Chery in alliance with steel manufacture magnates

Sources say Chery has established strategic cooperative partnership with three steel magnates in China, including Baoshan Iron & Steel Co.,Ltd, Wuhan Iron& Steel(Group)Corp and Magang (Group)Holding Company Limited. The move further ensure Chery's development goal – to achieve annual production of more than 1 million vehicles.

In order to meet Chery's demand for raw materials and maintain the strong momentum of rapid growth, Chery not only has won over promotional policies from the three companies, but actively pursue a strategic partnership with the three parties to realize a win-win economical profit. Listing in the Top Fortune 500 company, Baosteel offered personalized service to Chery regarding on-line purchasing and also opened a service center at Anhui Wuhu; The third largest steel manufacturer in China Wuhan Steel has deepened its cooperation both on good delivery and product development, meantime the Weishike technology plant co-established by the two companies has already began operation this January; With a total investment fund of RMB25 bn, the annual output value of Magang steel production base can reach 30 billion after installation.