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Baoneng Group’s Strategic Investment into Qoros Auto Bring the Automaker into a New Era


[Dec 21, 2017] Qoros Automobile Co., Ltd. announces that it has officially ushered in a strategic investor – Baoneng Group. "We warmly welcome Baoneng Group's strategic investment into Qoros Auto, and thank the two shareholders, namely Chery Automobile and Quantum, for their years of support. We believe that the three shareholders will provide better resources to Qoros and help to bring the carmaker into a new era."

In view of the fact that the global auto industry is entering into an era of new energy, intelligence, networking and autonomous driving, Qoros Automobile, "China's new premium" auto brand, is actively pursuing strategic transformation and announced the introduction of a new investor early this year. Qoros held discussions with Chery Automobile, its Chinese shareholder, Quantum, its foreign shareholder, and a number of potential investors (including Baoneng). Through multiple rounds of screening and comparison, Baoneng Group's deep understanding of the automotive industry, innovative strategic thinking and pragmatic support measures had been highly affirmed and endorsed by the shareholders and the company.

As an outstanding national enterprise that has been established for 25 years and has taken root in entity operations in China, Baoneng not only brings strong financial support to Qoros, but also introduces more innovative development ideas and international development visions. At the same time, it will provide Qoros with all-round unconditional support in industry chain collaboration, customer sharing, and automotive aftermarket layout.

Over the past decade, Chery Automobile and Quantum have made significant contributions as founding shareholders of Qoros Automotive. Qoros has been operating independently since the beginning of establishment, and in the future it will continue to maintain its independence. The introduction of new strategic investment is to promote better development of Qoros Automobile. Chery is optimistic about the future development of Qoros and will continue to provide systematic support in such fields as technology and human resources. Quantum will also continue to actively support the development of Qoros.

Established in 2007, Qoros is now competent and qualified in design, development, production, sales and after-sales services; Qoros Automobile boasts of a complete passenger car production qualification, independent "Qoros" brand, five models including Qoros 3 series and Qoros 5 SUV; it has the world's leading complete quality control system and ISO9001: 2008 certification. Qoros management team has a wealth of experience and a global perspective, and an average of more than 20 years of work experience in the industry. Qoros employees are from 14 countries, and more than 500 of them are capable of bilingual communication, also, the automaker brings together top OEM engineering experts from various countries.

Through innovation and change, Qoros will actively embrace the future mobile life. As a leader in the development of China's auto brand, Qoros will continue to devote itself to the "Made in China 2025" and the supply-side reform. It will respond positively to the calls of the party and the state and continuously innovate to develop and manufacture motor vehicles consistent with the requirements of electrification, intelligentization, interconnection and the trend of auto sharing, meet people's growing needs for a better life and serve the country's economic and social development.

Dr. Leon Liu says: " With the fully support of three shareholders , Baoneng Group, Chery Automobile and Quantum and with the joint efforts of the company's management and all staff, Qoros will surely seize the market opportunity of the outbreak of China's high-end auto consumption, actively layout new energy products and strategies, and strive to become China's mainstream car brand."

NEXT: Qoros Model Young SUV unveiled at Chengdu Motor Show 2017
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