Chery Automobile Co., Ltd. was incorporated on January 8, 1997, with a registered capital of 3.68 billion yuan. The construction of the company started on March 18, 1997, and the first Chery sedan was launched on December 18, 1999; the 2 millionth car was launched on March 26, 2010, marking a new era for Chery to build an international brand name. At present, Chery has an annual production capacity of 900,000 vehicles, engines and 400,000 sets of gearboxes. Chery now has four sub-brands: Chery, Ruiqi, Weilin and Kaorui, with products covering passenger cars, commercial vehicles and minivans.