Chery automobiles will be assembled in Thailand after a deal has been concluded between Chery and local operation Thai Chery Yarnyon to assemble KD kits.
The Bangkok Post reported that the agreement was signed by Chery president Yin Tongyao and Thai Chery Yarnyon senior executive Vithit Leenutaphong in Shanghai.
Thai Chery Yarnyon was jointly established by Thai Yarnyon Co and the agro-industrial conglomerate Charoen Pokphand Group.
Both partners agreed to invest at least one billion baht in the automobile production project in Thailand.
Chery QQ compact cars and Tiggo SUVs are expected to be initially assembled from semi-knocked-down kits at about 5,000 units per year for domestic and ASEAN markets.
Details on timing and exactly where the new plant will be are unavailable, but the report suggested that unused plants belonging to the Yontrakit Corporation could be utilised.