Thailand to build Chery cars

Chery Automobile Co., Ltd. automobiles from China will be built in Thailand as planned despite the poor demand outlook for 2009, Thai Yarnyon Group President Vithit Leenutaphong said. Three Chery models including the QQ compact car, the five-seater Tiggo sport-utility vehicle and seven-seater Cross multi-purpose vehicle, will be assembled at Y.M.C. Assembly Co. in Lat Krabang, a suburb in Bangkok, Thailand. Chery automobiles shipped to countries that are members of the Association of Southeast Asian Nations (ASEAN) will enjoy lower taxes under the ASEAN Free Trade Area (AFTA) when Chery production can achieve at least 40% local contents, according to Damrong Damrongkulwat, managing director of Thai Chery Yarnyon Co., a joint venture between Thai Yarnyon Co., Ltd. and Charoen Pokphand Group, Thailand’s largest agro-industrial conglomerate. (January 14, 2009)