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Chery produces 800,000th car

(Xinhua)
Updated: 2007-03-06 14:53

Chinese carmaker Chery has produced its 800,000th car to become the country's first indigenous automaker to reach the milestone, the China Securities Journal reported on Tuesday.

The carmaker, established in east China'sAnhuiProvince in 1997, increased its annual output from 50,000 cars in 2002 to 189,000 in 2005 and 305,200 in 2006.

It is capable of producing 350,000 cars, 400,000 engines and 300,000 transmissions, according to the company website.

Last year Chery became China's seventh largest automaker and fourth largest producer of sedans.

The company plans to double its exports in 2007. Last year it exported 50,000 vehicles, up 178 percent over the pervious year.

Chrysler Group, the U.S.- German carmaker DaimlerChrysler's U.S. arm, has approved a plan to distribute Chery-made subcompact cars in north America and Europe.