Chery Automobile exports last year were reported to have risen 178% to 50,000 cars last year.
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The company’s overall car sales climbed 61% to 305,236 in 2006, following a 118% sales surge in 2005, Reuters said, citing the Xinhua news agency.
Subject to company board and government approvals, the automaker is set to supply DaimlerChrysler’s Chrysler Group with small cars for sale around the world, the report noted, adding that Chery will also soon supply Fiat with petrol engines for cars made both in China and overseas.
According to Reuters, the Xinhua report said Chery planned an IPO in 2008, possibly choosing both the mainland A-share market and the Hong Kong market.
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