Qoros, the joint venture between the Israel Corp. and China’s Chery based on the business model of designing the cars in Europe and building them in China, took an important step as it introduced their Qoros 3 sedan to the Chinese market at the Guangzhou Auto Show. The car had earlier been shown to the public at the Geneva auto salon, but this is the first time it has appeared before an audience in its most important market. Qoros also announced that the first authorized Qoros dealer in China has been opened in Nanjing. dealers. The 3 sedan will be priced between 119,900 yuan ($19,680) and 167,900 yuan ($27,560), and it will be only the first model announced from what Qoros says will be a new model introduced to the Chinese market every six months for the near future. The next model is likely to be a compact crossover. (Read More…)
Automotive startup Qoros Auto Company has an interesting business model. Backed with the manufacturing know how of China’s Chery corporation, and the funds of the Israel Corp. holding company, controlled by the Israeli Ofer family, Qoros is designing cars in Europe to be sold in Europe, but built in China.
Malcolm Bricklin’s company, V Cars (formerly Visionary Vehicles), was awarded $2 million by a Detroit jury in U.S. District court. The lawsuit was filed after Bricklin’s failed effort to set up a joint venture with Chery to produce Chinese made cars for the North American market. The jury ruled that KCA Engineering, a company founded by former Visionary executive Dennis Gore while he was still an employee of Bricklin’s startup, had committed fraud as well as a number of other misdeeds. When Gore was first hired by Visionary, Bricklin said it was because of his expertise with Asian car manufacturers.
BMW Mini’s former chief designer Gert Hildebrand and Volkswagen’s former North America vice chief Volker Steinwascher enjoyed the adolations of the adoring masses when they unveiled their new Qoros brand at the Shanghai Auto Show. (Read More…)
The Chinese-Israeli co-production Qoros has not sold a single car yet, but it already finds itself in the legal hot seat. Via a temporary injunction of a court in Hamburg, Germany, Audi precluded Qoros from using – the letter Q.
At the Geneva auto show, the long awaited Chinese attack on the embattled European auto market will finally get started in earnest – with the help of German and Austrian engineers, and money from Israel. Qoros is a joint venture partnership between China’s Chery and the Israel Corporation. Qoros wants to be to Chery what Lexus is to Toyota and Acura to Honda. It also wants to be the key that unlocks foreign volume markets.
China might be going on a deadly brand binge as Bertel prognosticated. Here is a new brand that at least is worth a look: Qoros. It is a joint venture between Chery Automotive and Quantum LLC from Israel. The joint venture had been approved way back in 2007, but things slowed down soon after that – in 2008. Now they are back, with a very first concept car that looks – well, it looks like a cow. (Read More…)