Chinese Giant Chery Plans To Build Cars In UK

Chinese car giant Chery is considering building cars in the UK as part of its strategy to compete with traditional European manufacturers. UK CEO Victor Zhang told the BBC that it was only a "matter of time" before the company made a final decision on entering the UK.

It has already signed a joint venture agreement with Spain's EV Motors to build its first factory in Europe in April. The company, based in Wuhu, southeastern China, plans to expand internationally with two new brands, Omoda and Jaecoo. The carmaker has joined a slew of Chinese manufacturers vying for market share in Europe against Stellantis, Volkswagen, and BMW. Omoda launched in the United Kingdom last month, and its first models are now available for purchase.

Chery, founded in 1997, is one of China's largest automobile companies. It has ambitious plans to grow even further, expanding their cars globally. To help carry out that strategy, it has established two new international-focused brands, Omoda and Jaecoo.

However, it is not the only Chinese manufacturer who sees the British market as potentially profitable.
BYD, one of the world's largest EV manufacturers, has nearly tripled its market share in the United Kingdom in the last year. SAIC, headquartered in Shanghai, also has a significant presence in the United Kingdom, having acquired the iconic car brand MG in 2007.
Unlike its domestic competitors, Chery will not focus solely on electric models, despite impending bans on the sale of new petrol and diesel vehicles in the UK and Europe.

In addition to standard EVs, the company intends to build a range of gasoline, hybrid, and plug-in hybrid models. Sales of its mainstream SUV, the Omoda 5, have begun in both electric and gasoline-powered versions.
Chery's list includes other nations as well, though. it has been in discussions with the Italian government regarding the establishment of production in Italy, among other things. Zhang refuted the notion that the choice would ultimately depend on which nation could provide the most favorable incentives.