He said the media reports are funny and emphasized that Chery does not intend to take control of overseas companies.
"That's just a rumor, rumors about Chery are many, they told us that we’ve bought a Fiat factory in Sciliy, we don’t have this problem, what the media reports is funny," he said.
"Chery was started in 1997, we went down a different road from other car companies, we’re always different from others. Other people are looking for joint ventures, but we’re determined to go down the road of self development, at the time many people said that this plan was impossible and making cars requires scope, when others were aiming to build 300,000 cars at that time we're just aiming for a few thousand," he added.
Yin Tong Yue expects 2010 to be a good year for the auto industry, although he predicts that the oil price will go up once again. However, Chery expects to grow even bigger and prepares several new product launches in the years to come.
"Next year we hope that we can continue to grow, this year's new products are many with 13 new cars launches and 10 more in the pipelines. The international market is likely to pick up once again, of course this year is not totally over yet and we haven’t had our directors meeting to authorise the launch of new cars, exactly how many cars we will launch we don't know yet."
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