Chery Auto has said that it plans to start building six new factories overseas in 2009, taking its total to fifteen.
 
Xinhua reported that Chery chairman Yin Tongyue said at a press conference that Chery has set a sales goal of 156,000 units on the overseas market this year.
 
Chery, he said, has developed a global business layout that includes plants in many countries and regions including Thailand, Russia, Argentina and Uruguay.
 
The report added that Chery secured a CNY10bn bank loan from China Export and Import Bank (Eximbank) at the end of last year to support its global growth.
 
Yin said that part of the money would be used on construction of overseas CKD factories or the establishment of joint venture firms.
 
He also noted that the firm could use its funds for M&A activity.

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