|Type||Private joint venture|
|Key people||Guo Qian (CEO and President)
Volker Steinwascher (Vice Chairman)
|Owner(s)||Chery Automobile Co., Ltd. (50%)
Israel Corporation (50%)
|Literal meaning||Qoros Auto Co., Ltd.|
Qoros Auto Co., Ltd. is an Israeli-Chinese 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 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 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 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.
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, construction of the first prototype was completed.
In December 2011, the company released an image of its first prototype, which made its first public appearance at the Geneva Motor Show in March 2013 with the Qoros 3 sedan pre-production model, together with the Qorus 3 Estate Concept and Qorus 3 Cross Hybrid Concept.
In September 2013, the Qoros 3 achieved a five-star rating in the Euro NCAP crash tests, making it the first ever Chinese car to achieve such a rating. It also received the highest score for safety of any car reviewed by Euro NCAP during 2013.
There is currently just a single Qoros production model, the Qoros 3, which went on sale in China in November 2013.
Qoros concept cars include:
- Qoros Flagship Concept (2012)
- Qoros HQ3 Cross (2012)
- Qoros 3 Cross Hybrid Concept (2013)
- Qoros 3 Estate Concept (2013)
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.
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