Qoros Auto Company Ltd., the joint venture of Israel Corporation (TASE: ILCO) and China's Chery Automobile Co. Ltd. has become the first Chinese carmaker to win a five-star score from Euro NCAP for its Qoros Sedan 3. The car exceeded the minimum levels required for the safety of drivers, passengers, and pedestrians.
Qoros will begin sales of its first model, the Qoros 3 sedan, in China in a few months. The company's production line can produce 150,000 cars a year, and will grow to 450,000 cars a year, subject to further investment and regulatory approval by the Chinese authorities.
Few Chinese carmakers have submitted their cars for NCAP tests, and many have performed less well than Qoros. Euro NCAP is a Brussels-based association whose members include governments and motoring and consumer groups.
"It is important for us to show we are different," Qoros head of development Roger Malkusson told "The Wall Street Journal. "We want to show that we are a high-quality brand…that we are really unique."
"The Wall Street Journal" quotes an NCAP official as saying, "The small family car showed good overall protection with high scores in all four areas of assessment and is a significant step up from previous Chinese exports."
Published by Globes [online], Israel business news - www.globes-online.com - on September 29, 2013
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