logo
Chery denies improper subsidy declarations

Chery denies improper subsidy declarations

TimesLIVEa day ago
Chinese carmaker Chery on Saturday denied assertions it had improperly claimed government subsidies for environmentally friendly vehicles.
An audit by the ministry of industry and information technology disqualified declarations by Chery and BYD for a combined $53m (R951,265,072) in government subsidies for thousands of vehicles sold in the five years to 2020, accounting for nearly 60% of the improper claims.
Chery denied its declarations were improper. It said it had previously consulted the authorities about the challenges of missing receipts because the cars were sold more than five years ago and the government had advised the company to declare the cars for the ministry to determine if they should be qualified.
"Our company has truthfully reported to the authorities we did not collect certificates for end sales. There's no fraudulent act," Chery said.
The government's assertions do not include allegations of fraud.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

GAC and JAC forecast record Q2 losses
GAC and JAC forecast record Q2 losses

TimesLIVE

time2 hours ago

  • TimesLIVE

GAC and JAC forecast record Q2 losses

Guangzhou Automobile Group (GAC) and JAC Group expect to post their biggest ever second quarter losses next month as the state-owned Chinese carmakers struggle with competition at home and abroad. China's car sector is reeling from overcapacity and an extended price war, prompting regulators and industry executives to warn about risks to the sector's long-term viability. State-owned carmakers are struggling more than private peers such as BYD, Geely and Great Wall Motor, with many teaming up with Huawei to launch new brands and develop new electric vehicles (EVs) to try to tap into the tech giant's technologies and brand halo. GAC expects its quarterly loss to widen to between CN¥1.1bn (R2.74bn) and CN¥1.9bn (R4.73bn) from CN¥731.6m (R1.82bn) in the first quarter, according to a stock filing on Friday. That compares with a CN¥296m (R737.12m) profit in the second quarter of 2024. An expected first-half loss of up to CN¥2.6bn (R6.47bn) would be GAC's biggest six-month loss since listing in 2010 and was attributed in part to its new EV and plug-in hybrid models failing to meet sales goals, as well as the price war. GAC has shared in the losses of its Japanese partners, Honda and Toyota, which have ceded market share in China to local brands such as BYD. Sales of GAC's Aion- and Trumpchi-branded EV and plug-in hybrid cars have also weakened amid intense competition. JAC Group's EV and plug-in sales slumped 35.1% to account for just 4.4% of its overall first-half sales. The firm expects a net loss of CN¥457m (R1.13bn) in the second quarter, more than double its first quarter loss and compared with a CN¥195.3m (R486.31m) profit in the second quarter of last year, according to a stock filing on Monday. Export-reliant JAC said its export business was in decline due to 'an increasingly complex international situation and intensified competition in overseas car markets'. JAC is still ramping up production capacity for its high-end EV project, the filing added. The Maextro S800 electric sedan, co-developed with Huawei, went on sale at the end of May priced from CN¥708,000 (R1,762,986), making it the most expensive EV released under the Huawei-led automotive alliance and sales network. Arcfox, the EV unit of Beijing Automotive Group (BAIC), said on Monday it expected a second-quarter loss of up to CN¥1.5bn (R3.73bn), narrower than in the same period last year. That would, however, extend a streak of quarterly losses stretching back to the start of 2020. GAC, JAC and Arcfox are not due to report their first-half results until August 29, but Chinese companies sometimes voluntarily publish estimates in advance when significant changes are expected. Major carmakers including BYD, Geely and Chery are yet to disclose forecasts before their earnings announcements.

Chery-owned iCar coming to South Africa as renamed iCaur
Chery-owned iCar coming to South Africa as renamed iCaur

The Citizen

time2 hours ago

  • The Citizen

Chery-owned iCar coming to South Africa as renamed iCaur

Off-road devised EV brand will be a standalone marque similar Omoda & Jaecoo and Jetour, and launch officially in August before sales start in the first quarter of 2026. Retro-styled V23 is likely to be one of the models iCaur will bring to South Africa. Image: iCaur South Africa After a series of rumours stemming from the Shanghai International Auto Show in April this year, Chery has confirmed that its electric off-road-focused iCar brand will be debuting in 2026, but under a different name. How do you say it? Founded two years ago, with its first model, the 03, being shown at Chery's inaugural tech festival event in its hometown of Wuhu later that same year, the marque will function in a standalone capacity similar to its Omoda & Jaecoo and Jetour siblings. ALSO READ: All-electric Jaecoo J6's low running costs won't justify lofty price tag In a turnaround though, and because of copyright ownership, the brand will be known as iCaur. Still pronounced 'i-car', sales will commence in the first quarter of 2026, making it the 15th Chinese vehicle manufacturer in South Africa after its parent company and divisional trio, BAIC, BYD, Dayun, Dongfeng, Foton, GAC, Great Wall Motors (GWM) Haval, JAC, LDV and MG. Its operations taking place from a projected 15 dealers by the time of its market arrival, the initial iCaur line-up will seemingly consist of three models, the same number currently sold in China. What to expect? Jaecoo J6 no more. Prepare for iCaur 03 Of these, the 03 will formally debut as an iCaur after initial plans had been for it to debut as the Jaecoo J6. While shown as an iCar at the Kyalami Festival of Motoring last year, rebadging it as the J6 was eventually decided on for the starting of sales this year. Indeed, while a number of pre-production units were provided to the media badged as Jaecoos, plans on selling it came to an abrupt halt in a move now known to have been taken in response to the launching of iCar as iCaur. The iCar 03 made its world debut at Chery's Tech Day in Wuhu two years ago. Image: Charl Bosch As such, the 03 will take leave of the Jaecoo specific front-end and revert to its iCar frontal appearance, still with the inverted L-shaped headlights, and a lower case 'i' on the faux spare wheel cover that houses a storage area instead of the charging equipment. Dimensionally, the 03 measures 4 406 mm long, 1 910 mm wide and 1 715 mm tall with its wheelbase stretching 2 715 mm. The claimed ground clearance is 195 mm. The move to iCaur from Jaecoo will, speculatively, have a further impact on the 03's choice of powerplants as the J6 had been expected to offer only all-wheel-drive. iCar 03 made its debut, before becoming the Jaecoo J6, at the Kyalami Festival of Motoring last year. Image: Charl Bosch In this instance, the dual electric motor setup produces 205kW/385Nm from a 69.7-kWh lithium-ion phosphate battery pack. At the time, Jaecoo claimed a range of 364 km, 0-100 km/h in 6.5 seconds and DC charging up to 80 kW that requires a waiting time of 30 minutes from 30-80%. In the case of the rear-wheel-drive, the battery pack produces 65.6-kWh and drives a single electric motor that makes 135kW/220Nm. The claimed range is 371 km and the 0-100 km/h dash 10.5 seconds. The iCar 03 was originally supposed to be sold as the Jaecoo J6. Image: Jaecoo Similar to the all-wheel-drive, the two-wheel-drive 03 supports DC charging up to 80 kW, and will necessitate the same 30 minute wait from 30-80%. Specification, while still to be divulged, will more than likely be carried over from the now defunct J6 and include the 15.6-inch infotainment display, heated and electric front seats, panoramic sunroof, a 540-degree surround-view camera system and a 9.2-inch digital instrument cluster. iCar 03T likely? Showcased at the end of last year, the improved 03T, which sports sharper styling, wider wheel arches and subtle rear facia changes, could also be earmarked for South Africa as it is reportedly under consideration for Malaysia, according to As per the 03T, also sold as the rebadged Chery X3 Plus in China, measures 4 327 mm in overall length, with the rest of its dimensions being similar to the 03 that also goes by the name Chery X3. Updated iCar 03T could also be in-line for South Africa. Image: iCar Power, reportedly, comes from a 68.3-kWh battery pack that produces 185 kW. Suggestively, this amounts to the all-wheel-drive as official iCar pricing claims a range of between 501 km and 520 km based on China's CLTC measurements. Pricing reportedly ranges from 119 800 yuan (R298 505) to 129 800 yuan (R323 422). Retro V23 Depicted in the brand's official confirmation statement, the third model it currently produces, the retro-styled V23, will serve as the alternative to the 03 and possibly, as the entry-level iCaur product. An aesthetic combination of the Toyota Land Cruiser 40-series when viewed from the front, the Defender 110 from the side and the Mercedes-Benz G-Class at the rear, the V23 made its world debut last year as a joint venture between Chery and the Zhimi Technology division of smartphone marker, Xiaomi A supposed tribute to the Soviet-era Beijing Jeep BJ212 that has been used by the Chinese military since 1965, the V23 has measurement of 4 220 mm in overall length, a height of 1 845 mm, width of 1 915 mm and wheelbase of 2 735 mm. Sporting a claimed 200 mm of ground clearance, the V23's departure angle is set at 41-degrees and its approach at 43-deegers. No details surrounding its breakover angle was divulged. V23's rear bears more than a close resemble to the Mercedes-Benz G-Class. Image: On the power front, the V23 offers a choice of two battery packs; the entry-level being a 59.9-kWh module powering a single rear-axle mounted electric motor developing 100kW/180Nm. Based on CLTC measurements, which differ from the WLTP used in Europe and by in-large, South Africa, the two-wheel-drive V23 will do 401 km on a single charge and require a waiting time of 30 minutes from 30-80%. Producing the same power, the extended range two-wheel-drive receives a bigger 81.7-kWh battery that translates to a claimed CLTC range of 550 km. V23's interior sports a central display similar in appearance to the Ineos Grenadier. Image: iCar Finally, the all-wheel-drive retains the bigger battery pack, but adds a 55kW/112Nm motor to the front axle for a combined output of 155kW/292Nm. In this guise, the range falls to 501 km, while the claimed waiting time remains at 30 minutes from 30-80%. Sporting an interior similar to that of the Ineos Grenadier, notable specification items consist of a 15.4-inch infotainment system, the 540-degree surround-view camera, a series of physical climate control dials and Adaptive Cruise Control. Priced from 109 900 yuan to 149 800 yuan in China, which equates to R273 746 and R373 132 respectively when converted directly and without the various taxes included, the V23 is likely to be priced significantly higher once sales in South Africa commence next year. Almost here The brand will its official debut at the Kyalami Festival of Motoring in August where more details will be revealed. ALSO READ: Preview for South Africa? All-electric Jaecoo J6 debuts in Thailand

Chinese brand iCaur to launch in South Africa - will its bold-looking SUVs be a breath of fresh air?
Chinese brand iCaur to launch in South Africa - will its bold-looking SUVs be a breath of fresh air?

IOL News

time3 hours ago

  • IOL News

Chinese brand iCaur to launch in South Africa - will its bold-looking SUVs be a breath of fresh air?

The iCaur V23 is a compact electric SUV with rugged looks. Image: Supplied And just when you thought the South African market could not possibly accommodate another Chinese vehicle brand, it's time to meet the iCaur. A product of the Chery Group, the iCaur vehicles are certainly not run of the mill, and South Africans will be able to experience them first hand when the brand launches locally during the first quarter of 2026. The brand is actually called iCar in China, but for obvious trademark reasons, it has been changed to iCaur for international markets. As a relatively new brand, established as an all-electric nameplate in China in 2023, iCaur aims to bring a more playful and user-centric spirit to the new energy vehicle market, says SA brand and marketing manager Shannon Gahagan. The local vehicle line-up has yet to be announced, but iCaur SA has released pictures of a boxy compact SUV called the V23. The brand also offers a larger (but also somewhat boxy) SUV called the iCaur 03 in some overseas markets, and interestingly, this vehicle has already been confirmed for South Africa as the Jaecoo J6. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ The iCaur 03 is badged as the Jaecoo J6 in some markets. Image: Supplied The iCaur V23 boasts rugged looks and with a length of 4,220mm, it's not a great deal larger than the Suzuki Jimny 5-door. It is offered in rear-wheel drive and four-wheel drive guises, with respective power outputs of 100kW and 155kW. Customers abroad can also choose between two battery sizes, with the 59.9 kWh entry option enabling a claimed range of 400km and the larger 81.8 kWh unit allowing 550km. iCaur intends to create a whole lifestyle experience around the brand. Image: Supplied In addition to standing out through emotional design and creating new vehicle segments, iCaur is also aiming to create a lifestyle ecosystem of sorts, extending beyond the car to include gear, content and experiences. The South African importer is currently finalising its dealer network and aims to have 15 dealerships up and running by the time of launch. 'South Africa is a country with a rich outdoor lifestyle, vibrant urban culture, and an increasingly energy-conscious mindset,' Gahagan concluded. 'These are the communities iCAUR is built for.' South Africans will get their first taste of the new vehicles at the Festival of Motoring, to be held at Kyalami from August 29. IOL Motoring Get your news on the go, click here to join the IOL News WhatsApp channel

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store