Chery may invest in Turkey

• Source: The Global Times
• [15:48 April 27 2009]
• Comments

By Shi Jierui

Chery vice president Zhou Biren told Turkish news website Hurriyet Dailynews that the carmaker "is analyzing feasibility studies on whether to invest in Turkey."

Zhou said this during the 2009 Shanghai Auto Show.

Chery was China's biggest automobile exporter last year, accounting for more than one-quarter of the country's car exports.

According to the Hurriyet Dailynews, Zhou said Chery has to reach a certain level in sales in order to possibly invest in Turkey.

"But still, we hope to reach an agreement with Mermerler [Chery's Turkish distributor] in the near future," Zhou said. "After feasibility studies are analyzed, we will be able to say whether this is a viable and good investment or not. Also, Turkish customers are the ones who can accelerate this process. The more Chery cars they buy, the quicker we will invest in Turkey."

But Zhou declined to give a figure on the possible investment in Turkey. "This depends on which models we will produce and how," he said. "We think feasibility studies will continue for two more months. In July, we will have made a decision."

Chery Auto sold 35,000 vehicles globally in March, after selling 30,000 units in February and 35,000 units in January. It is considering opening a $700 million factory in Brazil by 2012 to tap into the country's growing market. Last year, Chery became the first Chinese automaker to manufacture in South America when it opened a joint venture assembly line in Uruguay with Argentina SOCMA Group and Oferol of Uruguay.