SHANGHAI (AP) — Chinese automaker Chery Automobile Co. and partner Israel Corp. are launching a new brand, seeking fresh appeal both overseas and in the slowing local market.
The 50-50 joint venture Qoros Automotive Co., introduced Monday at Shanghai's former Expo zone, intends to be one of the first Chinese car makers to meet stringent 2013 Euro auto safety standards, the companies said.
Chery and Israel Corp., an industrial holding company, originally launched their joint venture as Chery Quantum Auto Co., in 2007. Since then, the company has kept a relatively low profile.
Originally, the plan was for Chery, one of China's biggest independent automakers, to contribute …
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