New Chinese carmaker eyes European market A GENEVA Motor Show newcomer is threatening to shake up the European car industry. Qoros, a joint venture between Chinese carmaker Chery Automobile Ltd and an Israeli investor, previewed a compact sedan at the Geneva show that it aims to launch in eastern Europe later this year. Qoros Vice Chairman Volker Steinwascher, a former VW executive, said the car "from a technical point of view is very European," designed, engineered and styled in Europe. He put total investments - including building the Chinese factory, platform development and design - at under one billion euros ($A1.28 billion), not far from what established car companies spend for platform development alone.