
Ineos may use Chery platform for smaller SUV
The Ineos Fusilier may actually come to life after all, but with a little help from Chinese automaker Chery.
According to Autocar, Ineos has opened discussions with Chery about using the Chery's iCar battery-electric (EV) and range-extender electric vehicle (EREV) platform architecture for the stalled Fusilier project.
Ineos unveiled the Fusilier concept in February 2024 with a view to putting it into production by 2027 as smaller companion to the Grenadier SUV and Quartermaster ute. The Fusilier concept had a skateboard platform designed for pure electric and EREV drivetrains.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now.
By July that year, though, the company beat a strategic retreat, delaying the car's launch indefinitely due to "reluctant consumer uptake of EVs, and industry uncertainty around tariffs, timings and taxation".
Using an existing platform from another automaker will save Ineos both time and money. Once the Fusilier is on the market, it will help Ineos meet its CO2 emissions targets in the UK and Europe.
At present Ineos sells some of its cars as commercial vehicles, as they have less stringent targets.
Currently the iCar brand is only available in China, although the brand's first model, the 03, is available in some export markets under the Chery or Jaecoo marques.
The iCar V23 (above), which was unveiled at the end of 2024 and measures just 4.2m long, is available with a 100kW/180Nm single-motor drivetrain with either a 47.3kWh or 59.9kWh battery, or a 155kW/292Nm dual-motor system with an 81.8kWh battery.
Chery has confirmed it will launch the iCar brand in Europe and Australia, although in these markets the name is being tweaked to iCaur in order to avoid a trademark conflict with Apple.
Should this collaboration with Ineos come about, it will be Chery's second SUV partnership with a foreign brand.
Through its relationship with JLR (Jaguar Land Rover), it will build and launch the Freelander brand in China before taking it across the world.
The new Freelander models will replace local production of Jaguar and Land Rover models at the company's joint venture factory in Changshu.
MORE: Everything Ineos
Content originally sourced from: CarExpert.com.au
The Ineos Fusilier may actually come to life after all, but with a little help from Chinese automaker Chery.
According to Autocar, Ineos has opened discussions with Chery about using the Chery's iCar battery-electric (EV) and range-extender electric vehicle (EREV) platform architecture for the stalled Fusilier project.
Ineos unveiled the Fusilier concept in February 2024 with a view to putting it into production by 2027 as smaller companion to the Grenadier SUV and Quartermaster ute. The Fusilier concept had a skateboard platform designed for pure electric and EREV drivetrains.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now.
By July that year, though, the company beat a strategic retreat, delaying the car's launch indefinitely due to "reluctant consumer uptake of EVs, and industry uncertainty around tariffs, timings and taxation".
Using an existing platform from another automaker will save Ineos both time and money. Once the Fusilier is on the market, it will help Ineos meet its CO2 emissions targets in the UK and Europe.
At present Ineos sells some of its cars as commercial vehicles, as they have less stringent targets.
Currently the iCar brand is only available in China, although the brand's first model, the 03, is available in some export markets under the Chery or Jaecoo marques.
The iCar V23 (above), which was unveiled at the end of 2024 and measures just 4.2m long, is available with a 100kW/180Nm single-motor drivetrain with either a 47.3kWh or 59.9kWh battery, or a 155kW/292Nm dual-motor system with an 81.8kWh battery.
Chery has confirmed it will launch the iCar brand in Europe and Australia, although in these markets the name is being tweaked to iCaur in order to avoid a trademark conflict with Apple.
Should this collaboration with Ineos come about, it will be Chery's second SUV partnership with a foreign brand.
Through its relationship with JLR (Jaguar Land Rover), it will build and launch the Freelander brand in China before taking it across the world.
The new Freelander models will replace local production of Jaguar and Land Rover models at the company's joint venture factory in Changshu.
MORE: Everything Ineos
Content originally sourced from: CarExpert.com.au
The Ineos Fusilier may actually come to life after all, but with a little help from Chinese automaker Chery.
According to Autocar, Ineos has opened discussions with Chery about using the Chery's iCar battery-electric (EV) and range-extender electric vehicle (EREV) platform architecture for the stalled Fusilier project.
Ineos unveiled the Fusilier concept in February 2024 with a view to putting it into production by 2027 as smaller companion to the Grenadier SUV and Quartermaster ute. The Fusilier concept had a skateboard platform designed for pure electric and EREV drivetrains.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now.
By July that year, though, the company beat a strategic retreat, delaying the car's launch indefinitely due to "reluctant consumer uptake of EVs, and industry uncertainty around tariffs, timings and taxation".
Using an existing platform from another automaker will save Ineos both time and money. Once the Fusilier is on the market, it will help Ineos meet its CO2 emissions targets in the UK and Europe.
At present Ineos sells some of its cars as commercial vehicles, as they have less stringent targets.
Currently the iCar brand is only available in China, although the brand's first model, the 03, is available in some export markets under the Chery or Jaecoo marques.
The iCar V23 (above), which was unveiled at the end of 2024 and measures just 4.2m long, is available with a 100kW/180Nm single-motor drivetrain with either a 47.3kWh or 59.9kWh battery, or a 155kW/292Nm dual-motor system with an 81.8kWh battery.
Chery has confirmed it will launch the iCar brand in Europe and Australia, although in these markets the name is being tweaked to iCaur in order to avoid a trademark conflict with Apple.
Should this collaboration with Ineos come about, it will be Chery's second SUV partnership with a foreign brand.
Through its relationship with JLR (Jaguar Land Rover), it will build and launch the Freelander brand in China before taking it across the world.
The new Freelander models will replace local production of Jaguar and Land Rover models at the company's joint venture factory in Changshu.
MORE: Everything Ineos
Content originally sourced from: CarExpert.com.au
The Ineos Fusilier may actually come to life after all, but with a little help from Chinese automaker Chery.
According to Autocar, Ineos has opened discussions with Chery about using the Chery's iCar battery-electric (EV) and range-extender electric vehicle (EREV) platform architecture for the stalled Fusilier project.
Ineos unveiled the Fusilier concept in February 2024 with a view to putting it into production by 2027 as smaller companion to the Grenadier SUV and Quartermaster ute. The Fusilier concept had a skateboard platform designed for pure electric and EREV drivetrains.
Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now.
By July that year, though, the company beat a strategic retreat, delaying the car's launch indefinitely due to "reluctant consumer uptake of EVs, and industry uncertainty around tariffs, timings and taxation".
Using an existing platform from another automaker will save Ineos both time and money. Once the Fusilier is on the market, it will help Ineos meet its CO2 emissions targets in the UK and Europe.
At present Ineos sells some of its cars as commercial vehicles, as they have less stringent targets.
Currently the iCar brand is only available in China, although the brand's first model, the 03, is available in some export markets under the Chery or Jaecoo marques.
The iCar V23 (above), which was unveiled at the end of 2024 and measures just 4.2m long, is available with a 100kW/180Nm single-motor drivetrain with either a 47.3kWh or 59.9kWh battery, or a 155kW/292Nm dual-motor system with an 81.8kWh battery.
Chery has confirmed it will launch the iCar brand in Europe and Australia, although in these markets the name is being tweaked to iCaur in order to avoid a trademark conflict with Apple.
Should this collaboration with Ineos come about, it will be Chery's second SUV partnership with a foreign brand.
Through its relationship with JLR (Jaguar Land Rover), it will build and launch the Freelander brand in China before taking it across the world.
The new Freelander models will replace local production of Jaguar and Land Rover models at the company's joint venture factory in Changshu.
MORE: Everything Ineos
Content originally sourced from: CarExpert.com.au

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The Advertiser
24 minutes ago
- The Advertiser
2025 Chery Tiggo 7 Super Hybrid is Australia's cheapest PHEV
The 2025 Chery Tiggo 7 Super Hybrid SUV will start from $39,990 drive-away, making it Australia's cheapest plug-in hybrid vehicle (PHEV) when it lands in showrooms next month. The five-seat Tiggo 7 Super Hybrid's $39,990 national drive-away price undercuts the Jaecoo J7 SHS Summit's $47,990 drive-away sticker, as well as the the MG HS Super Hybrid's $52,990 drive-away starting point. The Tiggo 7 Super Hybrid will be available in two model grades, with the entry-level $39,990 Urban joined by the top-spec Ultimate at $43,990 drive-away. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. It's the same $4000 walk between the two model grades as with the petrol-only Tiggo 7 Pro SE and SE+, which are $29,990 and $33,990 respectively – meaning a $10,000 premium for the PHEV powertrain. The Tiggo 7 Super Hybrid uses a 105kW/215Nm 1.5-litre turbocharged four-cylinder petrol engine and a 150kW/310Nm electric motor to power the front wheels only. The system offers four driving modes – Pure Electric, Series, Parallel and Energy Recovery – with up to 93km (NEDC) of electric only driving at speeds of up to 120km/h. The 18.3kWh lithium iron phosphate (LFP) battery can take an 80 per cent top-up using a 40kW fast charger in 20 minutes. Chery says the overall range of the Super Hybrid system is 1200km, and quotes combined fuel consumption of 1.4L/100km – compared to 7.0L/100km in the entry-level petrol-only Tiggo Pro 7 SE. Above: Chery Tiggo 7 Pro interior Standard equipment on both Super Hybrids includes a diamond-cut front grille – which Chery says will filter down to petrol models – 18-inch alloy wheels, LED projector headlights and integrated LED tail lights. Inside, synthetic leather seat upholstery covers all five seats, including the six-way power adjustable driver's seat, while there's a 12.3-inch centre touchscreen and a 12.3-inch driver's instrument cluster. Intelligent Voice Command – which begins with "Hello Chery" – is standard and operates through the six-speaker stereo, as does the wired Apple CarPlay and wireless Android Auto connectivity. Driver assist tech sees adaptive cruise control and lane-keep assist alongside the mandatory autonomous emergency braking (AEB) as well as front, front side and centre, driver knee and side curtain airbags. The Ultimate adds a powered panoramic sunroof, privacy glass, heated and ventilated front seats with driver memory, a 360-degree around view monitor and an eight-speaker Sony premium stereo. The Tiggo 7 Super Hybrid is covered by Chery's seven-year/unlimited kilometre warranty, which includes capped price servicing and roadside assistance. MORE: Everything Chery Tiggo 7 Content originally sourced from: The 2025 Chery Tiggo 7 Super Hybrid SUV will start from $39,990 drive-away, making it Australia's cheapest plug-in hybrid vehicle (PHEV) when it lands in showrooms next month. The five-seat Tiggo 7 Super Hybrid's $39,990 national drive-away price undercuts the Jaecoo J7 SHS Summit's $47,990 drive-away sticker, as well as the the MG HS Super Hybrid's $52,990 drive-away starting point. The Tiggo 7 Super Hybrid will be available in two model grades, with the entry-level $39,990 Urban joined by the top-spec Ultimate at $43,990 drive-away. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. It's the same $4000 walk between the two model grades as with the petrol-only Tiggo 7 Pro SE and SE+, which are $29,990 and $33,990 respectively – meaning a $10,000 premium for the PHEV powertrain. The Tiggo 7 Super Hybrid uses a 105kW/215Nm 1.5-litre turbocharged four-cylinder petrol engine and a 150kW/310Nm electric motor to power the front wheels only. The system offers four driving modes – Pure Electric, Series, Parallel and Energy Recovery – with up to 93km (NEDC) of electric only driving at speeds of up to 120km/h. The 18.3kWh lithium iron phosphate (LFP) battery can take an 80 per cent top-up using a 40kW fast charger in 20 minutes. Chery says the overall range of the Super Hybrid system is 1200km, and quotes combined fuel consumption of 1.4L/100km – compared to 7.0L/100km in the entry-level petrol-only Tiggo Pro 7 SE. Above: Chery Tiggo 7 Pro interior Standard equipment on both Super Hybrids includes a diamond-cut front grille – which Chery says will filter down to petrol models – 18-inch alloy wheels, LED projector headlights and integrated LED tail lights. Inside, synthetic leather seat upholstery covers all five seats, including the six-way power adjustable driver's seat, while there's a 12.3-inch centre touchscreen and a 12.3-inch driver's instrument cluster. Intelligent Voice Command – which begins with "Hello Chery" – is standard and operates through the six-speaker stereo, as does the wired Apple CarPlay and wireless Android Auto connectivity. Driver assist tech sees adaptive cruise control and lane-keep assist alongside the mandatory autonomous emergency braking (AEB) as well as front, front side and centre, driver knee and side curtain airbags. The Ultimate adds a powered panoramic sunroof, privacy glass, heated and ventilated front seats with driver memory, a 360-degree around view monitor and an eight-speaker Sony premium stereo. The Tiggo 7 Super Hybrid is covered by Chery's seven-year/unlimited kilometre warranty, which includes capped price servicing and roadside assistance. MORE: Everything Chery Tiggo 7 Content originally sourced from: The 2025 Chery Tiggo 7 Super Hybrid SUV will start from $39,990 drive-away, making it Australia's cheapest plug-in hybrid vehicle (PHEV) when it lands in showrooms next month. The five-seat Tiggo 7 Super Hybrid's $39,990 national drive-away price undercuts the Jaecoo J7 SHS Summit's $47,990 drive-away sticker, as well as the the MG HS Super Hybrid's $52,990 drive-away starting point. The Tiggo 7 Super Hybrid will be available in two model grades, with the entry-level $39,990 Urban joined by the top-spec Ultimate at $43,990 drive-away. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. It's the same $4000 walk between the two model grades as with the petrol-only Tiggo 7 Pro SE and SE+, which are $29,990 and $33,990 respectively – meaning a $10,000 premium for the PHEV powertrain. The Tiggo 7 Super Hybrid uses a 105kW/215Nm 1.5-litre turbocharged four-cylinder petrol engine and a 150kW/310Nm electric motor to power the front wheels only. The system offers four driving modes – Pure Electric, Series, Parallel and Energy Recovery – with up to 93km (NEDC) of electric only driving at speeds of up to 120km/h. The 18.3kWh lithium iron phosphate (LFP) battery can take an 80 per cent top-up using a 40kW fast charger in 20 minutes. Chery says the overall range of the Super Hybrid system is 1200km, and quotes combined fuel consumption of 1.4L/100km – compared to 7.0L/100km in the entry-level petrol-only Tiggo Pro 7 SE. Above: Chery Tiggo 7 Pro interior Standard equipment on both Super Hybrids includes a diamond-cut front grille – which Chery says will filter down to petrol models – 18-inch alloy wheels, LED projector headlights and integrated LED tail lights. Inside, synthetic leather seat upholstery covers all five seats, including the six-way power adjustable driver's seat, while there's a 12.3-inch centre touchscreen and a 12.3-inch driver's instrument cluster. Intelligent Voice Command – which begins with "Hello Chery" – is standard and operates through the six-speaker stereo, as does the wired Apple CarPlay and wireless Android Auto connectivity. Driver assist tech sees adaptive cruise control and lane-keep assist alongside the mandatory autonomous emergency braking (AEB) as well as front, front side and centre, driver knee and side curtain airbags. The Ultimate adds a powered panoramic sunroof, privacy glass, heated and ventilated front seats with driver memory, a 360-degree around view monitor and an eight-speaker Sony premium stereo. The Tiggo 7 Super Hybrid is covered by Chery's seven-year/unlimited kilometre warranty, which includes capped price servicing and roadside assistance. MORE: Everything Chery Tiggo 7 Content originally sourced from: The 2025 Chery Tiggo 7 Super Hybrid SUV will start from $39,990 drive-away, making it Australia's cheapest plug-in hybrid vehicle (PHEV) when it lands in showrooms next month. The five-seat Tiggo 7 Super Hybrid's $39,990 national drive-away price undercuts the Jaecoo J7 SHS Summit's $47,990 drive-away sticker, as well as the the MG HS Super Hybrid's $52,990 drive-away starting point. The Tiggo 7 Super Hybrid will be available in two model grades, with the entry-level $39,990 Urban joined by the top-spec Ultimate at $43,990 drive-away. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. It's the same $4000 walk between the two model grades as with the petrol-only Tiggo 7 Pro SE and SE+, which are $29,990 and $33,990 respectively – meaning a $10,000 premium for the PHEV powertrain. The Tiggo 7 Super Hybrid uses a 105kW/215Nm 1.5-litre turbocharged four-cylinder petrol engine and a 150kW/310Nm electric motor to power the front wheels only. The system offers four driving modes – Pure Electric, Series, Parallel and Energy Recovery – with up to 93km (NEDC) of electric only driving at speeds of up to 120km/h. The 18.3kWh lithium iron phosphate (LFP) battery can take an 80 per cent top-up using a 40kW fast charger in 20 minutes. Chery says the overall range of the Super Hybrid system is 1200km, and quotes combined fuel consumption of 1.4L/100km – compared to 7.0L/100km in the entry-level petrol-only Tiggo Pro 7 SE. Above: Chery Tiggo 7 Pro interior Standard equipment on both Super Hybrids includes a diamond-cut front grille – which Chery says will filter down to petrol models – 18-inch alloy wheels, LED projector headlights and integrated LED tail lights. Inside, synthetic leather seat upholstery covers all five seats, including the six-way power adjustable driver's seat, while there's a 12.3-inch centre touchscreen and a 12.3-inch driver's instrument cluster. Intelligent Voice Command – which begins with "Hello Chery" – is standard and operates through the six-speaker stereo, as does the wired Apple CarPlay and wireless Android Auto connectivity. Driver assist tech sees adaptive cruise control and lane-keep assist alongside the mandatory autonomous emergency braking (AEB) as well as front, front side and centre, driver knee and side curtain airbags. The Ultimate adds a powered panoramic sunroof, privacy glass, heated and ventilated front seats with driver memory, a 360-degree around view monitor and an eight-speaker Sony premium stereo. The Tiggo 7 Super Hybrid is covered by Chery's seven-year/unlimited kilometre warranty, which includes capped price servicing and roadside assistance. MORE: Everything Chery Tiggo 7 Content originally sourced from:

Sky News AU
2 hours ago
- Sky News AU
NSW Premier Chris Minns confirms talks to save Australia's biggest aluminium producer Tomago amid crippling power bills
The NSW government is in discussions to stave off the potential collapse of the nation's largest aluminium smelter as it struggles with crippling power bills and poor availability of renewable energy. Rio Tinto-owned Tomago, located north of Newcastle, is reportedly seeking billions of dollars in public funds to prevent collapse. The producer uses about 10 per cent of NSW's power supply and makes about 37 per cent of Australia's primary aluminium. Its collapse could lead to more than 1,000 people losing their jobs, while 5,000 indirect workers could suffer. NSW Premier Chris Minns on Thursday stressed Tomago was a 'big employer in NSW, it's a dynamic part of the state, the Hunter and manufacturing is a big part of its future'. 'It's difficult for me to speculate about what the next steps are,' Mr Minns told reporters. 'In order for us to have an effective intervention, we need to have commercial discussions with the owners and operators of (Tomago). That's what we're doing.' Tomago executives have reportedly asked the NSW and federal governments for assistance amid crippling power prices and as cost-effective and consistent renewable alternatives remain largely unavailable. Rio Tinto's chief executive Jakob Stausholm earlier this year flagged concerns about the producer's electricity costs where he warned power price contracts beyond 2028 would render Tomago unviable. The Premier acknowledged there remains 'challenges when it comes to big industries in manufacturing like aluminium and steel'. He cited the soaring energy costs which hurt Australian manufacturers, but also noted the Trump Administration's decision to hit foreign-made steel and aluminium with a 50 per cent tariff. 'Part of it is energy costs, there's no doubt about it, part of it is also rapid and dramatic changes to the global trading system, particularly when it comes to (the United States') decision to slap initially a 50 per cent then 10 per cent hit on inbound steel and aluminium,' Mr Minns said. 'It may well be Australian aluminium and Australian steel is used domestically, or used in other markets across south-east Asia, South America and other places. 'The problem is that if Chinese steel and Chinese aluminium move to a third country and are dumped on another market, even if it's not Australia, it affects our trading partners. 'It's a complicated web, it's probably not going to be solved overnight. But we recognise it's an important employer, and we are having discussions with the owners.' Tomago's struggle with power bills comes as the Albanese government has vowed to make the nation a 'renewable energy superpower' with an energy mix of 82 per cent renewables by 2030 and green energy driving local manufacturing. Labor is looking to boost this through production tax credits for leading Australian aluminium smelters, including Tomago, and give $2 billion back to help with the energy transition. A federal government source told the AFR it was involved in discussions with Tomago over the details of the tax credit design as it looks to alleviate the impacts of soaring power costs. The Centre for Independent Studies' senior policy analyst Zoe Hilton said the government's energy policy was crippling the aluminium sector. 'With power prices in Australia rising higher and higher, it simply doesn't make financial sense to run a smelter here,' Ms Hilton told 'Tomago's current predicament is a direct result of state and federal government plans to shift our grid to mostly intermittent energy sources.'


West Australian
2 hours ago
- West Australian
Trade tensions aren't stopping Chinese companies from pushing into the US
Chinese companies are so intent on global expansion that even the biggest stock offering to date on Shanghai's tech-heavy STAR board counts the US as one of its biggest markets, on par with China. Shenzhen-based camera company Insta360, a rival to GoPro, raised 1.938 billion yuan ($417 million) in a Shanghai listing Wednesday under the name Arashi Vision. Shares soared by 274 per cent, giving the company a market value of 71 billion yuan ($15.3 billion). The US, Europe and mainland China each accounted for just over 23 per cent of revenue last year, according to Insta360, whose 360-degree cameras officially started Apple Store sales in 2018. The company sells a variety of cameras — priced at several hundred dollars — coupled with video-editing software. Co-founder Max Richter said in an interview Tuesday that he expects US demand to remain strong and dismissed concerns about geopolitical risks. 'We are staying ahead just by investing into user-centric research and development, and monitoring market trends that ultimately meet the consumer['s] needs,' he said ahead of the STAR board listing. China launched the Shanghai STAR Market in July 2019 just months after Chinese President Xi Jinping announced plans for the board. The Nasdaq-style tech board was established to support high-growth tech companies while raising requirements for the investor base to limit speculative activity. In 2019, only 12 per cent of companies on the STAR board said at least half of their revenue came from outside China, according to CNBC analysis of data accessed via Wind Information. In 2024, with hundreds more companies listed, that share had climbed to more than 14 per cent, the data showed. 'We are just seeing the tip of the iceberg. More and more capable Chinese firms are going global,' said King Leung, global head of financial services, fintech and sustainability at InvestHK. Leung pointed to the growing global business of Chinese companies such as battery giant CATL, which listed in Hong Kong last month. 'There are a lot of more tier-two and tier-three companies that are equally capable,' he said. InvestHK is a Hong Kong government department that promotes investment in the region. It has organised trips to help connect mainland Chinese businesses with overseas opportunities, including one to the Middle East last month. Roborock, a robotic vacuum cleaner company also listed on the STAR board, announced this month it plans to list in Hong Kong. More than half of the company's revenue last year came from overseas markets. At the Consumer Electronics Show in Las Vegas this year, Roborock showed off a vacuum with a robotic arm for automatically removing obstacles while cleaning floors. The device was subsequently launched in the US for $US2600 ($4020). Other consumer-focused Chinese companies also remain unfazed by heightened tensions between China and the US. In November, Chinese home appliance company Hisense said it aimed to become the top seller of television sets in the US in two years. And last month, China-based Bc Babycare announced its official expansion into the US and touted its global supply chain as a way to offset tariff risks. Chinese companies have been pushing overseas in the last several years, partly because growth at home has slowed. Consumer demand has remained lackluster since the COVID-19 pandemic. But the expansion trend is now evolving into a third stage in which the businesses look to build international brands on their own with offices in different regions hiring local employees, said Charlie Chen, managing director and head of Asia research at China Renaissance Securities. He said that's a change from the earliest years when Chinese companies primarily manufactured products for foreign brands to sell, and a subsequent phase in which Chinese companies had joint ventures with foreign companies. Insta360 primarily manufactures out of Shenzhen, but has offices in Berlin, Tokyo and Los Angeles, Richter said. He said the Los Angeles office focuses on services and marketing — the company held its first big offline product launch in New York's Grand Central Terminal in April. Chen also expects the next phase of Chinese companies going global will sell different kinds of products. He pointed out that those that had gone global primarily sold home appliances and electronics, but are now likely to expand significantly into toys. Already, Beijing-based Pop Mart has become a global toy player, with its Labubu figurine series gaining popularity worldwide. Pop Mart's total sales, primarily domestic, were 4.49 billion yuan in 2021. In 2024, overseas sales alone surpassed that to hit 5.1 billion yuan, up 373 per cent from a year ago, while mainland China sales climbed to 7.97 billion yuan. 'It established another Pop Mart versus domestic sales in 2021,' said Chris Gao, head of China discretionary consumer at CLSA. The Hong Kong-listed retailer doesn't publicly share much about its global store expansion plans or existing locations, but an independent blogger compiled a list of at least 17 US store locations as of mid-May, most of which opened in the last two years. The toy company has been 'very good' at developing or acquiring the rights to characters, Gao said. She expects its global growth to continue as Pop Mart plans to open more stores worldwide, and as consumers turn more to such character-driven products during times of stress and macroeconomic uncertainty. CNBC