Latest news with #CheryAutomobile
Business Upturn
6 days ago
- Automotive
- Business Upturn
Alliance of Four Major Qatari Companies Signs Strategic Agreement with Chinese Automotive Giant Chery
Doha, Qatar: A powerful alliance of four leading Qatari companies has signed a strategic agreement with Chery Automobile Co., Ltd., one of China's largest and most innovative automotive manufacturers, to expand Chery's presence in the global automotive market through a new Qatari-led platform. This press release features multimedia. View the full release here: Alliance of Four Major Qatari Companies Signs Strategic Agreement with Chinese Automotive Giant Chery (Photo: AETOSWire) The alliance includes: Power International Holding Dishley Holding Elite Motors Limited Elaf Motors Chery Automobile was represented at the signing by Mr. Tim Zhang, General Manager – Middle East. The agreement was signed in the presence of senior leadership from both sides. Mr. Mohamad Al Khayyat, representative of the Qatari alliance, stated: 'This alliance represents one of the most important partnerships in the regional automotive sector. Through our collaboration with Chery, we are establishing an advanced business model built on effective partnership.' Mr. Tim Zhang, Chery Automobile General Manager – Middle East, commented: 'We are proud to join forces with this strong Qatari alliance. This agreement is not only a gateway to a promising market but also a platform to drive innovation and deliver high-quality mobility solutions to the region. We see Qatar as an ideal partner for Chery's next phase of global growth.' Mr. Abdulghani Abdullah Abdulghani, Elite Motors, added: 'We see this partnership as a strategic opportunity to create real impact in the automotive sector. By uniting local expertise with a global brand like Chery, Mr. Isam El Bashier, Elaf Auto Managing Director, affirmed: 'This agreement marks a pivotal step for our alliance and the region's automotive future. By partnering with Chery, we are combining global innovation with local strength to deliver a new standard of mobility. This collaboration sets the stage for long-term impact, industry transformation, and sustained excellence.' The Qatari alliance representatives emphasized that the agreement serves as a launchpad for a strategic venture poised to reshape the automotive industry in the region. For more information, please visit: *Distributed by: AETOSWire View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Zawya
6 days ago
- Automotive
- Zawya
Alliance of four major Qatari companies signs strategic agreement with Chinese automotive giant Chery
Doha, Qatar: A powerful alliance of four leading Qatari companies has signed a strategic agreement with Chery Automobile Co., Ltd., one of China's largest and most innovative automotive manufacturers, to expand Chery's presence in the global automotive market through a new Qatari-led platform. The alliance includes: Power International Holding, Dishley Holding, Elite Motors Limited, Elaf Motors, Chery Automobile was represented at the signing by Mr. Tim Zhang, General Manager – Middle East. The agreement was signed in the presence of senior leadership from both sides. Mr. Mohamad Al Khayyat, representative of the Qatari alliance, stated: "This alliance represents one of the most important partnerships in the regional automotive sector. Through our collaboration with Chery, we are establishing an advanced business model built on effective partnership." Mr. Tim Zhang, Chery Automobile General Manager – Middle East, commented: "We are proud to join forces with this strong Qatari alliance. This agreement is not only a gateway to a promising market but also a platform to drive innovation and deliver high-quality mobility solutions to the region. We see Qatar as an ideal partner for Chery's next phase of global growth." Mr. Abdulghani Abdullah Abdulghani, Elite Motors, added: "We see this partnership as a strategic opportunity to create real impact in the automotive sector. By uniting local expertise with a global brand like Chery, Mr. Isam El Bashier, Elaf Auto Managing Director, affirmed: 'This agreement marks a pivotal step for our alliance and the region's automotive future. By partnering with Chery, we are combining global innovation with local strength to deliver a new standard of mobility. This collaboration sets the stage for long-term impact, industry transformation, and sustained excellence.' The Qatari alliance representatives emphasized that the agreement serves as a launchpad for a strategic venture poised to reshape the automotive industry in the region. For more information, please visit: *Distributed by: AETOSWire Contacts: Aladdin Idilbi
Qatar Tribune
27-05-2025
- Automotive
- Qatar Tribune
Alliance of four major Qatari companies signs strategic agreement with Chinese automotive giant Chery
DOHA: A powerful alliance of four leading Qatari companies has signed a strategic agreement with Chery Automobile Co, Ltd, one of China's largest and most innovative automotive manufacturers, to expand Chery's presence in the global automotive market through a new Qatari-led platform. The alliance includes: * Power International Holding, * Dishley Holding, * Elite Motors Limited, * Elaf Motors, Chery Automobile was represented at the signing by Tim Zhang, General Manager – Middle East. The agreement was signed in the presence of senior leadership from both sides. Mohamad Al Khayyat, representative of the Qatari alliance, stated: "This alliance represents one of the most important partnerships in the regional automotive sector. Through our collaboration with Chery, we are establishing an advanced business model built on effective partnership." Tim Zhang, Chery Automobile General Manager – Middle East, commented: "We are proud to join forces with this strong Qatari alliance. This agreement is not only a gateway to a promising market but also a platform to drive innovation and deliver high-quality mobility solutions to the region. We see Qatar as an ideal partner for Chery's next phase of global growth." Abdulghani Abdullah Abdulghani, Elite Motors, added: "We see this partnership as a strategic opportunity to create real impact in the automotive sector by uniting local expertise with a global brand like Chery." Isam El Bashier, Elaf Auto Managing Director, affirmed: 'This agreement marks a pivotal step for our alliance and the region's automotive future. By partnering with Chery, we are combining global innovation with local strength to deliver a new standard of mobility. This collaboration sets the stage for long-term impact, industry transformation, and sustained excellence.' The Qatari alliance representatives emphasized that the agreement serves as a launchpad for a strategic venture poised to reshape the automotive industry in the region.
Mail & Guardian
24-05-2025
- Automotive
- Mail & Guardian
The Chery Tiggo Cross is basically a Tiggo 4 Pro — but on steroids
The Chery Tiggo Cross. When Chery released the Tiggo Cross in 2024, I was slightly confused by where exactly the vehicle would fit into its lineup. Overseas, the car replaced the Tiggo 4 Pro, but in South Africa, the Tiggo 4 Pro is still being sold alongside the Tiggo Cross offering a more affordable option to consumers. The Tiggo 4 Pro is also Chery's best-selling vehicle in the country and is the vehicle that has hoisted the brand into top sales figures since its return to South Africa in 2021. In terms of pricing, the Tiggo Cross sits perfectly in the middle of the Tiggo 4 Pro and Tiggo 7 Pro. It comes in a Comfort and Elite spec, with the former priced at R399 900, and the latter at R449 900. The Tiggo 4 Pro starts at R279 900 and goes all the way up to R382 900, depending on which trim you prefer, while the Tiggo 7 Pro starts at R442 900. After looking at pricing, I actually appreciated that Chery kept the Tiggo 4 Pro active in the South African market and brought the Tiggo Cross in as a more premium option in that segment. There's no doubt that Chery has done a great job of offering premium-looking vehicles at affordable prices since its entry into the country and the Tiggo Cross is another example of that. The exterior starts off with the signature glossy black diamond-cut grille for which Chery has become known and it is seamlessly integrated with vertical daytime running lights. The LED headlights on either side of the grille complete the front of the vehicle, which is similar to the Tiggo 7 Pro. In fact, looking at the vehicle from the front, you could be forgiven for thinking it was a Tiggo 7 Pro. I feel that manufacturers often put a lot of effort into the front of a vehicle to make it look mean and sleek but often forget that the back deserves love too. It was one of the issues I had with the Tiggo 4 Pro. However, Chery has striven to make the back of the TIggo Cross attractive as well. It has moved away from the large taillights on the Tiggo 4 Pro and adopted a more stylish-looking light bar across the back of the vehicle. The Chery group said the exterior design of the vehicle was inspired by the majestic tiger and the lightbar across the back has subtle stripes resembling those of the jungle cat. The Tiggo Cross Comfort and Elite both come equipped with standard automatic LED headlights; body-coloured door mirrors and handles; an athletic tailgate spoiler and chrome-trimmed exhaust finishers. The Elite ups the ante with sporty red brake calipers, highlighting its status as the range topper. Overall, Chery has taken the shortcomings of the Tiggo 4 Pro and turned it into a pleasing product — on the outside at least. The interior The interior was never going to disappoint. By now, South Africans are used to getting handsome, neat interiors that feel plush from Chinese manufacturers. The Tiggo Cross sports lovely leather bucket seats in the front, a soft-touch dashboard that is very neatly done and a multi-functional leather steering wheel. On top of that, the cabin is decked out with a dual-screen set-up with one serving as an instrument cluster and the other as the infotainment system. The leather on the door panels, with a stylish chrome finish, are exactly what you get in the Tiggo 7 Pro as well. The centre console, climate-control panel and gear shift are also taken directly from the 7 Pro. The interior gives off a terrific feeling for the driver and passengers. Besides being comfortable, well put together and aesthetically pleasing, it also offers a great amount of technology to keep you safe and entertained while driving. The drive The Chinese compact SUVs love two things: great technology and 1.5-litre turbocharged engines. The Chery Tiggo Cross is no different. It also has a 1.5-litre turbocharged engine that delivers 108kW of power and 210Nm of torque. While the Tiggo 4 Pro and Tiggo 7 Pro have the same engines, when they came into the country in 2021, the engine was paired to a CVT gearbox that made consumers wary of the products. In the Tiggo Cross, Chery has paired that same engine to a six-speed, dual-clutch transmission (DCT) gearbox, which enhances the driving experience. The continuously variable transmissions sometimes experienced annoying long drags but the DCT provides a more seamless experience. With this being said, I enjoyed the drive in the Tiggo Cross. The speed is nothing to shout about but it is more than sufficient. The vehicle doesn't struggle on inclines or when overtaking on the open road. One of the frustrating things about Chinese SUVs, however, has been that the tested fuel consumption never comes close to the manufacturer's claims. The Tiggo Cross does much better in this regard as well. Chery claims 7 litres/100km. I was averaging 7.6 litres/100km and I did over 500km of range in this vehicle, both on the open road and in town. With most aspects of this vehicle, there's not much to complain about. Safety Chery doesn't compromise on safety. The Tiggo Cross comes standard with six airbags with the elite model getting an additional airbag between the seats. It also comes with an array of safety features like traction control, emergency brake assist, electronic stability control, hill assist, auto-hold function, tyre pressure monitoring and speed limit reminder. The Elite variant gets advanced driver-assistance systems, such as adaptive cruise control, automatic emergency braking, blind-spot detection, front collision warning, lane departure earning and intelligent high-beam control. The Comfort variant comes with a reverse camera and front and rear parking sensors, while the Elite gets a 360-degree camera and intelligent high-beam control. Verdict The Tiggo Cross is sure to contribute to Chery's upward trajectory in South Africa. Once again, it is bang for buck. It's exactly why the brand has been doing so well since its return. The Tiggo Cross comfort comes in at under R400 000, but you would think that you were sitting in a car that is far more expensive than that with everything you get. At first, I was not sure about its placement in the market but now I see that Chery has combined the best elements of the Tiggo 7 Pro with the compactness of the Tiggo 4 Pro to essentially produce a Tiggo 4 Pro on steroids. Ultimately, I would call it one of the best contenders in its price range alongside the GAC Emzoom.
Business Times
06-05-2025
- Automotive
- Business Times
Wall Street banks said to steer clear of Chery's US$1.5 billion Hong Kong IPO
[HONG KONG] One of this year's biggest listings is coming together in Hong Kong without the involvement of Wall Street banks. Chery Automobile's planned Hong Kong initial public offering (IPO), which sources familiar say could raise about US$1.5 billion, is being led by an all-Chinese bank roster after others decided not to participate. JPMorgan Chase is no longer on the deal after being chosen by Chery in late 2024 to work on the offering, the sources said. JPMorgan dropped off the deal before signing a formal mandate, the sources said. Some other international banks have also shied away from working on the transaction, according to the sources. Major share sales typically include global banks in the capacity of adviser, underwriter or similar. For example, Contemporary Amperex Technology Co Limited's potential US$5 billion listing – one of Hong Kong's most anticipated deals – has Bank of America and JPMorgan on the lead arranging side. Chery, one of China's top car exporters and a rarity among them for not being listed, is working with the Hong Kong units of China International Capital Corporation, Huatai Securities and GF Securities as joint sponsors on its listing. China banks Global investment banks face competition from Chinese rivals often offering cheaper advisory, financing and other services. In another recent case, ride-hailing app CaoCao just submitted IPO documents showing China's Huatai Financial Holdings, ABCI Capital and GF Capital as joint sponsors. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Some US banks have also been more selective on deals to protect profits and avoid links with companies that may have exposure to markets sanctioned by the US. Chery is one of the top-selling car brands in Russia, filling a void left by global manufacturers after the invasion of Ukraine. Chery did not respond to requests for comment on the IPO plans. JPMorgan declined to comment. About US$2.7 billion has been raised via IPOs and second listings in Hong Kong in 2025, up roughly 170 per cent from a year earlier, data compiled by Bloomberg show. Bubble-tea chain Mixue Group raised US$511 million in early March. Its shares have surged nearly 150 per cent since then. Other equity capital market transactions this year include US$11 billion raised by Xiaomi and BYD via stock offerings. Chery auto Chery is a key asset for Chery Holding Group, which is also involved in financial services and real estate. The company has said it will scale back operations in Russia to mitigate sanctions risks. It also said in its prospectus that sales with sanctioned Cuba and Iran had ceased as at the end of last year. Deliberations for the Hong Kong IPO are ongoing and details such as size and timing could change, the sources said, asking not to be identified as discussing a private matter. As part of its expansion overseas, Chery plans to set up a US$1 billion electric vehicle factory in Turkey with a local partner, aiming for an annual capacity of 200,000 vehicles, Turkey's Industry Ministry announced in March. Founded in 1997, Chery sells cars under the brands Chery, Jetour, Exeed, iCar and Luxeed. BLOOMBERG
