Gasgoo.com (Shanghai November 16) - The Chery-Quantum joint venture's public relations office has announced today that they will make an official announcement regarding their new JV brand next Monday, the Beijing Youth Daily reported. The announcement will include details on the brand's mission and strategy, as well as production capacity predictions, a timetable for new releases and dealership information.

Earlier this year, the National Development and Reform Commission (NDRC) approved the joint venture's request to change the location of its new factor from Wuhu, Anhui to Changshu, Jiangsu. The JV is already in the process of designing new models. According to the NDRC announcement, the JV will focus on building sedans and SUVs, as well as conduct engine research and development. The new production site will have a starting production capability of 150,000 units, 40 percent of which will be destined for overseas markets. The vehicles will fit on the high end of Chery's spectrum and carry the JV's new brand name.

Speaking on behalf of the venture, Chery Deputy General Manager Guo Qian said that the new brand's focus would be on overseas markets, with its first model being aimed at the 100,000 yuan ($15,756) mid-class segment. Mr. Qian added that a dealer network for the new brand would be built in China as well. However, it remains to be seen if a new brand would further complicate Chery's domestic dealer network, which currently includes outlets specializing in the Riich, Rely and Karry brands in addition to Chery-branded dealerships.

Source:gasgoo