Company overview
Qoros Auto Co., Ltd. was established in December 2007 as a joint venture between Chery and Israel Corporation, initially operating under the name Chery Quantum Automotive Corporation (CQAC). The company was renamed Qoros Auto Co., Ltd. in November 2011. In September 2008, Qoros opened an office in Shanghai and signed a cooperation agreement with Magna Steyr in October 2009. Construction of its first prototype began in October 2011, and the Qoros 3 sedan debuted at the 2013 Shanghai Auto Show. The company initially focused on sales in China, with a planned production capacity of 150,000 units. By 2014, sales reached under 7,000 vehicles, leading to a change in senior management. In January 2017, Qoros announced it would not sell vehicles in Europe. In October 2017, Baoneng Group acquired a 51 percent stake in Qoros. Later, Kenon Holdings transferred a portion of its stake to Baoneng Group. By 2018, Baoneng Investment Group controlled 63% of Qoros, with Chery holding 25%, and Kenon Holdings retaining 12%. The Qoros 7 was launched in September 2020 as the flagship model under Baoneng’s control. However, in January 2026, Qoros Automobile filed for bankruptcy due to declining sales and financial difficulties. As of May 2022, the company was dissolved after being added to a consumer blacklist by Shandong Automobile Circulation Association.
