Ambitious Chery Mercosur Eyes Growth

Chinese automotive company Chery Automobile and Socma of Argentina have joined forces to create Chery Mercosur, the joint venture set to manufacture and sell vehicles in the Mercosur region. The project will entail an investment of US$100mn and production will be based in Uruguay. Chery holds a 51% stake in the joint venture, while the remaining 49% is held by Socma.

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