Chery and Sinopec forms strategic alliance
Shanghai. October 22 (Gasgoo.com) - Chinese auto-maker Chery signed strategic cooperation agreements with China Petroleum and Chemical Corporation (Sinopec) last Friday,
Under the strategic cooperation agreement, Sinopec will supply oil products to Chery for its auto research, development and production; Sinopec will also provide technical support to assist Chery developing green energy vehicles.
Meanwhile, Chery’s after sales service stations will recommend Sinopec oil products to its customers Xinhua said.
Separately, Chery's Iran's counterpart Khodro will pay Chery in crude oil in the future for auto parts it purchased from Chery, and in turn Chery can sell the crude oil to Sinopec in return for oil products.
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