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From DaimlerChrysler to CheryChrysler
04 July 2007
US car maker Chrysler has finalised its cooperative agreement with Chinese firm Chery.
Under the agreement, signed in Beijing by Chrysler boss Tom LaSorda and Chery chairman Yin Tongyue, the two companies will work together on a range of Chery-made superminis to be sold worldwide.
The arrangement means that Chrysler will sell rebadged and reworked Chery superminis and small cars, allowing it to expand into new markets. But Chery and Chrysler will also be developing a new car on a new platform. The Dodge Hornet concept (pictured) is likely to be that car.
International growth is an important part of Chrysler’s plan to return to profitability.
"This is the start of a very long relationship between Chrysler and Chery," said LaSorda. "[It] will have a nearly immediate effect on Chrysler Group's offerings in the small-vehicle segments. This strategic partnership is part of a new business model that is allowing us to introduce all-new products more quickly, with less capital spending."
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