SHANGHAI (AP) -- Chinese automaker Chery Automobile Co. and partner Israel Corp. are launching a new brand, seeking fresh appeal both overseas and in the slowing local market.
The companies said the 50-50 joint venture Qoros, introduced Monday at Shanghai's former Expo zone, intends to be one of the first Chinese car makers to meet stringent 2013 Euro auto safety standards.
Chery and Israel Corp., an industrial holding company, originally launched their joint venture as Chery Quantum Auto Co., in 2007.
They said Qoros plans to introduce its first model, a compact sedan, in China and Western Europe in 2013.
