https://www.scmp.com/rss/209889/feed Chery Automobile Co was founded in 1997 is the seventh largest China-based automaker, measured by output in 2011, when it produced around 600,000 units. Its products are mainly passenger cars, minivans and SUVs and its vehicles are sold under four brand names: Chery, Karry, Rely and Riich. In September 2012, Chery said Chinese regulators had cleared it for a joint venture with Jaguar Land Rover, part of India’s Tata Group. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Brian Gu was at the pinnacle of his 14-year career at JPMorgan Chase & Co., when he left the investment bank to join a start-up, betting that he’ll make a difference in helping Xpeng Motors’ quest to take the EV brand to the world stage. “A lot of friends asked me why I decided to jump, and into an electric car start-up,” said Gu, who holds a doctorate in biochemistry, during an April interview in Hong Kong. “The automotive industry’s move to electric vehicles and ­autonomous driving presents... https://www.scmp.com/business/companies/article/2153041/can-chinas-electric-car-market-keep-growing-if-beijing-pulls-plug?utm_source=rss_feed https://www.scmp.com/business/companies/article/2153041/can-chinas-electric-car-market-keep-growing-if-beijing-pulls-plug?utm_source=rss_feed Sat, 30 Jun 2018 13:02:01 +0000 When consultant Bill Russo visited Chery Automobile's headquarters in Anhui province about three years ago, he listened to the company's plans to expand its factories to make as many as one million vehicles a year. But demand did not grow as planned. Chery today has the capacity to make 900,000 vehicles annually - twice the number of cars it sold last year. Sales have slumped by a third since their peak in 2010. "Chery is a classic case" of overcapacity, said Russo, a former Chrysler executive... https://www.scmp.com/business/china-business/article/1712365/chinese-car-market-falls-prey-overcapacity?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1712365/chinese-car-market-falls-prey-overcapacity?utm_source=rss_feed Fri, 13 Feb 2015 20:00:21 +0000 Myanmar may offer a huge opportunity for mainland carmakers seeking to tap into the growing demand for vehicles in one of the poorest countries in Asia. Chery Automobile is talking to Myanmar's state-owned industry company to produce its QQ taxis in the country, where the market is dominated by Japanese used cars. Cars and real estate are the most preferred assets in Myanmar. A second-hand Honda seven-seater produced in 2001 with 118,000 kilometres in mileage is priced at US$27,000 in a showroom... https://www.scmp.com/business/companies/article/1188700/myanmar-market-seen-offering-bright-prospects?utm_source=rss_feed https://www.scmp.com/business/companies/article/1188700/myanmar-market-seen-offering-bright-prospects?utm_source=rss_feed Mon, 11 Mar 2013 16:00:00 +0000 Chery Automobile is expected to gain from its joint venture with luxury car maker Jaguar Land Rover, but the challenge to create its own high-end brand remains. The venture, which plans to produce the first batch of 130,000 vehicles in 2014, will lower the cost and the prices for Britain's top sedan and SUV brand in China - the world's largest car market. China has become the biggest overseas market and the most important growth engine for Tata Motors' Jaguar Land Rover. From January to October,... https://www.scmp.com/business/companies/article/1086400/chery-goes-upmarket-link-jaguar?utm_source=rss_feed https://www.scmp.com/business/companies/article/1086400/chery-goes-upmarket-link-jaguar?utm_source=rss_feed Mon, 19 Nov 2012 16:00:00 +0000 Air traffic on the rise at Chek Lap Kok Hong Kong International Airport reported continued monthly air traffic growth last month, with a year-on-year increase of 1.9 per cent in passenger trips, to 4.7 million, and 1.1 per cent in cargo, to 346,000 tonnes. There were 30,025 flight movements, a rise of 5.1 per cent from the same month last year. Sophie Yu Jaguar, Chery team up to build car factory Tata Motors' Jaguar Land Rover unit and Chery Automobile will invest 10.9 billion yuan (HK$13.5... https://www.scmp.com/business/china-business/article/1085602/business-digest-november-19-2012?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1085602/business-digest-november-19-2012?utm_source=rss_feed Sun, 18 Nov 2012 16:00:00 +0000 Guangzhou Automobile Group, the Chinese partner of Japan's Toyota Motor and Honda Motor, formed an alliance with fellow mainland firm Chery Automobile yesterday to share core technology and management experience in an attempt to boost competitiveness in a slowing market. The deal is the first of its kind between two mainland carmakers in the world's largest car market that is still dominated by foreign brands. Under the agreement, the two companies will work together on vehicle development and... https://www.scmp.com/business/china-business/article/1076576/mainland-carmakers-guangzhou-auto-and-chery-bid-beat-slow?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1076576/mainland-carmakers-guangzhou-auto-and-chery-bid-beat-slow?utm_source=rss_feed Tue, 06 Nov 2012 16:00:00 +0000 A couple of interesting news bits are coming from the auto space, where a top foreign website operator is buying into the China car story, and where two major domestic manufacturers are set to announce a new tie-up. The former news is seeing US-based AutoTrader purchase a stake in Chinese peer BitAuto (Nasdaq: BITA), reflecting the arrival of a new generation of auto-related foreign firms to the fast-growing Chinese auto market; meantime, the second news is seeing a new R&D tie-up between Chery... https://www.scmp.com/comment/blogs/article/1075196/cars-new-tie-ups-web-rd?utm_source=rss_feed https://www.scmp.com/comment/blogs/article/1075196/cars-new-tie-ups-web-rd?utm_source=rss_feed Mon, 05 Nov 2012 01:32:02 +0000 China's budding car export trade suffered a setback yesterday when an Australian distributor recalled 21,500 vehicles made by mainland carmaker Great Wall Motor and another 2,250 Chery Automobile vehicles over traces of asbestos found in their engines and exhausts. Analysts said the recall should not have a wide impact on Chinese car exporters because most of their vehicles were sold to Algeria, Argentina, Russia and the Middle East, which do not have such stringent requirements on asbestos. The... https://www.scmp.com/business/commodities/article/1015645/chinese-car-exports-australia-hit-asbestos-road-bump?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1015645/chinese-car-exports-australia-hit-asbestos-road-bump?utm_source=rss_feed Wed, 15 Aug 2012 16:00:00 +0000 Qoros Automotive, the joint venture between Chery Automobile and Israel Corporation, will start producing a compact car in 2013 to compete with global brands such as Toyota Corolla in China's slowing market. Guo Qian, chairman and chief executive of the 50-50 joint venture, said in an interview that the namesake brand car, Qoros, would roll off a line in Changshu, Jiangsu province with an annual capacity of 150,000 units. 'We will double the capacity to 300,000 units, but there's no... https://www.scmp.com/article/986384/qoros-bares-big-plans-make-compact-car?utm_source=rss_feed https://www.scmp.com/article/986384/qoros-bares-big-plans-make-compact-car?utm_source=rss_feed Tue, 29 Nov 2011 16:00:00 +0000 The recently opened high-speed rail route between Beijing and Shanghai, said to be the longest and the fastest in the world, has drawn attention to innovation in China. The popular myth is that Chinese companies largely remain in the bottom pit of the global supply chain that affords them scant resources for groundbreaking research and development. The often-cited example is the US$6 value of an Apple's US$300 iPhone that can be attributed to Chinese parts manufacturers. Yet China... https://www.scmp.com/article/974198/recycling-ideas?utm_source=rss_feed https://www.scmp.com/article/974198/recycling-ideas?utm_source=rss_feed Fri, 22 Jul 2011 16:00:00 +0000 Italy's Fiat, which suspended co-operation with Nanjing Automobile (Group) Corp late last year, will soon close a deal with Chery Automobile to set up a new joint venture, a source said. Jack Cheng, vice-president and chief procurement officer for Fiat China, said his company was negotiating with Anhui-based Chery to set up a joint venture. He declined to say when the deal could be clinched. Chery Automobile, the fourth-largest carmaker on the mainland, signed a contract to sell... https://www.scmp.com/article/634339/fiat-and-chery-driving-towards-joint-venture?utm_source=rss_feed https://www.scmp.com/article/634339/fiat-and-chery-driving-towards-joint-venture?utm_source=rss_feed Fri, 18 Apr 2008 16:00:00 +0000 Chery Automobile, which wants to expand beyond small economy cars, received final government approval yesterday to form a joint venture with an Israeli firm to build larger, more profitable vehicles. The National Development and Reform Commission yesterday approved Chery's bid to form a joint venture with Israel Corp's US-based unit, Quantum, to produce 150,000 vehicles annually. The joint venture will make passenger cars and sport-utility vehicles for the domestic and overseas markets, said... https://www.scmp.com/article/622220/chery-cleared-venture-make-larger-cars?utm_source=rss_feed https://www.scmp.com/article/622220/chery-cleared-venture-make-larger-cars?utm_source=rss_feed Tue, 08 Jan 2008 16:00:00 +0000 A YouTube posting showing Brilliance China's BS6 car crumple like a can in a German crash test in June was a public relations disaster for the mainland's car industry. 'Koreans build better cars. Say no to Chinese cars,' was one comment on the posting, highlighting the ground the industry has to make up if it is to win the trust of consumers outside the mainland. There have been some successes. Chery Automobile early last month said it would co-operate with Chrysler to produce cars,... https://www.scmp.com/article/605690/car-firms-face-uphill-drive-success?utm_source=rss_feed https://www.scmp.com/article/605690/car-firms-face-uphill-drive-success?utm_source=rss_feed Sun, 26 Aug 2007 16:00:00 +0000 Dmitry Sereda has not one but three mainland-made vehicles. 'I love Chinese cars. They're really cheap,' he said. 'And the quality is not bad.' The 34-year-old Muscovite was not so pleased with a Xinkai SRV that he later sold but swears by the engine, steering, traction and leather seating of his Safe SUV, made by Hebei-based Great Wall Motor and his M2 by Shenyang-based Brilliance Auto. Mr Sereda is one of thousands of Russians choosing mainland cars of 'not bad' quality for their cheap... https://www.scmp.com/article/605689/russians-look-chinese-cars-while-other-makes-take-back-seat?utm_source=rss_feed https://www.scmp.com/article/605689/russians-look-chinese-cars-while-other-makes-take-back-seat?utm_source=rss_feed Sun, 26 Aug 2007 16:00:00 +0000 Chery Automobile and Italian carmaker Fiat will establish a joint venture to produce and distribute cars, further cementing ties between the two companies. Each firm will have a 50 per cent stake in the venture, set to start production in 2009 with an annual capacity of 175,000 cars. The venture will produce and distribute Alfa Romeo, Fiat and Chery branded cars. Fiat is seeking new partnerships in the mainland after expressing unhappiness over its tie-up with Nanjing Automobile Group.... https://www.scmp.com/article/603415/chery-fiat-further-cement-ties?utm_source=rss_feed https://www.scmp.com/article/603415/chery-fiat-further-cement-ties?utm_source=rss_feed Tue, 07 Aug 2007 16:00:00 +0000 Carmaker expects pact to boost competitiveness abroad Chery Automobile has signed a contract to sell engines to Italy's Fiat Group, the mainland firm's second major push to tap the overseas markets after a car-making deal with the United States' Chrysler last month. Chery will provide 100,000 1.6-litre and 1.8-litre petrol engines for Fiat's cars, a deal its president Yin Tongyao said would increase its competitiveness in the international market. Fiat chief executive Sergio Marchionne said... https://www.scmp.com/article/603249/chery-signs-deal-supply-petrol-engines-italys-fiat?utm_source=rss_feed https://www.scmp.com/article/603249/chery-signs-deal-supply-petrol-engines-italys-fiat?utm_source=rss_feed Mon, 06 Aug 2007 16:00:00 +0000 Just a few feet away from flashy offerings by Ferrari and Maserati, mainland carmaker Chery's showcase at last month's Shanghai Auto Show tried to create a buzz with a greener touch. Nearly a dozen Chery models displayed stickers touting them as eco-friendly, with prototypes of fuel-cell, biodiesel and hybrid saloon cars all competing for attention with the sporty numbers nearby. Chery was by no means alone in touting its green credentials at the show. Everyone from General Motors to growing... https://www.scmp.com/article/593759/going-green-yes-long-road-lies-ahead?utm_source=rss_feed https://www.scmp.com/article/593759/going-green-yes-long-road-lies-ahead?utm_source=rss_feed Sun, 20 May 2007 16:00:00 +0000 Chery Automobile, which makes the popular QQ brand car, is considering calls by Italian carmaker Fiat Auto to expand their existing co-operation. Fiat president Sergio Marchionne 'has approached us for deeper co-operation in the future. He also showed an inclination to set up a joint venture, but we have not yet expressed our intentions,' Chery spokesman Wang Wei said. Fiat and Chery signed an engine-production agreement in October last year under which the mainland company would supply... https://www.scmp.com/article/580476/fiat-wants-deeper-alliance-chery?utm_source=rss_feed https://www.scmp.com/article/580476/fiat-wants-deeper-alliance-chery?utm_source=rss_feed Thu, 01 Feb 2007 16:00:00 +0000 Chery Automobile, the Anhui-based maker of the QQ brand cars in China, said it met the sales target for the domestic and overseas markets last year. The carmaker said sales jumped 61 per cent to 305,236 units during the 12 months, while exports surged 178 per cent to 50,000 units. Sources said Chery planned to sell shares next year, possibly in both the mainland A-share and the Hong Kong markets, confirming a Xinhua report. Chery spokesperson Wang Wei declined to comment yesterday. The... https://www.scmp.com/article/577285/chery-eyes-listing-after-meeting-sales-target?utm_source=rss_feed https://www.scmp.com/article/577285/chery-eyes-listing-after-meeting-sales-target?utm_source=rss_feed Tue, 02 Jan 2007 16:00:00 +0000 China yesterday reported an increase of more than 60 per cent in vehicle exports in the first half of the year but profits fell for the fourth consecutive year as makers cut prices to win market share. The data, published by the General Administration of Customs, said that in the first half, China exported 104,000 vehicles, including 23,300 passenger cars, a rise of 61.3 per cent over a year ago. For policymakers in Beijing, the best news from the data was a fourfold increase in the... https://www.scmp.com/article/556618/car-exports-skyrocket-profits-slide?utm_source=rss_feed https://www.scmp.com/article/556618/car-exports-skyrocket-profits-slide?utm_source=rss_feed Fri, 14 Jul 2006 16:00:00 +0000 China's vehicle industry enjoyed an excellent first five months of the year, with sales increasing nearly 30 per cent and profits up more than 70 per cent but rising inventories and threats of a price war bode for a leaner second half, according to official figures published yesterday. The State Development and Reform Commission said the industry posted profits of 28.4 billion yuan, the best five-month result in three years and a 70.8 per cent improvement over the year-ago period. Vehicle... https://www.scmp.com/article/554659/easing-price-war-lifts-profits-carmakers?utm_source=rss_feed https://www.scmp.com/article/554659/easing-price-war-lifts-profits-carmakers?utm_source=rss_feed Wed, 28 Jun 2006 16:00:00 +0000 Cut-throat competition, overcapacity and raw material expenses dent profits Higher raw material costs and price wars cut the profits of China's carmakers last year for the third successive year, with Chery Auto making just 200 yuan to 300 yuan on each sale of its most popular model - the QQ, which accounts for 60 per cent of sales - according to figures published yesterday. Sector profits fell 38.4 per cent to 21.2 billion yuan, with margins down from 9.11 per cent in 2003 to 6.85 per cent... https://www.scmp.com/article/536391/costs-batter-mainland-car-firms?utm_source=rss_feed https://www.scmp.com/article/536391/costs-batter-mainland-car-firms?utm_source=rss_feed Mon, 13 Feb 2006 16:00:00 +0000