{"id":11384,"date":"2011-11-28T03:11:05","date_gmt":"2011-11-28T03:11:05","guid":{"rendered":""},"modified":"2011-11-28T03:11:05","modified_gmt":"2011-11-28T03:11:05","slug":"China-s-Newest-Car-Brand-Qoros","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=11384","title":{"rendered":"China\u2019s Newest Car Brand: Qoros"},"content":{"rendered":"

As brands mushroom in China\u2019s slowing auto market, worries of a shake-out are mounting. Yet, despite the fear, more auto brands are being launched in China, and existing global brands are piling in to grab a piece of the world\u2019s biggest auto market. The latest addition: a new brand called Qoros launched officially Monday by investment firm Israel Corp. and China\u2019s Chery Automobile Co.<\/strong><\/p>\n

Qoros Automotive Co., a 50-50 joint venture between the two companies, is led by Chief Executive Officer Guo Qian, a Chery official, and former Volkswagen AG executive Volker Steinwascher, who serves Qoros as vice chairman. Mr. Steinwascher said in a telephone interview over the weekend that Qoros is aiming to generate annual sales of about 150,000 vehicles a year by 2015 or 2016. It plans to manufacture those cars at a plant in Changshu, a city northwest of Shanghai, and market roughly half of those vehicles in China and export the rest to Europe. The company, Mr. Steinwascher said, is currently developing three compact cars, one of which is a sedan and is expected to hit the market in China and Europe by the end of 2013. The brand\u2019s competitive edge, according to Mr. Steinwascher: cars that have been designed by \u201cseasoned\u201d engineers with experience in working for companies like Volkswagen and BMW AG \u2013 and sell some \u201c10% lower\u201d in retail prices compared with comparable Volkswagen cars marketed in China. Qoros engines are being designed by Austrian engine-technology firm AVL List GmbH. and will be produced and supplied by Chery.<\/p>\n

Qoros cars, Mr. Steinwascher said, \u201ccombine German design quality and craftsmanship with Japanese convenience and functionality\u201d to appeal to \u201cyoung, international-minded, urban consumers\u201d in China. Those target consumers are \u201clooking for quality and distinctive styling, and they\u2019d like to be connected even when they are driving,\u201d the Qoros executive said. As ambitious as Mr. Steinwascher and his new China auto brand may be, the field is already becoming crowded, even before Qoros\u2019 first car hits showrooms in late 2013.<\/strong><\/p>\n

SOURCE<\/a>
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