Chinese company signs deal with Daimler Chrysler: targets annual output of 1million vehicles by 2010

Chery targets annual output of 1million vehicles by 2010: report - MarketWatch
By China Bureau
Last Update: 12:46 AM ET Jul 9, 2007

BEIJING (MarketWatch) -- Chinese carmaker Chery Automobile Co. plans to raise its annual output to 1 million vehicles by 2010, the Xinhua News Agency reported over the weekend, citing unnamed company sources.

The company plans to increase its production capacity by 200,000 vehicles to 700,000 this year, Xinhua said. Chery expects sales in North America and Europe to reach 300,000 to 500,000 vehicles in 2019, the report said.

Chery signed a deal with DaimlerChrysler AG's (DCX.XE) Chrysler Group last week through which Chery will build cars for export under Chrysler brand names.