Chinese car manufacturer Chery said Monday it planned to launch its first car on the Brazilian market within the next three years, according to the IG website.
According to Luís Curi, chairman of the company in Brazil, the S18 – the name of the mdoel – will be exclusively sold in Brazil.
Chery Brazil plans to open its first factory in the country by 2013.
The Chinese manufacturer’s plan is to have a 4-5 percent share of the Brazilian market by 2015 and production of 5 million units per year.
Curi also said that three Brazilian states were vying to be home to the Chery factory but said a final decision would be made in the second half of the year.
The Chery group has been developing three engines with flex technology in Brazil.
The Chinese manufacturer’s plan is to launch the S18 using only components produced in Brazil.