Latest news with #CheryAutomobile
Yahoo
08-07-2025
- Automotive
- Yahoo
Factbox-China's carmakers expanding their presence in Europe
(Reuters) -Chinese automakers are expanding in Europe, betting on their competitive pricing and advanced technology to break into a market traditionally dominated by European and American brands, amid a global shift towards electric vehicles. This expansion has stoked trade tensions between Brussels and Beijing, including a row over EU tariffs on Chinese-made EVs, imposed to protect European producers. The following Chinese carmakers have expanded their footprint in Europe: BYD: BYD is building an electric car factory in southern Hungary and has announced a new plant for electric buses and trucks in the north of the country. The automaker has launched car sales across most of Europe. In April, BYD for the first time sold more EVs in Europe than Tesla, with 7,231 battery-powered electric vehicles (BEV) sold over the month, according to a report by JATO Dynamics. CHERY AUTOMOBILE: Chery said on July 8 it would launch sales of its Chery brand in Britain with two new SUV models in the coming weeks. It already launched its Omoda brand in Britain in August 2024 and the Jaecoo brand in January 2025. Chery has launched the Omoda and Jaecoo brands across half a dozen European markets, including Spain, Italy and Poland. CHONGQING CHANGAN AUTOMOBILE: Changan launched operations in Europe in March and said it plans to start car sales in 10 markets on the continent this year. The company plans to build a European factory to support future sales on the continent and is considering possible locations for the plant, an executive told Reuters on July 2. GEELY AUTOMOBILE: Geely said on July 2 it would launch the Geely brand in Britain at the start of the fourth quarter of 2025 with the sale of its electric EX5 SUV. The group is established in Europe through carmakers Lotus, Volvo Cars and Polestar, in which it is the majority shareholder. Volvo Cars produced 2.5% of the European cars registered between January and May 2025, according to data from the European Automobile Manufacturers' Association (ACEA). Two of Geely's other Chinese brands, Zeekr and Lynk & Co, already operate in a handful of European markets. NIO: Nio said in April it would launch an EV from its Firefly brand in Europe in the third quarter of 2025. Nio's progress in Europe has been slower than expected due to sales and service network challenges, CEO William Li said. SAIC MOTOR CORP: SAIC Motor sold 126,116 units in Europe between January and May, the ACEA said, representing 2.3% of the European car registration on the period. The company's sales come mainly from its MG Motor brand as well as from Maxus. XPENG: EV maker Xpeng said in June it was looking at more aspects of its existing collaboration with Volkswagen such as joint procurement, charging and different car models. It currently develops advanced chips for VW cars. The automaker has launched sales in a number of European markets, including in Britain in January. ZHEJIANG LEAPMOTOR TECHNOLOGY: Leapmotor plans to roll out vehicles equipped with its smart-driving technologies in Europe next year, its senior vice president said in March. The company, partly owned by Stellantis, formed a joint venture 51% controlled by Stellantis that gives the European car group exclusive rights to export, sell and manufacture Leapmotor EVs outside Greater China.
Korea Herald
17-06-2025
- Automotive
- Korea Herald
KG Mobility bets on hybrids as core growth driver in long-term strategy
Korea's sport utility vehicle maker KG Mobility announced Tuesday that it is positioning hybrid electric vehicles as a key pillar of its future growth strategy, signaling enhanced participation in the segments gaining global traction as an alternative to battery EVs. The announcement was made during the company's presentation of its mid- to long-term strategy at its headquarters in Pyeongtaek, Gyeonggi Province. Presenting its hybrid concept as 'an electric vehicle without the need for charging,' the company said it aims to offer a quiet and smooth driving experience similar to that of EVs, while addressing concerns about charging infrastructure and safety. 'Unlike conventional hybrids, which add a supplementary motor to internal combustion engines to improve fuel efficiency, KG Mobility's hybrid vehicles are developed from EV platforms,' said Kwon Yong-il, research and development headquarters head at KG Mobility. 'Our goal is to retain the core benefits of EVs while alleviating concerns over fire risk and charging inconvenience.' As part of its ongoing development of hybrid powertrains, the company, once known for its diesel models, said it is expanding beyond conventional hybrids. 'KGM is also co-developing new xEV systems with China's Chery Automobile, including extended-range electric vehicles (EREVs) and plug-in hybrids (PHEVs), which aim to deliver high efficiency at a price point comparable to that of conventional hybrids,' said Kwak Jeong-hyun, chief strategy officer at KG Mobility. PHEVs provide a longer battery-powered driving range than conventional hybrids. EREVs take it further by using a gasoline engine only as a generator, supporting the battery to maximize efficiency and extend range. To drive growth with its new powertrains, KG Mobility announced plans to accelerate the rollout of new eco-friendly SUV and pickup models, continuing its legacy of producing larger vehicles. The company aims to launch seven additional eco-friendly models by 2030. As the first of these new launches, KG Mobility announced at the event that it will introduce the Actyon Hybrid SUV in the second half of 2025. The company explained that the gasoline-powered version released in 2024 underperformed in the market, partly due to the absence of a hybrid option. The upcoming model is expected to be priced at around 37 million won ($27,200). It will be equipped with KG Mobility's efficiency-Dual motor Hybrid Transmission system, co-developed with Chinese electric vehicle giant BYD — the same powertrain used in the Torres Hybrid, the company said. Amid concerns over the company's reliance on Chinese partners such as BYD and Chery Automobile for its electrification efforts, KG Mobility responded that it is also exploring partnerships with global companies for future model development. During the event, the company pledged to revive its business with a comprehensive strategy that includes expanding its eco-friendly vehicle lineup and strengthening its global sales network. KG Mobility noted a shift in its sales structure, with exports now accounting for 70 percent of total sales, up from 40 percent in 2022. 'It has been two years and ten months (since KG Group acquired KG Mobility). I have diagnosed why the company has struggled, and now we are beginning treatment,' said Kwak Jae-sun, chairman of KG Group and KG Mobility. 'We will work together with every employee to rebuild this company. The difficult times (following its insolvency in 2009) cannot come again.'
South China Morning Post
05-06-2025
- Automotive
- South China Morning Post
After CATL's IPO spark, China's EV leaders bank on Hong Kong for growth funds
More than a dozen smart mobility companies from mainland China are making a beeline to raise funds in Hong Kong, capitalising on the growing appetite among global investors for the country's unpolished industrial gems. Advertisement The prospective initial public offerings (IPOs) from electric vehicle (EV) assemblers like Chery Automobile and Seres Group to autonomous driving technology providers such as are expected to enhance China's leading automotive technologies on the global stage, bankers and analysts said. 'They gravitate to Hong Kong where international investors are actively hunting for China's next industry leaders, those with the potential to grab a considerable share of the global market,' said Ding Haifeng, a consultant at Integrity, a Shanghai-based financial advisory firm. Successful IPOs 'would be an endorsement of Chinese EV makers and supply-chain vendors', he added. 03:30 Global carmakers cede world's largest auto show to Chinese EVs Global carmakers cede world's largest auto show to Chinese EVs Some of the candidates could launch jumbo deals, with proceeds exceeding US$1 billion each, Ding added, which could further strengthen Hong Kong's leading position as the world's busiest venue for IPOs this year. Advertisement
Bloomberg
05-06-2025
- Automotive
- Bloomberg
Burning Ship Bound for Mexico Carried Several Chinese Car Brands
A cargo ship that was abandoned in the middle of the Pacific Ocean after catching fire Tuesday was carrying cars from several Chinese automakers, according to people familiar with the matter. The Morning Midas was shipping around 3,000 cars from a range of manufacturers including Chery Automobile Co. and Great Wall Motor Co. to Mexico. It's unclear at this stage which brand's electric vehicle caught fire, the people said, who asked not to be identified discussing preliminary findings.
Business Upturn
29-05-2025
- Automotive
- Business Upturn
Alliance of Four Major Qatari Companies Signs Strategic Agreement with Chinese Automotive Giant Chery
Doha, Qatar: A powerful alliance of four leading Qatari companies has signed a strategic agreement with Chery Automobile Co., Ltd., one of China's largest and most innovative automotive manufacturers, to expand Chery's presence in the global automotive market through a new Qatari-led platform. This press release features multimedia. View the full release here: Alliance of Four Major Qatari Companies Signs Strategic Agreement with Chinese Automotive Giant Chery (Photo: AETOSWire) The alliance includes: Power International Holding Dishley Holding Elite Motors Limited Elaf Motors Chery Automobile was represented at the signing by Mr. Tim Zhang, General Manager – Middle East. The agreement was signed in the presence of senior leadership from both sides. Mr. Mohamad Al Khayyat, representative of the Qatari alliance, stated: 'This alliance represents one of the most important partnerships in the regional automotive sector. Through our collaboration with Chery, we are establishing an advanced business model built on effective partnership.' Mr. Tim Zhang, Chery Automobile General Manager – Middle East, commented: 'We are proud to join forces with this strong Qatari alliance. This agreement is not only a gateway to a promising market but also a platform to drive innovation and deliver high-quality mobility solutions to the region. We see Qatar as an ideal partner for Chery's next phase of global growth.' Mr. Abdulghani Abdullah Abdulghani, Elite Motors, added: 'We see this partnership as a strategic opportunity to create real impact in the automotive sector. By uniting local expertise with a global brand like Chery, Mr. Isam El Bashier, Elaf Auto Managing Director, affirmed: 'This agreement marks a pivotal step for our alliance and the region's automotive future. By partnering with Chery, we are combining global innovation with local strength to deliver a new standard of mobility. This collaboration sets the stage for long-term impact, industry transformation, and sustained excellence.' The Qatari alliance representatives emphasized that the agreement serves as a launchpad for a strategic venture poised to reshape the automotive industry in the region. For more information, please visit: *Distributed by: AETOSWire View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
