China's Chery Automobile Corp. will team up with foreign partners to expand its South American operations and build a new automobile plant in Argentina.$500 million will be invested in the plant. It will be managed by Chery Socma, a venture between Chery, Argentina's Socma Group, and Uruguay's Orefol.
By 2011, the facroty is projected to produce 50,000 cars annually. By 2012, the capacity will be double to 100,000. Most of these units will be exported to Brazil.
This is still in-line with Chery's plan to export 600,000 units by 2010.
News: Chery drives to Argentina for new plant_English_Xinhua
