Overview Chery Automobile Co. Ltd., trading as Chery (Chinese: 奇瑞; pinyin: Qíruì), is a Chinese automobile manufacturer owned by Chery Holding Group Co., Ltd. Founded in 1997, Chery is currently the fourth largest automobile manufacturer group in China, with 2,603,916 vehicles sold in 2024. The company is headquartered in Wuhu, Anhui, China, and remains under the ownership of the Wuhu municipal government.
Chery was founded by government officials of Wuhu, who appointed Yin Tongyue as the company’s first technical director. The company launched its first car, the Fengyun, in 1999, using a licensed SEAT chassis. Initially, Chery utilized technologies from other manufacturers, both legally licensed and acquired through reverse engineering. This led to a lawsuit from General Motors in 2003, alleging Chery had copied one of its designs. Since then, Chery has developed its own proprietary technologies and has been producing its ACTECO engine series since 2006.
Exports and Global Expansion Chery began exporting cars from China in 2001, ahead of many other Chinese manufacturers. It has been the leading exporter of Chinese passenger vehicles since 2003. Export figures include:
- 269,154 vehicles in 2021
- 451,337 vehicles in 2022
- 937,148 vehicles in 2023
- 1,144,588 vehicles in 2024
In 2024, Chery Holding Group made its debut on the Fortune Global 500 list, securing the 385th position with revenue of $39.0917 billion. The company invests significantly in overseas markets, assembling vehicles outside China using complete or semi-knock-down kits.
Brands and Joint Ventures Chery operates a multi-brand strategy, managing several car brands for different markets:
- Chery: Main brand, including sub-brands Fulwin (plug-in hybrid) and Chery New Energy (electric vehicles)
- Exeed: Premium brand
- Luxeed: Collaborative electric car brand with Huawei
- Jetour: SUV-focused brand
- iCar: Electric SUV brand
- Karry: Commercial vehicles
- Omoda, Jaecoo, and Exlantix: Export-focused brands
- Chery Jaguar Land Rover: Joint venture with JLR since 2012 to produce Jaguar and Land Rover vehicles in China
History and Development Chery was founded on January 8, 1997, as a state-owned enterprise. The company was incorporated as Anhui Auto Parts Co., Ltd., with funding from the Anhui provincial government. In 1999, Chery launched its first car, the Fengyun, which sold nearly 30,000 units in its debut year.
Key Milestones:
- 2003: General Motors sued Chery for copying the Daewoo Matiz design in its QQ model. The case was settled in 2005.
- 2006: Chery began producing its ACTECO engine series.
- 2009: Chery produced over 508,500 vehicles and expanded its production capabilities.
- 2011: The company established Chery Holding Co., Ltd.
- 2012: Joint venture established with Jaguar Land Rover.
- 2014: Chery began production in Brazil.
- 2017: Launched the premium Exeed brand.
- 2023: Expansion of Omoda and Jaecoo brands in international markets.
- 2024: Strategic partnerships with Nio, Soueast, and Jaguar Land Rover.
Research & Development and Design Chery invests around 7% of its total sales in research and development and has over 4,000 patents. The company has R&D centers in China (Wuhu, Changshu) and abroad (Raunheim, Germany). It has collaborated with AVL, ArvinMeritor, Delphi, Siemens, Valeo, and other foreign component firms to enhance its vehicle technology.
Notable design leaders include:
- James Hope (former GM designer)
- Hakan Saracoglu (former Porsche designer)
- Kevin Rice (former Mazda Europe design director)
- Steve Eum (former GM designer)
Chery in Overseas Markets Chery has a strong presence in key international markets, including:
- Brazil: Operates through Caoa Chery, with a manufacturing plant in Jacareí.
- Mexico: Entered the market as “Chirey,” launching Omoda and Jaecoo brands.
- Russia: Significant market growth following Western automakers’ exits due to the Ukraine conflict.
- Australia: Re-entered in 2023 with Omoda 5 and plans for further expansion.
- Europe: Joint venture with EV Motors in Spain; expansion into Italy and Western European markets.
- South Africa: Growing market, re-entered in 2022, with Omoda and Jaecoo brands launching in 2023-24.
Sales Performance Chery has seen significant sales growth in recent years:
- 2010: 750,456 units
- 2015: 575,108 units
- 2020: 731,117 units
- 2023: 1,881,316 units
- 2024: 2,603,916 units
Chery continues to expand its product lineup, focusing on plug-in hybrids and electric vehicles to align with global trends in sustainable mobility.
