Baker McKenzie guides Chery Automobile Company on joint venture agreement with Ebro-EV Motors
International law firm Baker McKenzie has guided Chinese automobile manufacturer Chery Automobile Co Ltd on its joint venture agreement with Spanish auto company Ebro-EV Motors to build electric vehicles in Barcelona.
The Baker McKenzie Beijing team that advised on this case was led by partner Stanley Jia and special counsel Scott Silverman with assistance from Barcelona-based partner Cristina Rios and associate Gerard Giménez.
Established in 1997, Chery is owned by the state of China and is presently the country’s third-largest automobile manufacturer.
Ebro has been manufacturing agricultural vehicles and machinery in Barcelona since 1954 and is now a prominent company in the electric automotive industry.
Spain is the second-largest producer of automobiles in Europe and, according to the agreement, Chery will be the first Chinese company in the automobile sector to open a factory in Europe.
The new electric vehicles will be manufactured at Ebro’s factory, the former Nissan plant, in Barcelona.
Regarding the agreement, Jia remarked: “We are honoured to have assisted Chery with this transaction, which not only further enhances our client’s production capability in Europe that is in keeping with the company’s ‘In Europe, For Europe’ strategy, but also solidifies Chery’s leading position in the global automobile sector. This transaction plays to our strength in cross-border transactions and deep experience and knowledge in the automobile sector.”
Jia added: “As Chery looks to further expand its footprint and be closer to their international customers, we look forward to continue helping our client navigate regulatory and business issues in different markets, leveraging the legal know-how from our global network of 70+ offices.”
