{"id":49453,"date":"2026-04-28T09:04:34","date_gmt":"2026-04-28T09:04:34","guid":{"rendered":"https:\/\/ipp-news.com\/?p=49453"},"modified":"2026-04-28T09:04:34","modified_gmt":"2026-04-28T09:04:34","slug":"chinas-chery-seeks-to-be-toyota-plus-tesla-as-it-targets-global-expansion","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=49453","title":{"rendered":"China’s Chery seeks to be ‘Toyota plus Tesla’ as it targets global expansion"},"content":{"rendered":"
Chery, China’s largest car exporter, is taking inspiration from two very different automakers – Toyota and Tesla – as it pursues expansion in Europe and beyond, its \u200btop executive told Reuters.<\/p>\n

Chery is considering adding production capacity in Barcelona, Spain, where it has a joint venture. It is also \u200clooking for more opportunities to share production facilities with European car companies, Chairman Yin Tongyue said in an interview on Monday.<\/p>\n

Founded in 1996 on the banks of the Yangtze River, Chery’s first car rolled off the assembly line in 1999. It was originally known as Cheery and billed itself as a cheerful, low-cost brand. Now it sees itself in the \u200bmould of Toyota, synonymous with quality, and Tesla, which some say is known for its innovation.<\/p>\n

“Our strategy, we call it ‘double T,'” Yin said at Chery’s \u200bglobal headquarters in the eastern city of Wuhu. “Toyota plus Tesla”.<\/p>\n

That means producing cars with both the quality to win over \u2060customers for the long term and the advanced technology to attract younger buyers, he said.<\/p>\n

Chery and competitors BYD and Geely are among the Chinese automakers \u200bupending the global industry with cutting-edge electric vehicles at prices traditional automakers cannot match. China’s annual auto show, held this year in Beijing and open to \u200bthe public starting this week, is now the largest such event in the world.<\/p>\n

Chery sold 2.8million cars last year, up nearly 8% from a year earlier, according to industry data. It is building its Ebro brand of cars in Spain with a local JV at a former Nissan plant in Barcelona.<\/p>\n

“Right now it’s very good,” Yin said of the \u200bSpanish operation, adding that Chery wanted to “enlarge this capacity in Barcelona” and potentially export cars to other markets.<\/p>\n

However, it wasn’t sustainable to ship cars from \u200bone country to others in large volumes, he said. Instead, Chery wanted to manufacture more in local markets and was actively looking to partner with other automakers in Europe \u200cto share \u2060production facilities, Yin said, without providing details on which countries it was considering.<\/p>\n

“We can share profits, we can share models,” he said of potential tie-ups.<\/p>\n

Global surge<\/p>\n

Chery’s global sales have surged in recent years, almost quadrupling from 2020 to 2025. Still, the automaker remains well behind domestic rival BYD, which sold 4.6 million cars in 2025, becoming the world’s No. 5 automaker by volume.<\/p>\n

The graphic shows the dramatic growth of Chinese carmaker Chery, which quadrupled its sales from 2020 to 2025.<\/p>\n

Chery launched two new international brands – Omoda and Jaecoo – in 2023. It sold 380,000 of the two \u200bbrands combined last year, and the \u200bcompany told dealers and staff over \u2060the weekend in Wuhu that it is targeting combined sales of 1 million vehicles in 2027.<\/p>\n

The graphic shows the rapid growth of some Chinese automakers in Europe.<\/p>\n

The automaker hosted an “international business summit” in Wuhu over the past few days. Company representatives said some 4,000 people, including international dealers and suppliers, \u200battended.<\/p>\n

The Jaecoo 7 SUV has done particularly well in some markets and was Britain’s top-selling car in March.<\/p>\n

Chery’s \u200bbrands are heavily reliant \u2060on sport utility vehicles – 2.3 million out of the 2.8 million vehicles it sold last year worldwide were SUVs – and the company is now working on smaller models to broaden its lineup.<\/p>\n

The push to build smaller is also a sign of Chery’s global ambitions. Chinese consumers traditionally prefer large cars, unlike Europeans, Yin said.<\/p>\n

Like the rest \u2060of its \u200bdomestic rivals, Chery has to contend with a brutal price war at home, where there \u200bare more than 100 auto brands. But Yin said he believed a long-overdue shakeout in the industry was imminent.<\/p>\n

“In a couple of years, maybe a very few can survive and be healthy,” he \u200bsaid. “Right now, it’s coming”.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Chery, China’s largest car exporter, is taking inspiration from two very different automakers – Toyota and Tesla – as it pursues expansion in Europe and beyond, its \u200btop executive told Reuters. Chery is considering adding production capacity in Barcelona, Spain, where it has a joint venture. It is also \u200clooking for more opportunities to share […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-49453","post","type-post","status-publish","format-standard","hentry","category-english-news"],"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/49453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49453"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/49453\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}