The anticipation for Chery’s arrival in Europe has been palpable, and now the Chinese manufacturer is eager to expand its presence. In a recent announcement, President Yin Tongyue revealed Chery’s intention to forge partnerships with two premium European brands to collaborate on the development of new platforms.
The revelation came during the unveiling of the Exeed Exlantix ET, Chery’s luxury electric SUV. It is with this brand that Chery will embark on developing new platforms. President Yin disclosed, “The two European brands want to use our platform, and there will be an agreement with one of them. A brand more premium than us.” This signals a significant step for Chery’s integration into the European automotive market.
Yin Tongyue mentioned that this agreement would be finalized on April 16, 2024, during his visit to Europe. It will allow the European brands to leverage Chery’s innovative EoX platform, upon which the Exlantix ET is built. Notably, Chinese manufacturers, as highlighted by De Meo, are “10 years ahead” in electric platform development, emphasizing the need for collaborations. The EoX platform features cutting-edge CATL batteries, capable of maintaining efficiency even at extremely low temperatures.
In addition to the partnership with the two European brands, Chery is in negotiations with two other manufacturers for collaborations. Furthermore, it is finalizing an agreement for automobile production in Spain, where it aims to establish its first European production facility, as announced by the Spanish government in early April. Specifically, Chery is expected to acquire the former Nissan plant, which closed in 2021.
The identities of the partnering brands remain undisclosed. However, it is worth noting that in China, Chery has a joint venture with Jaguar Land Rover for the production of Jaguar and Land Rover vehicles. If the partnering brands are indeed premium, they could potentially be the two prestigious British brands. More details are expected to emerge throughout the week.
Chery’s strategic moves reflect its commitment to global expansion and technological advancement. With its innovative platforms and partnerships, Chery is poised to make significant strides in the European automotive landscape.
Source: Chery