China's Chery expects overseas-manufactured vehicles to top 50% of exports, exec says

WUHU, China, Oct 23 — Chery 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)

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