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                            We give a Chevalley formula for an arbitrary weight for the torus-equivariant K-group of semi-infinite flag manifolds, which is expressed in terms of the quantum alcove model. As an application, we prove the Chevalley formula for an anti-dominant fundamental weight for the (small) torus-equivariant quantum K-theory QK_{T}(G/B) of a (finite-dimensional) flag manifold G/B; this has been a longstanding conjecture about the multiplicative structure of QK_{T}(G/B). In type A_{n-1}, we prove that the so-called quantum Grothendieck polynomials indeed represent (opposite) Schubert classes in the (non-equivariant) quantum K-theory QK(SL_{n}/B); we also obtain very explicit information about the coefficients in the respective Chevalley formula. 
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