The company plans to reach the mark of 100 electric cars produced per year by 2030 with its new factory. The US$ 400 million investment by automaker Chery Automobile is part of its plan to expand production in the Latin American market, where it will generate many jobs.

Chinese automaker Chery Automobile has a bold and intensive expansion plan in the Latin American market. The company announced the construction of a new factory for the production of electric cars in Argentina, generating new vacancies of employment during the works. The plant will have a value of US$ 400 million in investments and will help the company reach the mark of 100 cars produced per year by 2030.

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Aiming at the Latin American market, Chery Automobile announces a project to build a new electric car factory in Argentina 

Chinese automaker Chery Automobile has been investing heavily in its expansion throughout the global market, but mainly in Latin America.

Now, she has announced yet another audacious project for the automobiles electrified cars in Argentina, the construction of a new factory for the production of electric cars.

The plant will receive an investment of US$ 400 million, in addition to generating 6 direct jobs for residents of the neighboring country. With it, the automaker hopes to get ever closer to reaching its production target of 100 electric cars per year by the end of 2030.

The announcement of the new factory took place at a meeting held in the Chinese city of Wuhu between the vice president of Chery International, Zhang Shenghan, the secretary of Industry and Productive Development of the Argentine government, José Ignacio de Mendiguren, and the ambassador of Argentina in the country. Asian, Sabino Vaca Narvaja.

The choice of the Argentine country for investment in the installation of the new vehicle production plant is due to the high reserve of lithium in the Latin American country. This is the base product for manufacturing batteries for electric cars.

Furthermore, the location of the plant in a country neighboring Brazil will ensure greater connection between the factories in both countries. Thus, the implementation of the venture will allow the Chinese company to fully serve the Latin American market.

Also at the meeting, it was defined that the production of batteries for electric cars will take place in the Argentine province of Jujuy, by the Chinese company Gotion High tech in partnership with JEMSE, a local mining company.

Investment by Chery Automobile in the new electric car production plant will take place in two phases, with the first starting in 2023

According to Chery Automobile, its plan to investment for the new electric car production plant in Argentina will take place in two stages.

The first phase, between 2023 and 2025, will have a total investment of US$ 300 million for an annual production of up to 50 electric cars and the creation of 4 jobs.

The second will take place between 2026 and 2030, when the company is considering reaching the milestone of 100 electric cars produced annually.

The details of the partnership between Chery Automobile and the government Argentine will be completed in February, after another meeting with representatives of the State and the company.

With its new project for the Latin American electric car market, Chery Automobile further expands its investment in the western transport sector.