Shanghai (Gasgoo)- During the past 2017, Chery gained remarkable achievements worldwide, especially in the overseas market, which has aroused wide attention. The sales of Chery reached 680,000 units in 2017, of which 108,000 units were exported, an increase of 22.3% on an annual basis. With a total export volume exceeding 1,300,000 vehicles, Chery has become one of the leading OEMs in vehicle exporting field in China. So, what happened to Chery in the past 2017? You may find your answer in this article.
Baoneng becomes controlling shareholder of Qoros
In December, 2017, Chery announced that the company had reached a strategic agreement with Baoneng Group in terms of investing in Qoros. Qoros is 50% owned by Quantum 2007 (LLC) and 50% by Wuhu Chery Automobile Investment Company Limited.According to Kenon Holdings, Quantum’s parent company, Baoneng agreed to invest approximately RMB 6.5 billion for a controlling interest in Qoros. The transaction is still subject to certain conditions. The public tender of Chery showed that the company would like to sell half of its stake in Qoros with a floor price of RMB 1.625 billion.
Chery launches "WWW+" global market strategy
Chery, who was burdened with gossip "packaged and sold", held a grand conference in Beijing on Nov. 11, 2017. At the conference, Chery launched "WWW+" global market strategy and signed a cooperation agreement with Brazil's largest automotive manufacturer CAOA. Moreover, Chery also released the 2018 Tiggo 7 manual version.
Chery plans to build design center in Europe
In September, 2017, since Chery desired to launch a series of electric vehicles in Europe, it planned to build its first design center in Europe. According to James Hope, the design director of Chery, Berlin would be one of the candidate sites for Chery’s design centers. It was reported that this was the second time that Chery had asked Hope to set up a design center to deepen its global influence.
Chery exports self-developed engine to the United States
According to the news from Chery’s official website, Chery's first 500 "self-independently developed electronic control unit" engine was exported to the United States in June, 2017. The export had an epoch-making significance, because the "core control brain"-the ECU had been independently developed by Chery, breaking the long-term monopoly of foreign technology.
Chery deepens cooperation with Baidu in driverless car field
During the Shanghai auto show in April, 2017, Chery and Baidu signed a strategic cooperation framework agreement to explore the future mobility modes of the Chinese market. It was also learned that Chery and Baidu signed a memorandum of strategic cooperation at the Silicon Valley. They would jointly promote cooperation in the field of connected vehicle, highly autonomous driving and driverless driving. It was reported that the driverless vehicle developed by two sides was planned to be put into market in 2021.
Chery New Energy company in Hefei likely to have annual production capacity of 100,000 units
In May, 2017, Chery reportedly invested RMB 3 billion to build a new energy plant. Previously, Chery Auto had announced its new energy planning, aiming to gradually build a system with vehicle integration, core technology and developing capabilities of core components, as well as introducing more and more products to meet the consumers' demands. In addition, the new production line would be located in Hechao Economic Development Zone, Huashan industrial park, Hefei, Anhui Province, with an annual capacity of up to 100,000 vehicles.
Chery invests RMB 3 billion in NEV project in Shijiazhuang
On May 3rd, 2017, Chery signed a framework agreement with Shijiazhuang municipal government on the project of new energy vehicles’ production base. It was learned that Chery’s total investment on new energy vehicles’ production base in Shijiazhuang would reach RMB 3 billion.
Chery’s new energy base in Shandong will be put into operation in May
Chery planned to expand its lineup of new energy products, the eQ1, an electric vehicle under Chery, was officially launched on March 25, 2017. At the same time, Chery will continue to expand its production capacity for new energy products, providing support for the product's market demand. Chery’s new energy vehicles production base in Qihe, Shandong Province, was expected to put into production in May 2017. According to the revealed information, the total investment of the new factory project would reach RMB1 billion and the annual production capacity may up to 100,000 units.
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