I present a combinatorial Chevalley formula for an arbitrary weight, in the torus-equivariant K-group of semi-infinite flag manifolds, which is expressed in terms of the so-called quantum alcove model. One application is the Chevalley formula for anti-dominant fundamental weights in the (small) torus-equivariant quantum K-theory of the flag manifold G/B; this has been a longstanding conjecture. I also discuss the Chevalley formula for partial flag manifolds G/P. Another application is that the so-called quantum Grothendieck polynomials indeed represent Schubert classes in the (non-equivariant) quantum K-theory of the type A flag manifold. This is joint work with Satoshi Naito and Daisuke Sagaki.