Six years after its formation, Chinese-Israeli brand Qoros has sold its first car.
The 50-50 joint venture between Chery Automobile and Israel Corp. aims to "develop Western-standard vehicles for China's domestic market as well as for export."
China is the world's biggest car market, and it's flooded with European and American companies looking to reap the benefits.
To compete with products from BMW, Mercedes-Benz, Ford, GM, and others, Qoros needs to offer something on their level.
In a press release, it explained, "Based on in-depth research of how modern metropolitan lifestyles and driving needs are best met, the Qoros 3 Sedan has been developed to European standards of safety, refinement, and quality."
In other words, modern Chinese customers want cars made to European standards.
Qoros vehicles are designed and engineered in Germany. They are built in Changshu, China, where the company is headquartered. The company says its "all-new, highly efficient" facility can produce 150,000 cars per year, and capacity "can be easily raised to 250,000 cars."
The first Qoros customer is 28-year-old interior designer Yu Min. He got the keys to his macadamia brown sedan from Qoros Vice Chairman Volker Steinwascher. The Qoros 3 starts for RMB 119,000 ($19,668).
The company will introduce its second production model at the Geneva Motor Show in March.
Founded in 1997, Chery Automobile is the largest automaker in China, with more than 20 models on the market.
Here's a better look at the Qoros 3:
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