Chery has officially started doing business in Brazil this week.


The Estado newswire reported that Chery plans to have 55 car lots in 14 Brazilian states by the end of the year.


Chery’s Brazilian president, Luis Curi, said the company still plans to build models in Brazil in three years.


‘The cost of building cars in Brazil is pretty close to what it costs in China,’ Curi said.


Chery will first import cars, beginning with its Tiggo SUV.


Chery hopes to sell 2,500 Tiggos in Brazil this year, Dow Jones reported.