Since competition in China’s EV market is already fierce and only getting more so, many domestic EV manufacturers are looking abroad for growth opportunities. Chery is just the latest to enter the European market or announce intentions to do so.
According to data from 2022, Chery is the eighth largest automaker in China by sales volume, and the company has plans to introduce three of its brands to Europe. Omoda and Jaecoo will be the first two, and they will be sold in Germany, the United Kingdom, Spain, Italy, and France.
Chery plans to release three SUVs under both brands by the end of 2025, with fully electric variants available (likely only in Western Europe and not in southern markets).
Chery Omoda 5 compact crossover
“We’re heavily focusing with these two brands on the growing SUV segment to ensure that we can develop significant sales relatively quickly,” said Jochen Tueting, managing director of Chery Europe. In April 2019, Germany will welcome the Omoda 5 compact crossover in a fully electric version, with prices beginning at around €30,000.
In 2019, Chery will evaluate its options for establishing a European manufacturing presence through the purchase or construction of an assembly plant. We should have local production wherever we have market confidence that we can sell adequate volumes,” Tueting said.
The all-electric Exlantix brand will make its debut in Europe sometime in the first half of 2025.