Chery Automobile Co Ltd has raised its sales target to 480,000 units for this year on strength of surging exports.

China's fifth-largest car maker aims to sell 300,000 vehicles on the domestic market in addition to 180,000 units overseas for 2008, a company statement said yesterday.

Wuhu-based Chery is leveraging efforts to tap into more overseas markets after it teamed with foreign car makers, including Fiat and Chrysler.

Last year it exported 119,800 units with a monthly record high of 15,000.

Chery now has eight manufacturing plants in seven countries, including Russia, Egypt, Thailand and Indonesia.

(Shanghai Daily January 24, 2008)