The joint venture between China’s Chery Automobile and Quantum, an American subsidiary of Israel Corp, announced plans to launch its first model in 2013. The mid-class sedan would carry the brand name Qoros and target both China and west European markets. The product plan also includes a hatchback sedan and a sport-utility vehicle (SUV) within two years after the first model is launched, followed by an electric vehicle. A 150,000-unit car manufacturing plant is under construction in Changshu, Jiangsu province. The 50-50 Chery-Quantum venture was set up in 2007 with a registered capital of CNY3.4 billion and was called Chery Quantum Auto. The company at the end of November unveiled its new name, Qoros Automotive Co. As a late market player, Qoros faces a big challenge to lift its brand awareness in the highly competitive auto market in China. Company Vice Chairman Volker Steinwascher said the Qoros brand would make vehicles combining European design and engineering technologies while meeting customer demand. “Quality, design, connectivity and simplicity, these are the key drivers of our brand,” Steinwascher added. The joint venture will run independently from state-owned parent Chery and develop its own models. The sedan was designed by Gert Hildebrand, a former designer for BMW Mini. The car is designed to meet the 2013 Euro NCAP Five-Star quality requirements. The Qoros vehicle would carry a price tag of between CNY93,379 and CNY127,335. Qoros Automotive has a research and development office in Shanghai.