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Automotive Industry – Chinese Autoclave Chery wants to roll up Europe News

Saturday, August 26th, 2017 | Economy

"We are not currently active in the mergers and acquisitions market," said Chen Chening, CEO, in the Reuters interview last week. His company, however, is always open to cooperative ventures and would look at a suitable purchase case, if necessary. Only recently, the domestic rival Great Wall Motors had registered interest in Fiat Chrysler (FCA). In 2010, the Chinese competitor Geely bought the Swedish manufacturer Volvo.
Chen wants to achieve that Chery future one third of its vehicles abroad. When this is the case, however, he did not say. At present, the share is a quarter. In particular, Chen has the market in Western Europe. Among other things, he is focusing on high demand for environmentally friendly drives. Chery is also in the business with electric cars. Chen, on the other hand, cautiously turned to political uncertainties in North America. US President Donald Trump has recently tightened his tone in the trade dispute with China.
Chery is, according to his own information, the most popular Chinese Automarke abroad. There, the company achieved a sales of well over 88,000 cars in 2016. It already has an international sales network and 14 foreign manufacturing facilities, such as in Brazil, Iran and Venezuela.
(Reuters)

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