New Chinese automaker coming to Europe: Qoros
After Chery has signed with the Israeli company Quantum LLC in 2008, receiving a 225 million USD investment which contributed to the birth of a new Chinese automaker named Qoros, the manufacturer is getting ready to take its business on a whole new level, announcing that it will take over Europe, by opening a new plant and seeking some customers on the way.
Rumors say that the cars that will roll off the European assembly line are codenamed CF1X, CF11, CF14 and CF16, where the CF11 and CF14 will be sedans, and the CF16 will be a sports utility model.
The Chinese company has quietly applied and received a license to produce cars in China from the central government and the local plant has an initial capacity of 300.000 units annually, half of them being expected to hit the European showrooms.
It’s expected that the new Chinese automaker will launch an electric vehicle at first, aimed at the Old Continent, because the auto markets are full with low-cost four and six-cylinder powered vehicles and the ”eco-friendly technology” has a great potential in Europe.
In order to make sure that the new automaker will be successful, the Chinese have started a campaign to attract important officials from Volkswagen or Renault to their small brand.
A 1.5 billion euro investment is expected for the European assembly line and production line but the country selected by the Chinese officials is not known for now.