Chery and GAC still continuing negotiations

Gasgoo.com (Shanghai July 30) - Following its initial signing last November, there have been no new developments regarding the proposed cooperation between Chery Automobile and Guangzhou Automobile Group, with many presuming that negotiations had already stopped. However, in a report appearing on auto.qq.com earlier this week, Chery General Manager Yin Tongyue stated that discussions between the two companies are still taking place, adding that substantial progress has been made. Mr. Yin made the comments at a press release for the upcoming Arrizo7 sedan.

"There has been substantial development [regarding] the cooperation," Mr. Yin said. "Some projects have already reached the announcement stage," he added.

On the other end, GAC Deputy General Manager Huang Xiangdong also commented that cooperation between the two manufacturers was progressing smoothly. "[Although] we can't comment specifically on agreed projects, technological cooperation has already begun," Mr. Huang mentioned.

Chery and GAC signed a strategic partnership agreement at the Diaoyutai Hotel in Beijing last November. The two manufacturers agreed to conduct joint research and development of automobiles, core technology and auto parts. They will also cooperate in production and other fields.