Israel-China car venture launching first model in ’13


JERUSALEM (JTA) — The Qoros Automotive Company — a joint venture of the Israel Corp. and China’s Chery Automobile Company — said it will introduce its first model in 2013.

Qoros will introduce a compact sedan in ’13,  the Israeli business daily Globes reported. The Qoros factory is being built in Changshu, west of Shanghai.

The two corporations have invested $500 million in Qoros since it was founded in 2007.

Qoros, which is targeting the Western Europe and Chinese markets, plans to generate sales of about 150,000 vehicles a year by 2015 or 2016, according to The Wall Street Journal.


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