China’s Chery Pact With Chrysler – John Stoll and Neal Boudette

From The Wall Street Journal:

The first significant shipments of inexpensive Chinese-made cars into the U.S. market are likely to begin arriving in a little over a year with the help of one of Detroit’s own — DaimlerChrysler AG’s Chrysler Group.

In a long-expected announcement, Chrysler said Friday it signed a letter of intent with Chery Automobile Co. that calls for the Chinese auto maker to build subcompact cars to be sold by Chrysler in the U.S., Western Europe and other markets around the world.

The first model would probably arrive in the U.S. in 2008, and likely would be capable of achieving the 30 miles per gallon or better that is typical for subcompacts. It could be followed by other, possibly larger, vehicles in the future, a person familiar with the matter said.[Full Text]

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