- Dec 26, 2007
Chery enters joint venture with Israel Corp.
Israel Corp. has now won approval from China's still heavily centralized government to set up shop in partnership with Chery Automobile. The Israeli partner will take a 45. The news of the deal hit the wire shortly after the now-refuted
reports of an ambitious plan to put 10,000 electric cars on Israeli roads by 2010.
Chery was the first of a plethora of Chinese automakers that now manufactures outside of China, operating its own plants in Iran, Malaysia, Bangladesh and Argentina. While it's still not known where the new Sino-Israeli cars will be built, they could very well find their way to our shores as Chery gears up for its assault on the American market.
[Source: Detroit News]