Chery Automotive Company says it will release five new models next year including a hybrid. The new models include a sedan and four hatchbacks. Chery president Yin Tongyao, said the new hybrid, codenamed ISG, is based on the company's A5 and will be fitted with a 1.3-liter gasoline engine in addition to the electric motor. The hybrid vehicle is currently being tested in Wuhu City in eastern China where the company is based.
Chery plans to introduce new models next year in China to try and retain its share (only 7.2 percent) in China, which is considered the second-largest auto, market in the world. Rising personal incomes in China have made automobiles affordable for more people. Chery, which is affiliated with Chrysler, LLC, is the fifth largest car company in China. They sold more than 200,000 units in the first half of 2007 and plan to sell more than 400,000 during the year.
Tongyao seems to understand Chery's position in the world market. "We are still tiny," he said. "We need time to improve ourselves." No matter how low the vehicles are priced, they cannot succeed in Europe or the U.S. without high quality.
