No factory, no model names and no dealership network. Yet, Qoros hopes to succeed in a crowded auto market.
Qoros launch Image: Qoros |
In China there are already 93 brands vying for a piece of the world's largest auto market, making Qoros Auto Co the 94th company to join the party.
Slowing sales and over-capacity warnings have not deterred Qoros Vice Chairman Volker Steinwascher, who still sees room for a foreign-designed, resonably-priced car in the Chinese market.
“The world”, according to Steinwascher, “does not need another car brand... But the situation in China is different.” The 69-year-old former Volkswagen executive believes the large numbers of first time buyers who have no particular brand loyalties will make it easier for a start-up company to prosper. With a 16 billion yuan ($2.5 billlion) investment, Qoros - a joint venture between Chery Automobile Co and Israel Corp - is certainly putting its money where its mouth is.
The company's all-star team is comprised of former GM, VW, Jaguar Land Rover, Volvo and BMW employees that aim to inject some “European DNA” into the young company. Among the team is the chief designer Gert Hilderbrand, a former Mini employee, who says the new cars will have “simple lines, maximum stretch and a very strong face” and will share the elegant aesthetic of an Audi A4 or BMW 3 Series.
While officially partnered with Chery Automobile Co, the Chinese manufacturer has not made mention of sharing production facilities or dealership networks, which will make Qoros' job in a competitive market challenging.