An agreement was signed between the Iris Group and the Chinese Chery Group to produce 50,000 Omoda vehicles annually on a 230,000 square meter site.
This agreement was signed at the Algerian-Chinese Business Forum, which aims to strengthen the economic partnership between the two countries.
Djamel Guidoum, CEO of the Iris Group, stated that the partnership agreement with the global Chery Group targets the production of Omoda vehicles, a subsidiary of the Chery Group, and is unrelated to previous negotiations over a Chery factory in Algeria.
Guidoum emphasized that Omoda is a Chinese passenger vehicle brand that has achieved high sales in the Gulf states and significant success in Europe, which led Iris to choose it as a partner to build a factory in Algeria, the location of the factory has not yet been decided.
The same spokesperson added that the goal of this project is to meet the needs of the national market for cars, particularly family vehicles, and to ensure availability and lower prices.
A total of eight partnership agreements were signed with major Chinese conglomerates and major local operators, including Madar and its subsidiaries in the maritime transport sector, Condor in the home appliances sector, Global Agrifood, SNTF, and other operators.
A partnership agreement was also signed between Sikma motorcycle brand and K&G Motor China, this is a technological and commercial partnership for the local production of motorcycles with gradual integration.
The project duration is five years, renewable with the establishment of a joint venture and plans to establish a joint industrial company.
