China's Chery expects overseas-manufactured vehicles to top 50% of exports, exec says
China's Chery expects overseas-manufactured vehicles to top 50% of exports, exec says WUHU, China, Oct 23 (Reuters) - Chery 9973.HK expects more than half of the vehicles it exports to be made overseas by the end of this year, with the share rising to 60% next year and 70% by 2030, Executive Vice President Zhang Guibing said on Friday at an event.
Here are some more details:
Zhang said overseas manufactured vehicles account for about 48% of its export volume this year
Zhang said the company is pursuing local manufacturing not only to sell vehicles but also to create jobs and "cooperate with local technologies"
"Step by step, we are trying to localize production and rely mainly on local manufacturing," he told an event in Chery's headquarters in Wuhu
Chery, which sells the Omoda and Jaecoo brands, is one of several Chinese automakers disrupting the global auto industry with advanced technology and prices that legacy car companies have struggled to match
The company said it will start building fast-charging and energy storage stations in countries including UK, Spain and Thailand from 2027 and will launch robotaxis first in UAE from next year
(Reporting by Qiaoyi Li, Zhang Yan and Kevin Krolicki in Wuhu, Shi Bu in Beijing; Editing by Mrigank Dhaniwala)
((Shi.Bu@thomsonreuters.com;))
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