Chery History part 2

As I said in the previous post, Chery was founded in 1997, but their first cars only started to be made in 1999, on a licence taken from Seat for the Toledo chassis. Another problem Chery had was that they lacked a licence to sell cars in China. Chery got their license from SAIC eventually, when SAIC bought 20% of Chery. The equipment used by Chery was bought from Ford Europe, a total worth of equipment of around 25 million dollars. The first export market for the Chery cars was Syria, and so Chery became the first chinese company to export cars.