A joint 50%-50% project of Israel Corp. (Israel's largest holding company) and China's 'Chery' (owned by the Chinese government) established a joint car company, to produce the first Chinese-Israeli cars, that is entirely manufactured in China.The primary market by far will be China, however, they optimistically (perhaps unrealistically) also hope to export a small extent to the heavily-saturated European market. Although the project was initiated by and is 50% owned and managed by Israel Corp. which contains a 'golden share' owned by the Israeli government, any exports option would be insulated from boycotts due to Chinese branding and Chinese manufacturing.Their first car is going on sale later this year (primarily in China) as a low-price sedan ($20,000).It was developed by team of engineers from multiple different countries. It achieved 5 stars (the first time for a Chinese manufactured car) on the Euro NCAP safety tests.Chinese television advertising campaign