Qoros Auto Co., Ltd. is an automotive manufacturing company headquartered in Shanghai, China and a 50:50 joint venture between Chery Automobile and Israel Corporation. It was founded in December 2007 under the name Chery Quantum Automotive Corporation (CQAC); the name was changed to Qoros Auto Co., Ltd. in November 2011. The partners are investing an initial US$1.5 billion in the venture. The first Qoros production model, the Qoros 3, made its first public appearance at the Geneva Motor Show in March 2013.
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Founded
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2007 (Wuhu City)
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Headquarters
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Changshu, Jiangsu, China
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Area served
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China
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Key people
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Guo Qian (CEO and President)
Volker Steinwascher (Vice Chairman)
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Owner(s)
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Chery Automobile Co., Ltd. (50%)
Israel Corporation (50%)
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Website
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Name
Qoros is an invented word. The Q is intended to represent quality, and the whole name to echo the Greek chorus, a collective voice in plays and music, reflecting the multinational nature of the company.
History
Chery Quantum Automotive Corporation was registered as a company in Wuhu City, Anhui Province in December 2007. The establishment of the company took place during a peak time in the development of China's automotive industry, following the country's joining the World Trade Organizationand amid a phase of rapid growth in vehicle production and sales.
CQAC opened an office in Shanghai in September 2008.
In June 2009 the shareholding proportion between Chery Automobile and Israel Corporation was changed from 55/45 to 50/50, with Chery losing majority control.
In October 2009 CQAC signed a cooperative contract with Magna Steyr.
In June 2010 CQAC relocated its production plant to Changshu Economic & Technological Development Zone following elaborate appraisal.
In July 2010 CQAC announced that its two shareholders would increase their investment in the venture by RMB 2.25 billion apiece.
In October 2011 the first prototype’s building was completed.
On 28 November 2011, CQAC was renamed Qoros Auto Co., Ltd. A formal unveiling ceremony was held at Changshu City, Jiangsu province.
In December 2011 the company unveiled an image its first prototype, and made the first public appearance at the Geneva Motor Show in March 2013 with the Qoros 3 sedan pre-production model, together with the concept 3 Estate and 3 Cross Hybrid.
CQAC opened an office in Shanghai in September 2008.
In June 2009 the shareholding proportion between Chery Automobile and Israel Corporation was changed from 55/45 to 50/50, with Chery losing majority control.
In October 2009 CQAC signed a cooperative contract with Magna Steyr.
In June 2010 CQAC relocated its production plant to Changshu Economic & Technological Development Zone following elaborate appraisal.
In July 2010 CQAC announced that its two shareholders would increase their investment in the venture by RMB 2.25 billion apiece.
In October 2011 the first prototype’s building was completed.
On 28 November 2011, CQAC was renamed Qoros Auto Co., Ltd. A formal unveiling ceremony was held at Changshu City, Jiangsu province.
In December 2011 the company unveiled an image its first prototype, and made the first public appearance at the Geneva Motor Show in March 2013 with the Qoros 3 sedan pre-production model, together with the concept 3 Estate and 3 Cross Hybrid.
Future production models
.JPG "Qoros 3 Sedan (2013)") |
| Qoros 3 Sedan (2013) |
Concept cars
- Qoros Flagship Concept (2012)
- Qoros HQ3 Cross (2012)
- Qoros 3 Cross Hybrid Concept (2013)
- Qoros 3 Estate Concept (2013)
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In June 2009, CQAC’s shareholding proportion between Chery Automobile and Israel Corporation was changed from 55/45 to 50/50, with Chery losing the majority controlling ownership.
The change has raised eyebrows in China’s auto industry. Before, Mr. Yin Tongyao, CEO and president of Chery Automobile Corp. had been insisting on two principles to the joint venture: "No cash to be injected to the venture; and, Chery must hold majority ownership". They were later given up by Chery.
The change has raised eyebrows in China’s auto industry. Before, Mr. Yin Tongyao, CEO and president of Chery Automobile Corp. had been insisting on two principles to the joint venture: "No cash to be injected to the venture; and, Chery must hold majority ownership". They were later given up by Chery.
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