CHERY AUTO ELECTRIC CARS
In March 2016 Chery Auto was honored with “Best Globalization Strategy for the year 2015” among Chinese Vehicle manufacturers. Chery is a leader in the EV sector with one of the first production cars as far back as 2008. Chery broke ground on its new electric vehicle assembly plant, situated in Wuhu, Anhui Province, East China in February 2016. At $240M for the first phase, which will produce 100,000 EV’s per anum. The company aims to manufacture 200,000 vehicles per year by 2020, up from its 14,000 in 2015. Chery launched a budget brand, Cowin Auto, in 2014 spinning off its Cowin petrol model series into the brand. Other joint ventures the company is involved in includes Qoros Auto where it partnered with an Israeli investment firm, primarily focus on the B and C segments for trendy young urbanites. Chery competes with other industry heavyweights such as GM/SAIC’s Baojun brand and Geely in the Chinese minicar segment.
In March 2017 Chery announced its second EV assembly plant in Dezhou, Shandong Province. The 60,000 unit plant comes at the cost of $145 million, bringing total EV capacity to 160,000 per annum. The plant will produce the eQ and eQ1 models.
CHERY AUTO EV SALES
CHERY AUTO ELECTRIC CARS IN THE NEWS
2017 Week 19 - Chery Auto to sell Arrizo 5 EV
Chery Auto announced that it will start selling a full-electric version of its Arrizo 5 compact sedan from June 2107.
2017 Week 12 - Chery Auto hit Mercedes-Benz EQ with trademark complaint
A trademark complaint in China filed by Chery Auto will hamper Mercedes-Benz new electric vehicle brand EQ‘s international aspirations. The Chery eQ, one of the most popular EV micro car’s in China over the last two years share too much similarity for the German automaker to be allowed to use the name in the worlds’ largest electric vehicle market. The Chery eQ sold around 25,000 units since it’s launch in 2015, making it one of the top 10 electric vehicles in the country. Mercedes-Benz launched the EQ brand at the Paris Auto Show in late 2016 to house all its electric vehicle products and services. One can only wonder how a large corporate could have let that one slide! The EQ brand stands for “Electric Intelligence” and is the spearhead for Daimler’s efforts to have electric vehicles represent between 15% and 25% of its global sales.
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How successful is the Chinese New Energy Vehicles Program? The State Auditor found that 45% of Chinese EV makers sold less than 500 models per year.
Traum Auto, another new vehicle brand chasing the Chinese dream. The latest brand is from the Zotye stable officially launched on the 27th of June 2017.
In this week’s blog series on introducing Chinese electric car brands, we look at Thunder Power Holdings ( #ThunderPower ).