Chery aims to boost production in Europe

The Chinese automotive company Chery is analyzing the possibility of expanding car production in Europe, according to Reuters. The firm aims to utilize existing plants through cooperation with local manufacturers. This decision is intended to limit costs and accelerate development in the EU market. Chery's strategy involves avoiding large investments in new assembly plants. Company representatives indicate that a partnership-based model allows for faster entry into new markets and reduces financial risk. They have not disclosed which manufacturers are in talks or in how many countries. France is frequently mentioned as a potential location. CEO Yin Tongyue told Reuters, "These processes require time and commitment, but above all, establishing the right local partnerships. I am very hopeful that in the coming months we will have some news for you." Chery already has a "production foothold" in Europe through a joint venture with Ebro at the former Nissan factory in Barcelona, which is set to reach an annual production capacity of 200,000 vehicles by 2029. The company is also expanding its product lineup in Europe, introducing Omoda and Jaecoo models in France, with a Chery-branded model planned for the fourth quarter and a possible launch of a small electric SUV by year-end. The conglomerate has also announced the introduction of a new brand, Lepas, to Europe