First Qoros model from Sino-Israeli partnership

A joint venture between Chinese carmaker Chery Automobile Co and Israel's largest holding company plans to simultaneously launch its first model on the Chinese and European markets next year.

The first model from the partnership Qoros Auto Co Ltd will be a compact four-door sedan with "a design language inspired by modern European tastes", the company said.

The model will make its global premiere at the Geneva motor show in March 2013 and its China debut at the Shanghai auto show in April next year to attract "discerning young buyers" in China and Europe, it said.

The model will be followed by a range of other products including a compact hatchback, an SUV and a wagon, as well as hybrid and purely electric cars, according to the company.

The products will first be sold in China and major European markets, it said. The company plans to then expand to other countries.

It stressed that all Qoros products will be designed to meet high international safety, quality and environmental standards and engineered to receive maximum ratings in European NCAP (new car assessment program) safety tests.

The company is building a plant in the eastern Chinese city of Changshu with an initial production capacity of 150,000 cars a year. The number could be increased to 450,000 units in the future.

Qoros was established in Changshu in 2007 with 3.4 billion yuan registered capital. Chery and Israel Corp - an industrial giant with businesses ranging from fertilizers to specialty chemicals, energy, shipping and transportation - each hold a 50 percent stake.

"We are a new company without any legacy or previous history, which gives us a great advantage because we are starting from scratch with a clean sheet of paper," said Volker Steinwascher, Qoros vice-chairman.

"By recruiting experts in all the essential fields of our operation, we can create a globally competitive product and service network that is designed to fit the lifestyles of modern metropolitan customers."

gongzhengzheng@chinadaily.com.cn