Chery Faira YY Coupe

var addthis_config = {"data_track_clickback":true}; Like its Chinese counterpart Geely, Chery is also readying a spectacular number of new cars and concepts for the 2008 Beijing Auto Show. To be precise, Chery will exhibit 26 models and among them, a new series of mini cars that will be sold under the name Faira. The YY Coupe (ok, it’s just a 3door hatchback, but that’s what Chery calls

Will China's BYD Bring the F3DM to the U.S. or will this be Just Another Broken Promise?

When it comes to making cars, China is king. We’re talking the world’s largest car market, with over a hundred individual marques. So why is it that there are virtually zero Chinese car manufactures selling cars in the U.S. aka the world’s other largest car market? So far, China’s “Big Four” (well, the four most visible to those outside of China) have made and broken promises of bringing their

Whoa! REPORT: Chinese government approves of Chery's bid to purchase Volvo

Shanghai, March 6 (Gasgoo.com) Sources revealed yesterday that China's top economic planner has approved of Chery Auto's plan to buy the Volvo brand from Ford Motor, Shanghai-based Oriental Morning Post reported today. But the report is not confirmed yet by Chery Auto.
The media report added that another Chinese carmaker Dongfeng Motor has also submitted its Volvo-bidding plan to the National Development and Reform Commission (NDRC). However, the company's spokesman denied such a move yesterday.

Recently, several Chinese automakers such as Changan, Geely, Chery and Dongfeng have been reported to be in talks with U.S. auto giant Ford Motor for buying its Volvo brand in Europe.
In Feb. 12, Chery Auto president and CEO Yin Tongyao said that his company would not rule out the possibility of buying a troubled European auto brand. Volvo is believed to be one of the choices.

Changan Auto, Geely Auto and Dongfeng Motor are also rumored as potential buyers of Volvo. But Geely chairman Li Shufu denied such a plan yesterday, saying Geely has "no interest" in buying assets from overseas automakers this year as the company battles tumbling domestic demand.

Chery Auto received a 10 billion yuan ($1.47 billion) loan to fund its global growth from Export-Import Bank of China (China Eximbank) in December 2008. The company was also granted the flexibility of a credit line by the bank.

Ford put Volvo up for sale late last year to raise cash, but has found little interest in the brand, because many potential buyers are facing similar crisis and the nearly $6 billion needed for buying Volvo is a prohibitive price for most carmakers.

Source (via Autoblog.com);
http://www.gasgoo.com/auto-news/1009554/Chery-Auto-given-greenlight-to-buy-Volvo-brand.html