Latest news with #Chery
Business Times
an hour ago
- Automotive
- Business Times
China's Chery to supply tech to help India's JSW launch own EVs
[BEIJING] China's Chery Automobile will supply technology and components to billionaire Sajjan Jindal's JSW Group to help launch a new-energy vehicle brand in India by 2027, according to sources familiar with the matter. Under an agreement between the two companies, JSW will pay Chery a one-off technology transfer fee and recurring royalties, said the sources, who asked not to be identified because the information is private. There is no equity arrangement, in line with India's restrictions on Chinese investment in strategic sectors. The deal will mark the first major passenger vehicle technology transfer from a Chinese automaker to an Indian company since border clashes between the two nations in 2020 snowballed into a bilateral spat. India has put up walls to prevent its neighbour from making big-ticket investments in the country. Chery and JSW disputed the accuracy of Bloomberg News's report in their responses and said the pact was for providing components. 'Chery will supply components of parts of models. JSW will assemble and produce under JSW brand in India,' the Chinese car maker said in an e-mail. An e-mailed response from JSW mirrored Chery's comments and said 'the core technology will be developed in-house with the help of companies', such as KPIT Technologies and LTIMindtree. Deeply dependent India's nascent electric vehicle (EV) ecosystem is deeply dependent on Chinese supply chains, from rare earth magnets to lithium-ion cells. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up While China is also heavily scrutinising overseas transfer of technologies in critical sectors such as EVs and semiconductors, several Indian companies, including Exide Industries, Amara Raja and Tata AutoComp Systems, have licensing agreements and partnerships with Chinese cell pioneers such as Svolt Energy Technology and Gotion High-tech. The closely held Chery, China's top passenger vehicle exporter for 22 consecutive years and its fourth-largest carmaker, has a presence in more than 100 countries and also has a joint venture with luxury marque Jaguar Land Rover, which is owned by India's Tata Motors. Chery is also said to be eyeing a Hong Kong initial public offering that could raise about US$1.5 billion, Bloomberg News reported in May, citing sources familiar with the matter. But its pursuit of a successful listing has been complicated by its significant operations in Russia, where it became a top-selling brand. Shying away Some international banks are shying away, prompting Chery to scale back Russian operations and cease sales to sanctioned countries such as Cuba and Iran. The royalty stream from JSW, in this backdrop, will boost its revenues and its international ambitions that include setting up a US$1 billion factory in Turkey. Chery's portfolio spans electric cars and hybrids under brands such as iCar, Exeed, and Jetour. The company brings advanced electric powertrains, hybrid systems and intelligent cockpit tech, capabilities JSW will leverage to localise and scale production rapidly. JSW is reviewing several Chery models, particularly from the iCar sport utility range, to tailor for Indian consumers. The Indian conglomerate, that spans steel, new energy, infrastructure and paints, has been entering newer segments such as cement and cars. The new EV brand will be wholly owned by JSW and operate independently of its existing MG Motor India joint venture with China's Saic Motor, which will continue to sell vehicles in India under the MG badge, the sources said. JSW is setting up facilities in the Indian state of Maharashtra where it will manufacture its own brand of passenger EVs from 2027, as well as a range of electric trucks and buses from next year, the sources said. The JSW Group is also planning to increase its stake in its MG Motor joint venture by buying out more of Saic's stake in the entity, Parth Jindal, director of JSW MG Motor India, told a local newspaper earlier this month. The conglomerate has also finalised two licensing pacts with Chinese automakers, the report said, without giving further details. BLOOMBERG
Korea Herald
an hour ago
- Automotive
- Korea Herald
For Masters of Refined Living -- LEPAS Adds Color to the Indonesia International Auto Show in Jakarta
JAKARTA, Indonesia, July 24, 2025 /PRNewswire/ -- On July 23, Jakarta's Indonesia International Auto Show saw the eye-catching overseas debut of LEPAS, a brand launched in China this April under Chery Group to boost its internationalization strategy. LEPAS stole the spotlight with its brand philosophy of "COLORFUL LIFE, MASTERFUL DRIVE" showcase, featuring vibrant booth designs, Leopard Aesthetics, and immersive interactions. Its full product lineup made a grand entrance: L8 for elegant lifestyle seekers, L6 as a mobile workstation for creators, and L4 for refined young drivers. This debut, embodying elegant mobility, became a highlight. Zhong Wei, LEPAS Deputy CEO, noted young urban elites seek cars that align with their aesthetics and lifestyle, not just specs. LEPAS, built for "masters of refined living," blends tech and warmth under its brand philosophy to reshape mobility. For LEPAS, "mastery" reflects life attitude: cars extend living, and refined living is for all striving for better. The L8, a key model, exemplifies this vision. With Leopard Aesthetics—streamlined body, vertical-pupil headlights, rounded grille—it merges power and elegance. A partnership with Miss Universe deepens its refined living narrative. Focused on comfort, the L8's spacious interior and user-friendly cockpit create a "refined third space," adaptable to work or relaxation. Its self-developed "All-Scenario Super Platform" handles urban and rural roads, while Chery's ultra-efficient hybrid system ensures high efficiency, low fuel consumption, and long range, embodying tech value. Leveraging Chery's 22-year lead in Chinese passenger vehicle exports, and the trust of 5 million users, LEPAS accelerates globalization. Zhong Wei plans entry into Europe, Southeast Asia, North America, and the Middle East in three years. "LEPAS aims to co-create an era-defining refined lifestyle, adding color to the world," he said. About Chery Group Chery Group is a leading automotive manufacturing brand in China. Its subsidiary, Chery Automobile, founded in 1997, is one of the earliest self-owned brands in China to surpass 1 million, 3 million and 5 million vehicle sales. Chery Group has grown into a diversified enterprise group with the automotive industry at its core. Its business spans 120 countries and regions worldwide. It has ranked No.1 in passenger vehicle exports among Chinese brands for 22 consecutive years, with over 5 million overseas users.
Cision Canada
2 hours ago
- Automotive
- Cision Canada
For Masters of Refined Living -- LEPAS Adds Color to the Indonesia International Auto Show in Jakarta
JAKARTA, Indonesia, July 23, 2025 /CNW/ -- On July 23, Jakarta's Indonesia International Auto Show saw the eye-catching overseas debut of LEPAS, a brand launched in China this April under Chery Group to boost its internationalization strategy. LEPAS stole the spotlight with its brand philosophy of "COLORFUL LIFE, MASTERFUL DRIVE" showcase, featuring vibrant booth designs, Leopard Aesthetics, and immersive interactions. Its full product lineup made a grand entrance: L8 for elegant lifestyle seekers, L6 as a mobile workstation for creators, and L4 for refined young drivers. This debut, embodying elegant mobility, became a highlight. Zhong Wei, LEPAS Deputy CEO, noted young urban elites seek cars that align with their aesthetics and lifestyle, not just specs. LEPAS, built for "masters of refined living," blends tech and warmth under its brand philosophy to reshape mobility. For LEPAS, "mastery" reflects life attitude: cars extend living, and refined living is for all striving for better. The L8, a key model, exemplifies this vision. With Leopard Aesthetics—streamlined body, vertical-pupil headlights, rounded grille—it merges power and elegance. A partnership with Miss Universe deepens its refined living narrative. Focused on comfort, the L8's spacious interior and user-friendly cockpit create a "refined third space," adaptable to work or relaxation. Its self-developed "All-Scenario Super Platform" handles urban and rural roads, while Chery's ultra-efficient hybrid system ensures high efficiency, low fuel consumption, and long range, embodying tech value. Leveraging Chery's 22-year lead in Chinese passenger vehicle exports, and the trust of 5 million users, LEPAS accelerates globalization. Zhong Wei plans entry into Europe, Southeast Asia, North America, and the Middle East in three years. "LEPAS aims to co-create an era-defining refined lifestyle, adding color to the world," he said. About Chery Group Chery Group is a leading automotive manufacturing brand in China. Its subsidiary, Chery Automobile, founded in 1997, is one of the earliest self-owned brands in China to surpass 1 million, 3 million and 5 million vehicle sales. Chery Group has grown into a diversified enterprise group with the automotive industry at its core. Its business spans 120 countries and regions worldwide. It has ranked No.1 in passenger vehicle exports among Chinese brands for 22 consecutive years, with over 5 million overseas users.
Time of India
4 hours ago
- Automotive
- Time of India
China's Chery to supply tech to help India's JSW launch own EVs
China's Chery Automobile Co. will supply technology and components to billionaire Sajjan Jindal 's JSW Group to help launch a new-energy vehicle brand in India by 2027, according to people familiar with the matter. Under an agreement between the two companies, JSW will pay Chery a one-off technology transfer fee and recurring royalties, said the people, who asked not to be identified because the information is private. There is no equity arrangement, in line with India's restrictions on Chinese investment in strategic sectors. The deal will mark the first major passenger vehicle technology transfer from a Chinese automaker to an Indian company since border clashes between the two nations in 2020 snowballed into a bilateral spat. India has put up walls to prevent its neighbor from making big-ticket investments in the country. Chery and JSW disputed the accuracy of Bloomberg News's report in their responses and said the pact was for providing components. 'Chery will supply components of parts of models. JSW will assemble and produce under JSW brand in India,' the Chinese car maker said in an email. An emailed response from JSW mirrored Chery's comments and said 'the core technology will be developed in-house with the help of companies,' such as KPIT Technologies Ltd. and LTIMindtree Ltd. Deeply dependent India's nascent EV ecosystem is deeply dependent on Chinese supply chains - from rare earth magnets to lithium-ion cells. While China is also heavily scrutinizing overseas transfer of technologies in critical sectors like EVs and semi-conductors, several Indian companies including Exide Industries Ltd., Amara Raja and Tata AutoComp Systems Ltd. have licensing agreements and partnerships with Chinese cell pioneers like SVOLT Energy Technology Co. and Gotion High-tech Co. The closely held Chery, China's top passenger vehicle exporter for 22 consecutive years and its fourth-largest carmaker, has a presence in more than 100 countries and also has a joint venture with luxury marque Jaguar Land Rover, which is owned by India's Tata Motors Ltd. Chery is also said to be eying a Hong Kong initial public offering that could raise about $1.5 billion, Bloomberg News reported in May citing people familiar with the matter. But its pursuit of a successful listing has been complicated by its significant operations in Russia, where it became a top-selling brand. Shying away Some international banks are shying away, prompting Chery to scale back Russian operations and cease sales to sanctioned countries like Cuba and Iran. The royalty stream from JSW, in this backdrop, will boost its revenues and its international ambitions that include setting up a $1 billion factory in Turkey. Chery's portfolio spans electric cars and hybrids under brands such as iCar, Exeed, and Jetour. The company brings advanced electric powertrains, hybrid systems and intelligent cockpit tech — capabilities JSW will leverage to localize and scale production rapidly. JSW is reviewing several Chery models, particularly from the iCar sport utility range, to tailor for Indian consumers. The Indian conglomerate, that spans steel, new energy, infrastructure and paints, has been entering newer segments like cement and cars. The new EV brand will be wholly owned by JSW and operate independently of its existing MG Motor India Pvt. joint venture with China's SAIC Motor Corp., which will continue to sell vehicles in India under the MG badge, the people said. JSW is setting up facilities in the Indian state of Maharashtra where it will manufacture its own brand of passenger EVs from 2027, as well as a range of electric trucks and buses from next year, the people said. The JSW Group is also planning to increase its stake in its MG Motor joint venture by buying out more of SAIC's stake in the entity, Parth Jindal, director of JSW MG Motor India told a local newspaper earlier this month. The conglomerate has also finalized two licensing pacts with Chinese automakers, the report said, without giving further details.
Time of India
5 hours ago
- Automotive
- Time of India
China's Chery to supply tech to help India's JSW launch own EVs
China's Chery Automobile Co. will supply technology and components to billionaire Sajjan Jindal 's JSW Group to help launch a new-energy vehicle brand in India by 2027, according to people familiar with the matter. Under an agreement between the two companies, JSW will pay Chery a one-off technology transfer fee and recurring royalties, said the people, who asked not to be identified because the information is private. There is no equity arrangement, in line with India's restrictions on Chinese investment in strategic sectors. Explore courses from Top Institutes in Please select course: Select a Course Category Data Analytics MCA Degree Operations Management Data Science Project Management Technology Design Thinking Finance healthcare Healthcare Cybersecurity Product Management CXO others Management Public Policy PGDM Data Science Others Artificial Intelligence Leadership Digital Marketing MBA Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details The deal will mark the first major passenger vehicle technology transfer from a Chinese automaker to an Indian company since border clashes between the two nations in 2020 snowballed into a bilateral spat. India has put up walls to prevent its neighbor from making big-ticket investments in the country. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Vinh Tan: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Chery and JSW disputed the accuracy of Bloomberg News's report in their responses and said the pact was for providing components. 'Chery will supply components of parts of models. JSW will assemble and produce under JSW brand in India,' the Chinese car maker said in an email. An emailed response from JSW mirrored Chery's comments and said 'the core technology will be developed in-house with the help of companies,' such as KPIT Technologies Ltd. and LTIMindtree Ltd. Live Events Deeply dependent India's nascent EV ecosystem is deeply dependent on Chinese supply chains - from rare earth magnets to lithium-ion cells. While China is also heavily scrutinizing overseas transfer of technologies in critical sectors like EVs and semi-conductors, several Indian companies including Exide Industries Ltd., Amara Raja and Tata AutoComp Systems Ltd. have licensing agreements and partnerships with Chinese cell pioneers like SVOLT Energy Technology Co. and Gotion High-tech Co. The closely held Chery, China's top passenger vehicle exporter for 22 consecutive years and its fourth-largest carmaker, has a presence in more than 100 countries and also has a joint venture with luxury marque Jaguar Land Rover, which is owned by India's Tata Motors Ltd. Chery is also said to be eying a Hong Kong initial public offering that could raise about $1.5 billion, Bloomberg News reported in May citing people familiar with the matter. But its pursuit of a successful listing has been complicated by its significant operations in Russia, where it became a top-selling brand. Shying away Some international banks are shying away, prompting Chery to scale back Russian operations and cease sales to sanctioned countries like Cuba and Iran. The royalty stream from JSW, in this backdrop, will boost its revenues and its international ambitions that include setting up a $1 billion factory in Turkey. Chery's portfolio spans electric cars and hybrids under brands such as iCar, Exeed, and Jetour. The company brings advanced electric powertrains, hybrid systems and intelligent cockpit tech — capabilities JSW will leverage to localize and scale production rapidly. JSW is reviewing several Chery models, particularly from the iCar sport utility range, to tailor for Indian consumers. The Indian conglomerate, that spans steel, new energy, infrastructure and paints, has been entering newer segments like cement and cars. The new EV brand will be wholly owned by JSW and operate independently of its existing MG Motor India Pvt. joint venture with China's SAIC Motor Corp., which will continue to sell vehicles in India under the MG badge, the people said. JSW is setting up facilities in the Indian state of Maharashtra where it will manufacture its own brand of passenger EVs from 2027, as well as a range of electric trucks and buses from next year, the people said. The JSW Group is also planning to increase its stake in its MG Motor joint venture by buying out more of SAIC's stake in the entity, Parth Jindal, director of JSW MG Motor India told a local newspaper earlier this month. The conglomerate has also finalized two licensing pacts with Chinese automakers, the report said, without giving further details.
