase in sales in 2007.