Qoros Auto Company Ltd., the joint venture of Israel Corporation (TASE: ILCO) and China's Chery Automobile Company Ltd. today delivered its first car in China, six years after the company was founded, during which it developed models and opened a production line. Qoros VP Volker Steinwascher gave the Qoros 3 sedan to a 28-year old interior decorator from Shanghai.
The starting price of the Qoros 3 sedan is $19,600 for the Essence model with a six-gear manual transmission and 125-horsepower engine. The Qoros 3 Elegance model with automatic transmission and 154-horsepower engine will cost 167,900 renminbi ($27,700).
Qoros is mostly marketing its cars in China. The company also has a small representative in Slovakia to create a platform for sales in Europe in a few years.
The Qoros 3 is designed for the modern Chinese driver. It is equipped with advanced technologies, including an 8-inch touch screen for operating a mobile phone, built-in GPS, radio controls, and vehicle informatics. It also has the Qoros Cloud system for sharing information between the company and the driver's computer or smartphone to plan trips, obtain information about road conditions, and so on.
In late December Qoros announced the planned launch of its second model, which will be unveiled at the Geneva International Motor Show in March. The car will be available in China later this year.
Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2014
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