Latest news with #CheryAutomobile
Yahoo
6 days ago
- Automotive
- Yahoo
Chery begins Tiggo Cross production in Malaysia
Chery Automobile launched production of its Tiggo Cross compact SUV in Malaysia in early August, as the Chinese state-owned automaker continued its overseas expansion. The model was unveiled in the country in early July, targeting middle-income buyers. The Tiggo Cross is now produced at Sime Motors' Inokom plant in Kulim, in Malaysia's Kedah state, alongside the Tiggo 8 and Omoda 5 models. Chery also launched its Jaecoo J8 flagship SUV in Malaysia in July, which is assembled at the company's own plant in Shah Alam. The Tiggo Cross is available as a 1.5L hybrid model, with a range of up to 1,000 km on a full tank and a fully charged battery, with prices starting at MYR 99,800 (US$ 23,600). Prices of the turbo-charged 1.5L petrol model start at MYR 88,000 (US$ 20,800). Michael Chew, Chery Malaysia vice president, told reporters: "The Tiggo Cross is our smallest and most affordable SUV yet - a modern crossover that speaks to a new generation of drivers who want efficiency, style, and smart technology in one exciting package. We are proud to assemble it right here in Malaysia, leveraging local capabilities and strategic partnerships that ensure we deliver global quality with local relevance." "Chery begins Tiggo Cross production in Malaysia" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
01-08-2025
- Automotive
- Bloomberg
Pakistani Tycoon Joins With China's Chery to Localize EV Output
Pakistani business magnate Mian Mohammad Mansha is setting up a factory to build electric-powered vehicles in partnership with one of China's largest car exporters, Chery Automobile Co., according to a top executive at his company. NextGen Auto Pvt., a unit of Pakistan's Nishat Group, plans to debut five cars simultaneously under Chery's Omoda and Jaecoo brands at a launch event on Friday, Muhammad Aqib Zulfiqar, the group's chief financial officer, said in an interview. The conglomerate has earmarked about $100 million for the automotive manufacturing and marketing operations, with local car assembling set to start in October, he said.
Yahoo
24-07-2025
- Automotive
- Yahoo
Chery to support India's JSW to launch new EV brand by 2027
China's Chery Automobile has agreed to supply technology and components to JSW Group to facilitate the launch of a new-energy vehicle brand in India by 2027, reported Bloomberg, citing people familiar with the matter. Under the terms of the agreement, Chery is said to receive a one-time technology transfer payment fee and ongoing royalties from JSW, owned by Sajjan Jindal. The partnership does not include any equity arrangement, adhering to India's investment restrictions on Chinese firms in strategic sectors. This deal represents the first significant passenger vehicle technology transfer from China to India since the 2020 border conflicts, which led to heightened bilateral tensions and investment barriers. Chery and JSW have contested the details reported by Bloomberg News, stating that the agreement primarily concerns component supply. Chery's expertise in electric cars, hybrids, and automotive technologies like electric powertrains, hybrid systems, and intelligent cockpit technology is crucial for JSW's goal to localise and scale production swiftly. JSW is currently assessing several Chery models, especially the iCar sport utility range, to adapt for the Indian market. The new EV brand is said to be entirely owned by JSW and will operate separately from its current MG Motor India joint venture (JV) with China's SAIC Motor, which will continue to sell vehicles under the MG brand in India. The royalty payments from JSW will contribute to Chery's revenue and support its global expansion plans, which include a $1bn factory in Turkey. The JSW is also reportedly constructing facilities in Maharashtra state in India to produce its own brand of passenger EVs from 2027 and plans to introduce electric trucks and buses as early as next year. Furthermore, JSW aims to increase its stake in the MG Motor JV by purchasing additional SAIC's stake in the entity, as disclosed by JSW MG Motor India director Parth Jindal in a local Indian newspaper earlier this month. In May, Bloomberg News reported that Chery is also considering a Hong Kong initial public offering to raise around $1.5bn, citing those familiar with the matter. Earlier this month, Chery confirmed its entry into the UK new car market this summer under its own brand. "Chery to support India's JSW to launch new EV brand by 2027 – report" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
24-07-2025
- Automotive
- Business Standard
China's Chery to supply EV tech for JSW's new auto brand, to debut by 2027
The JSW Group is gearing up to enter the electric vehicle (EV) market with a new brand, aiming for a 2027 launch. This venture will be supported by China's Chery Automobile, which will provide crucial EV components and technologies, according to a report by The Economic Times. JSW Group will pay Chery a one-time technology transfer fee along with regular royalties. The agreement does not involve any equity participation, which aligns with India's curbs on Chinese investments in strategic sectors, the news report mentioned. This would be the first major transfer of passenger vehicle technology from a Chinese automaker to an Indian firm since the 2020 border dispute strained ties. Chery confirmed that it will supply parts of models to JSW, which will produce and sell them under its own brand. JSW said that the core technology will be developed internally with the help of firms like KPIT Technologies and LTIMindtree, The Economic Times reported. JSW to build commercial EVs The upcoming JSW EV brand will be fully-owned by the company and operate independently of its current joint venture with China's SAIC Motor, which sells cars under the MG brand. JSW is also setting up manufacturing facilities in Maharashtra to roll out its new EV lineup from 2027, and commercial electric trucks and buses as early as 2026. EV supply chain still relies on China India's EV ecosystem continues to remain dependent on Chinese technologies, especially for components like lithium-ion cells and rare earth magnets. Indian companies like Tata AutoComp and Amara Raja have ongoing agreements with Chinese suppliers such as SVOLT and Gotion. Chery Automobile, which has a strong global presence and exports to over 100 countries, is exploring a $1.5 billion IPO in Hong Kong. Its earnings from the JSW partnership may help fund global expansion, including a $1 billion factory in Turkey, the news report said. Rare earth shortage not yet a concern Earlier this month, at the launch of MG Motor's premium showroom in Thane, JSW MG Motor MD Anurag Mehrotra said the ongoing shortage of rare earth materials is not affecting current production but may pose future risks. 'We're watching the situation closely,' he said, adding that the industry is working with the government to address the issue. Meanwhile, JSW MG Motor continues to expand its premium vehicle portfolio in India, displaying models like the MG Cyberster and M9 limousine at its new MG Select outlets.
Bloomberg
24-07-2025
- Automotive
- Bloomberg
China's Chery to Supply Tech to Help India's JSW Launch Own EVs
China's Chery Automobile Co. will supply technology and components to billionaire Sajjan Jindal's JSW Group to help launch a new-energy vehicle brand in India by 2027, according to people familiar with the matter. Under an agreement between the two companies, JSW will pay Chery a one-off technology transfer fee and recurring royalties, said the people, who asked not to be identified because the information is private. There is no equity arrangement, in line with India's restrictions on Chinese investment in strategic sectors.
