Latest news with #CheryGroup
IOL News
22-04-2025
- Automotive
- IOL News
Chery debuts advanced robot with human-like movements, Deepseek intelligence
Presented at the Chery Group's Intelligent Strategy Launch held in Wuhu, China, recently, AiMOGA the robot can walk at a humanoid speed of one metre per second. It can also make 41 independent movements, otherwise referred to as 'degrees of freedom', with 12 movements in the highly dexterous hand alone. AiMOGA is equipped with a dual-core intelligent computing 'brain', which makes use of Deepseek artificial intelligence to achieve multimodal perception and a high degree of general knowledge. The robot can interact in natural dialogue in 10 languages, with an accuracy rate of up to 95%, Chery says. It can also master industry-specific expertise in just one hour, allowing it to cater to personalised needs across many different scenarios.
Yahoo
21-03-2025
- Automotive
- Yahoo
ASEAN 2025 light vehicle sales outlook unchanged at 3.19 million units
After ASEAN Light Vehicle (LV) sales dropped for two consecutive years in 2023 (-1% year-on-year (YoY) and 2024 (-5% YoY), the downward trend continued in January 2025 with a decline of 8% YoY, due to weak performances in the region's three largest markets: -11% YoY in Indonesia, -10% YoY in Thailand, and -24% YoY in Malaysia. In contrast, LV volumes in Vietnam and the Philippines increased by 22% YoY and 11% YoY, respectively. In Vietnam, the outstanding sales performance was due to the low base in January 2024 and strong economic growth. GDP growth reached 7.6% YoY in Q4 and 7.1% for full-year 2024, driven by exports, manufacturing, and foreign investment inflows. The tourism sector rebounded strongly, too, with the number of foreign visitors returning to pre-pandemic levels. On the domestic front, the property sector is continuing to recover from the bursting of the bubble in 2023. A key development for the Vietnamese market is that the government enacted Decree No. 51/2025/ND-CP on March 1, 2025, which stipulates that it will continue to waive registration fees for Battery Electric Vehicles (BEVs) until February 28, 2027. This initiative is intended to motivate more consumers to consider purchasing Electric Vehicles (EVs) and is likely to be beneficial to VinFast, a Vietnamese EV manufacturer. It is noteworthy that in Vietnam, the registration fee represents a significant portion of the cost when buying a vehicle, with the percentage varying by location and vehicle type. For the Philippines, the double-digit growth was supported by affordable Chinese models and strong remittance inflows from overseas Filipino workers (OFW). Based on media reports, remittance inflows increased by 3% YoY and hit an all-time high of $34.5 billion in 2024. Note that remittance inflows from OFW accounted for 8.3% of the Philippines' GDP in 2023. Despite these developments, no significant changes have been made to the country's sales outlook. In addition, both positive and negative factors continue to play a role in the Philippines' LV market. On the positive side, the government is preparing a new automotive policy called Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE), the full details of which will be officially announced in March or April. On the negative side, the economy and LV demand could be hurt by political instability after former President Duterte was arrested for crimes against humanity during his drug war period. Looking ahead to February, our recent data indicated that Indonesian and Malaysian sales increased by 3% YoY and 2% YoY, respectively. The improvement in Indonesia was mainly supported by the 2025 Indonesia International Motor Show event from February 13-23. For the Malaysian market, Perodua and Chery Group were the main growth drivers, thanks to solid demand for the Myvi and Bezza from Perodua, and the newly launched Jaecoo J7 from Chery Group. In contrast, Thailand's LV market remained weak and declined by 10% YoY in February, as tightened auto loans and high household debt continued to be key obstacles for new vehicle sales. Due to weak domestic sales and a cloudy global situation, there was speculation that carmakers and component suppliers would lay off staff to lower costs and maintain margins. In order to support the local automotive industry, proposals to stimulate auto sales and production have been submitted, such as the scrappage of old vehicles program and increasing the credit guarantee cap for auto loans, particularly for locally-built Pickup Trucks. Currently, the state-owned Thai Credit Guarantee Corporation (TCG) caps loan guarantees at 30% of the vehicle price. The increase in credit guarantees is expected to lead the financial sector to relax auto loan approvals. It is worth noting that many Pickup buyers are self-employed and/or in the informal business sector, facing difficulties obtaining financing approval. We will keep an eye the development of these proposals. Overall, the ASEAN 2025 sales outlook remains unchanged at 3.19 mn units: 835k units for Indonesia, 761k units for Malaysia, 593k units for Thailand, 500k units for the Philippines, and 499k units for Vietnam. However, the forecast carries downside risks due to global uncertainty, particularly the protectionist trade policies of US President Trump. This article was first published on GlobalData's dedicated research platform, the . "ASEAN 2025 light vehicle sales outlook unchanged at 3.19 million units – GlobalData" 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. Sign in to access your portfolio
Biz Bahrain
28-01-2025
- Automotive
- Biz Bahrain
Chery sets new global sales record in 2024 with 40% growth
Chery Group announced that its global sales surpassed 2.6 million in 2024, setting a new record for the Chinese automotive brand with nearly 40% growth. This is in addition to several other historic breakthroughs it achieved last year. The company's annual revenue reached 480 billion, up over 50%, with a 150 billion increase. Exports reached 1,144,588 units, up 21.4%, which helped it maintain its position as the top Chinese passenger car exporter for 22 consecutive years. NEV sales hit 583,569 units, up 232.7%, the fastest growth among major automakers. In December, PHEV sales surpassed 100,000 units, up 31.9% month-on-month. Chery ended 2024 with a record 298,505 vehicles sold in December, up 38.4% year-on-year. The full-year sales reached 2,603,916 vehicles, marking a 38.4% increase, exceeding the company's annual target, and surpassing the industry's growth rate by 10-20 percentage points. Also in 2024, Chery reached several other milestones. In late November, Chery's first joint venture plant in Europe, a collaboration with Spain's EV MOTORS, marked the production of its first vehicle, helping the legendary Spanish brand EBRO make a successful comeback. The milestone of one million TIGGO 2 units produced signifies widespread global recognition and trust in this model, which represents Chery's quality. At the Global User Ecosystem Conference held in October 2024, Chery celebrated the joint production of its 15 millionth vehicle across five plants worldwide. Additionally, the successful export of the one-millionth TIGGO 7 marked an important milestone in Chery's global strategy. In markets like Brazil, Egypt, and Indonesia, Chery won multiple awards and led in sales. The company also achieved key milestones, including being listed on the Fortune China ESG Impact Ranking, remaining the top Chinese automotive brand in the Globalization Top 50, and making its debut in the Fortune Global 500. Chery, part of Motorcity's automotive lineup, is a leading brand in Bahrain and has garnered a reputation for innovative designs and commitment to quality, earning the trust of consumers in the Kingdom. Going forward, Chery has placed its focus on transforming global green mobility through innovative new energy technologies, particularly in the PHEV sector. The company aims to prioritize the safety, range, and intelligence of its PHEV products, offering more competitive eco-friendly mobility solutions to global consumers.
