TURKEY: China's Chery eyes Turkey investment
Chery is considering investing in a carmaking facility in Turkey, a move which would broaden its internationalisation strategy and offer a possible route into the EU, with which Turkey has a customs union.
Yin Tongyao, president of Chery, and his deputy Zhou Biren, visited Turkey's Adapazari, Bursa and Kirklareli areas to look for a suitable spot for investment.
Reports says that Chery is considering making two models in Turkey.
Yin and Zhou first visited Istanbul, to inspect the Europe Spare Parts Logistics Center, said Murat Mermer, Vice President of Mermerler Otomotiv, Chery's distributor in Turkey. Chinese executives then went to see three provinces to decide on a possible investment. They were accompanied by Mermer and his General Director Oguz Eken, who gave information to Yin and Zhou on currently active plants in the three regions.
Starting from 2010, Chery will start selling a luxury brand in Turkey, said Yin, adding that they will also sell heavy vehicles. "We came here to be a Turkish brand, not to be cheap," he said.
"Turkey's geographical advantage is of crucial importance to Chery," Mermer said. "The company wants to be in Turkey."
The possible investment will be a joint venture between Mermerler and Chery.
The Anatolia News Agency said that Chery has sold more than 2,000 cars in Turkey since April, and is targeting 5,000 units for this year.
The most popular model of the Chinese company is the Tiggo.