Chery Automobile Builds RMB 4.7 Billion to Build Dalian Vehicle Project

Yin Tongyue, chairman of Chery Automobile, stated that building a factory in Dalian was the first time that Chery had “stepped out of the provincial gate”, the northeast was an important industrial base of the country, and it was the cradle of the automobile industry; Dalian was the most dynamic city in the Northeast, and Chery chose Dalian. The reality is to choose better to go abroad.

The Chery Automobile Complete Vehicle Project held a groundbreaking ceremony yesterday in the Dahai Bay Reclamation Area, Dalian Bonded Area. The project plans to produce an annual output of 200,000 vehicles, with a total investment of 4.7 billion yuan. The first-phase project covers an area of ​​1.2 square kilometers and will mainly produce Chery passenger car products. It is planned to be completed and put into operation in June 2011.

Dalian Chery Automobile Project is Dalian's first auto sedan project with independent intellectual property rights and taking into consideration of domestic and foreign markets. This project has fundamentally changed the history of Dalian without auto production projects and filled the blank of the automobile manufacturing industry in Dalian.

Yin Tongyue, chairman of Chery Automobile, stated that building a factory in Dalian was the first time that Chery had “stepped out of the provincial gate”, the northeast was an important industrial base of the country, and it was the cradle of the automobile industry; Dalian was the most dynamic city in the Northeast, and Chery chose Dalian. The reality is to choose better to go abroad.

"Next, Chery will build a Chery in Dalian, make Dalian Chery a model factory and become a business card for Dalian." Yin Tong leaps.

At the beginning of this month, there were rumours that Chery will join hands with Shaolin Motor to invest in a mini vehicle factory in Henan. The initial plan for fixed asset investment is 1.773 billion yuan, and the construction scale is to build an annual production base of 200,000 minicars, 80,000 light trucks and agricultural machinery.

However, Chery Automobile's Assistant General Manager and News Spokesman Jin Yibo said today that the previous rumors were not correct. The company will build new projects according to its own development needs.

It is understood that, as of August, Chery Automobile has sold 286,147 units in total. From January to August, it was always ranked No. 1 in sales of its own brands, with cumulative users exceeding 1.75 million, and its market share was 6.34%.

However, Chery did not sit back and relax. Several domestic independent brands are accelerating their development. Geely Automobile introduced Goldman Sachs as a strategic investor and attempted to expand the market through overseas mergers and acquisitions. Under the guise of Warren Buffett, BYD also developed rapidly. In the first 8 months, BYD's sales growth has been the highest.

Industry insiders pointed out that Chery invested heavily in building a complete vehicle project in Dalian, aiming to continue to maintain its position as the first independent brand through large production capacity.