Under the deal Chery and Chrysler will work together to develop, manufacture and distribute Chery-made small and sub-compact cars in the USA, Europe and other major automotive markets under the Chrysler Group brands.
Chrysler president and CEO Tom LaSorda joined Chery chairman and president Yin Tongyue to finalize cooperative agreement today.
“This is a win-win for both of our companies, and I am confident this will be a successful relationship,” said Tongyue.
“Chrysler brands are very well known in the USA and Europe. We're prepared to work with Chrysler Group to expand their small-vehicle line-up with competitive products and accelerate both our companies' international competitiveness," he added.
Chrysler will work with the Chinese car manufacturer to make any necessary branding and regulatory modifications prior to their entry into other markets. Both companies also will jointly develop new global products based on future Chery small-car platforms.
"This is the start of a very long relationship between Chrysler and Chery," said LaSorda.
“Chery’s participation in this agreement and their focus on small and sub-compact cars will have a nearly immediate effect on Chrysler Group's offerings in the small-vehicle segments. This strategic partnership is part of a new business model that is allowing us to introduce all-new products more quickly, with less capital spending," added LaSorda.