Chery, China Postal ink strategic cooperation deal

Chery, China Postal ink strategic cooperation dealSource : China Knowledge [Posted on Sept 1,2008 at 17:18]Chery Automobile Co. Ltd, one of the leading home-grown auto makers in China, has inked a strategic agreement with China Postal Group (CPG) on Aug. 28 to further expand their cooperation, said industry sources.

Pursuant to the agreement, Chery Auto is granted to provide postal vehicles to China Postal when the latter makes car purchasing decision. At the same time, Chery Auto is able to expedite its product transportation (including whole vehicles, parts and components) both domestically and internationally through leveraging China Postal's comprehensive logistics networks and its storage resources.

China Postal will provide Chery Auto a wide range of financial products and services including extending credit and bankroll settlement, etc.

The two parties, which have been cooperating for many years, will maintain their good business relationship in the future, said Zhang Ping, Vice Manager of Chery Auto, adding that the cooperation is another significant move for both sides to carry out their business strategy.