Chery's investment in Coal Resources Allocated in Ordos "Shrinks"

Per reporter: Zeng Jian Per editor: Chen Junjie

In 2010, the news that Chery will invest 20 billion yuan to build a factory in Ordos, Inner Mongolia caused a huge sensation. According to the plan, the project was the largest off-site investment project of the whole vehicle in China at that time; the news is more interesting because Chery will be allocated a considerable amount of coal resources through this investment. For a time, the news of "Chery Circle Coal" was boiling on the Internet.

For more than 11 years, Chery's coal project has been unknown. The "Daily Economic News" reporter noted that an announcement by Huaibei Mining (600985, SH), an A-share listed company, finally brought Chery's coal project back to the public's vision, but revealed the information that Chery's coal resources were reduced. However, Chery is still expected to recover a huge amount of money by selling the coal resources, and its initial investment for resources is a classic.

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