QOROS: Chery-Quantum JV company

[UsmanAnsari]

The Japanese Three of Nissan, Toyota and Honda decided that their run of the mill brands were far too bland to take on the luxury segment, so they came out with Infiniti, Lexus and Acura to target the the high end segments that were being dominated by the German Three consisting of BMW, Mercedes and Audi and also the American Two luxury brands, Cadillac, Lincoln, and possibly Chrysler. Now Chinese manufacturers face a similar problem, Chinese cars have a reputation for being low cost and ultimately low down on the shopping list when it comes to car shopping, even Chinese consumers are not in a rush to buy a Chinese car with the majority of the Chinese car market being dominated by foreign manufacturers.

Chery wants to change that, they partnered with Israeli Corp’s Quantum LLC in 2007 to make a range of high end cars for the Chinese market and export markets.Israeli Corp are flush with cash and want to make cars, Chery on the other hand are making good cars but have a poor brand image, together they could change that. The partnership was given the go ahead by the Chinese government in December 2007 but the company went to ground and no news was heard from them until recently.

The new brand, Qoros, was officially born yesterday. At the joint press conference between Quantum LLC and Chery in Shanghai, the new home of Qoros, officials from both companies were eager to put forward their plans for the company, showing their new logo and also first concept car. Both companies have invested around 3.4 billion RMB in capital into the company which should see its first car hit the roads in 2013. Qoros won’t be another Chinese company aiming to export its models, instead Qoros is staffed by largely international talent at the top of the company with former Volvo, GM, VW and Jaguar Land Rover staff on board. The Vice Chairman, Mr. Volker Steinwascher claims that Qoros is aiming to produce annual sales of 150,000 vehicles by 2015 or 2016 with roughly half of those sales being to the international market. The first three cars will be compact models designed from scratch in partnership with Chery, the engines are already being designed by the Austrian tech firm AVL and will be produced by Chery, although Chery already produces its own ATECO engines. According to Chinese press reports Qoros will be a premium brand designed by industry leaders and be on par with current premium brands in terms of quality and engineering but sell at around 10% less than current manufacturers. The first car is expected to be a compact sedan, a compact hatchback and also a small SUV will follow, Qoros are also expected to produce EV versions of their models as well.

Qoros – the new international brand that you’ve never heard of | China Auto News

[UsmanAnsari]

The new joint venture between Chery and Quantum has officially adopted the Qoros name for its company, China Business News reported today. The venture was established in 2007 with a 3.4 billion yuan ($533.77m) registration fee.
Despite the fact that both Chery and its Israeli partner Quantum having a 50 percent share of the new venture, all of the intellectual rights will stay in China. According to Guo Qian, JV president and board chairman, Qoros vehicles will adhere to European standards and be destined for export to foreign markets. The brand is scheduled to begin business overseas in 2013.

The Qoros venture has brought Gert Hildebrand, chief designer of the Mini, out of retirement to join its design team. Former top-level VW executive Volker Steinwascher, meanwhile, will be representative of Quantum's parent company. The venture has also managed to attract managerial, engineering and design talent from international manufacturers such as GM, Jaguar Land Rover, Saab and Opel. On the supplier side, Qoros has the support of several internationally recognized suppliers, including Magna Steyr and Bosch.

Chery-Quantum JV company officially adopts Qoros name

[usmanulamin]

is that a car behind those people...? :S

[UsmanAnsari]

Aiming to be an “International Brand”, Qoros, a joint-venture established by Chery and an Israeli group with half-half ownership ratio, held its unveiling ceremony in Shanghai earlier this week. After the failed alliance between Subaru, and an unclear joint venture with Jaguar Range rover, Qoros, may be a incentive to thrust Cherry into the premium market which it has aimed to enter for so long.

Qoros, with initial registered capital of 3.4 billion USD and a production base located in Changshu, R&D center in Shanghai, has an initial production capacity of 150,000 units.

Guo Qian, the Chairman of BoD and General Manager of Qoros said that, in the past 4 years, Qoros recruited and formed an international team dedicating to building cars that meet and exceed European standards.This is a shinning team. Apart from Guo Qian, who is the Deputy General Manager of Chery, Volker Steinwascher, Vice Chairman of BoD, was once the Vice Chairman of Volkswagen North America, the chief designer, Gert Hildebrand, was the Design Director of MINI. Moreover, Qoros has invited a large number of professionals in technique and management, all of which are big names in the automotive field. International talent is the backbone of Qorus, Guo Qian said, furthermore Qoros has different R&D resource, suppliers and sale channels, which are not shared with Chery.

According to reports, the first product will be a compact saloon, which it places against the Volkswagen Sagitar. In 2013, it will be on the market in China and Western Europe market simultaneously. Within two years after being put into production, Qoros will launch another three new products, including a hatchback, SUV and an electric car.

The main target users in China are urban consumers. Qoros believes that these urban consumers are interested in pursuing elegant products, excellent workmanship, a strong end user experience, and they cannot tolerate quality defects and even simple plagiarism. According to the plan, 40% of Qoros produced in China will export to overseas market.

Chinese Car News | Qoros: Say no to Cherry, Say Hi to Volkswagen and Toyota | China Car Times - China Auto News

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[UsmanAnsari]

Chery-Quantum is a joint venture between Chery Auto of China and Quantum LLC from Israel. They will make ‘luxury cars’ for the Chinese market and for export to Europe. Their new brand-name is Qoros, the first Qoros branded car has to hit the market by 2013. In late November, Qoros showed an awkward design-study vehicle, however the real thing seems to look a whole lot better.

Their factory is based in the great city of Changshu in Jiangsu province and the RD Center in Shanghai. Quantum and Chery have so far invested 3.40 billion yuan (534 million US dollars). Engines will be newly designed by the Austrian company AVL and made in China by Chery. What sort of engines will be used is yet unsure but considering the fact that Qoros wants to compete with the likes of Acura, Luxus, Infiniti, Volvo, and ultimately the German Three, there should at least be a V6.

Earlier sketches from the Qoros sedan, made by chief designer Mr. Gert Hildebrand.

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