China's Chery announces $400 million electric auto plant in Argentina

Chinese automaker Chery announced that it will invest US$400 million in Argentina to establish a production plant for 100,000 electric vehicles (EV) annually.

The plant is slated to generate 6,000 direct jobs, and comes on the heels of plans by steel and nickel giant Tsingshan to increase lithium carbonate output in its NW Argentina site to 50,000 tons annually.

The announcement was made after the meeting held yesterday in the city of Wuhu between the vice president of Chery International, Zhang Shenghan; Argentina's Secretary of Industry, José de Mendiguren; and the Argentine Ambassador to China, Sabino Vaca Narvaja.

The company's objective by the end of 2030 is to manufacture 100,000 vehicles per year in Argentina - a sizable addition to the country's current auto output of around 550,000 units annually.

Founded in 1997, Chery is currently the ninth largest auto manufacturer in China - with around a million units annually. It already operates a plant in Brazil since 2014 - though Argentina's would be its first in the region for EVs.

At: https://infonews-com.translate.goog/autos-electricos-un-fabricante-chino-invierte-us-400-millones-en-argentina.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=wapp

Argentina's Secretary of Industry, José de Mendiguren (middle, in screen), joins a teleconference with officials from Chinese automaker Chery and the Argentine Embassy, for Chery's announcement Thursday of an Argentine plant for 100,000 EVs annually.

Chery plans to make Argentina the regional base for new energy cars, given the lithium reserves available in the country's mountainous northwest.