Import of Chery from USA

Chery Automobile Co. Ltd., trading as Chery, is a Chinese automobile manufacturer. Founded in 1997, it is currently the third largest automobile manufacturer group in China, with 2,806,393 vehicles sold in 2025. The company is headquartered in Wuhu, Anhui. Chery was founded in 1997 by government officials of Wuhu, who appointed Yin Tongyue, the current chairman, as the company's first technical director. Chery launched its first car called the Fengyun in 1999, a copy of the SEAT Toledo Mk1 (itself based on the Volkswagen Golf Mk 2 chassis) using an engine production line from Ford Dagenham. During its early years, Chery used technologies from other manufacturers; some were licensed and others were acquired by reverse engineering. This led to a lawsuit in 2003 filed by General Motors alleging that Chery had copied the design of one of its cars. Chery has since developed and improved its technologies. Since 2006, Chery has produced its engines branded as ACTECO, which it also sells to other manufacturers. Until 2025, the company used to be a subsidiary of Chery Holding Group Co., Ltd and under the ownership of the Wuhu municipal government. After its IPO in 2025, it was spun-off from the Chery Holding and currently co-owned by the government of Anhui and Wuhu, the employees and several private companies. Since Chery Automobile went IPO, Chery has begun to market itself as "Chery Group", incorporating the Chery Holding's commercial vehicles business. In reality, however, "Chery Group" is not an actual legal entity but merely a marketing concept. The company started exporting cars from China in 2001, ahead of other Chinese manufacturers and has been the top exporter of Chinese brand passenger vehicles since 2003. The company exported 269,154 vehicles in 2021, 451,337 vehicles in 2022, and 937,148 vehicles in 2023, accounting for 52 percent of its overall sales. Chery invests more heavily in overseas markets than other Chinese manufacturers, and many of its vehicles are assembled outside China using complete or semi-complete knock-down kits. In 2024, Chery Holding Group made its debut on the Fortune Global 500 list, securing the 385th position with a revenue of $39.0917 billion. Chery adopts a multi-brand strategy by establishing many car brands for different purposes. As of 2024, the company has nine active brands, including the main Chery brand (with Fulwin and Chery New Energy sub-brands for plug-in hybrid and electric cars respectively), Exeed for premium vehicles, Jetour that focuses on SUVs (with Zongheng sub-brand for luxury off-road SUVs respectively), iCar/iCaur for electric SUVs, Luxeed as a collaborative electric car brand with Huawei, Karry for commercial vehicles, and Omoda, Jaecoo, Lepas, Exlantix, and Aiqar for export markets. The company also operates a joint venture with JLR since 2012 called Chery Jaguar Land Rover to produce Jaguar and Land Rover vehicles in China. On 25 September 2025, Chery raised about US$1.2 billion in its Hong Kong IPO at HK$30.75 per share, valuing the company at nearly US$23 billion, marking it as one of Hong Kong's largest IPOs of the year.