Qoros
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| Private joint venture | |
| Industry | Automotive |
| Founded |
Wuhu, Anhui, China, 2007 |
| Headquarters | Shanghai, China |
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Area served
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China |
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Key people
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| Products | Automobiles |
| Owner |
Chery Automobile Co., Ltd. (50%) Kenon Holdings (50%) |
| Website | qorosauto.com/en/ |
| Qoros | |||||||
| Simplified Chinese | 观致汽车 | ||||||
|---|---|---|---|---|---|---|---|
| Traditional Chinese | 觀致汽車 | ||||||
| Literal meaning | Qoros Auto Co., Ltd. | ||||||
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| Transcriptions | |
|---|---|
| Standard Mandarin | |
| Hanyu Pinyin | Guānzhì qìchē |
Qoros Auto Co., Ltd. is a Chinese automotive manufacturing company headquartered in Shanghai, China. Its principal activity is the design, development, production and sale of passenger cars sold under the Qoros marque.
It was founded as a joint venture between Chery and Israel Corporation in December 2007 under the name Chery Quantum Automotive Corporation (CQAC); the name was changed to Qoros Auto Co., Ltd. in November 2011. The current partners are Chery and Singapore-based Kenon Holdings, which controls Israel Corp's investment.
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 and went on sale in China in November 2013.
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.
Chery Quantum Automotive Corporation was registered as a company in Wuhu, Anhui Province, China 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 Organization and amid a phase of rapid growth in vehicle production and sales. CQAC opened an office in Shanghai in September 2008.
In June 2009, the respective shareholdings of Chery Automobile and Israel Corporation were changed from 55/45 to 50/50, with Chery losing majority control. In October 2009, CQAC signed a cooperation agreement with Magna Steyr.
In June 2010, CQAC relocated its production plant to Changshu Economic & Technological Development Zone following an in-depth appraisal. A month later the company announced that its two shareholders would increase their investment in the venture by RMB 2.25 billion apiece.
In October 2011, construction of the first prototype was completed and on 28 November 2011, CQAC was renamed Qoros Auto Co., Ltd. A formal unveiling ceremony was held at Changshu, Jiangsu Province, China.
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Wikipedia