Chery Auto to road test three electric models in U.S.

Shanghai November 11 (Gasgoo.com) Chery Auto will start road-testing three of its electric models in North America in three months, aided by Cerberus Capital Management LP, the $21 billion New York-based buyout firm, the China Youth Daily reported Thursday, citing Yuan Tao, general manger of Chery New Energy Automobile Technology Co., Ltd..

The test will last for around eight months. If everything goes well, Chery will bring its S18 all-electric model to U.S. for a trial run then. Meanwhile, Chery will further improve the model in accordance with EU standards, planning to initially take it to Germany, Yuan Tao said at the 25th World Battery, Hybrid and Fuel Cell Electric Vehicle Symposium and Exhibition held in Shenzhen on November 5.

The Anhui-based automaker launched its Chery Ruilin M1-EV on the same day, receiving more than 300 orders on the spot. Also built on the platform of the S18 model, this small electric car is powered by 45/60Ah lithium batteries and has a top speed of 120km/h on a single charge, giving a mileage of 150 km per liter. The car is priced between 149,800 yuan and 229,800 yuan ($22,600-$34,600).

In addition, Chery released its Ruiqi X1 extended range electric SUV, which gives a mileage of more than 300 km per liter and will likely be introduced to the U.S., along with the Ruilin M1-EV, after both being remade. 

Cerberus Capital Management LP, having successfully implemented many new energy vehicle projects in North America and Europe, will help the Chinese automaker enter into the American market through conduction of demonstration projects and market operation.

By 2015, the global electric vehicle charging equipment market is predicted to generate $1.9 billion in annual sales, of which China's annual sales will account for 47.8%, sources said.

The cooperation between Chery Auto and Cerberus Capital Management LP will on the one hand help promoting Cerberus's Minit-Charger technology in China, and on the other hand pave the way for ECOtality's investment in China.

ECOtality Inc., headquartered in San Francisco, CA, is a leader in clean electric transportation and storage technologies, and partly controlled by Cerberus Capital Management LP.