Birth of a State-Owned Carmaker

Chery Automobile was founded on 8 January 1997 as a state-owned enterprise by a group of officials from Wuhu city in Anhui province, eastern China. The driving force behind the company was Yin Tongyue, born in 1962 in a small village in Chaohu, Anhui. Yin had studied automotive manufacturing at Anhui Polytechnic University, graduated in 1984, and joined FAW Group (First Automotive Works) as a technician. After visiting major car-producing nations such as Germany and the United States, he worked his way up to workshop director at FAW before leading the creation of Chery.

The local Wuhu government established the company initially called Anhui Auto Parts Company with a registered capital of 1.75 billion RMB (~US$250 million) and imported a Ford production line for $25 million. Yin proposed developing a genuine Chinese car brand. The name chosen was Qirui (奇瑞), meaning “unique and auspicious” in Chinese; its English rendering, “CHERY,” was derived from the word “cheery” with one E removed symbolizing, per Chery’s official explanation, a refusal to be satisfied with the status quo.

On 18 December 1999, Chery produced its first car: the Chery Fengyun. Without a production licence, it could not initially be sold. In 2001, Wuhu partnered with SAIC Group, giving Chery a 20% stake and the licence to produce and sell cars. The Fengyun was launched at under 100,000 yuan and sold 28,000 units in its first year, generating 2 billion yuan in revenue.

Early Expansion (2001–2010): Going Global Before Going Premium

Chery’s early history was defined by two things: rapid product expansion at the budget end of the market, and an unusually early focus on exports. As early as 2001, coinciding with China’s entry into the World Trade Organization, Chery began exporting vehicles. By 2005, it had entered the Russian market, and by 2008, it was selling in over 80 countries.

During this period Chery relied on value-engineered vehicles, affordable family sedans, small hatchbacks, and early crossovers that prioritized price over refinement. The Tiggo family of SUVs, launched from 2005, proved particularly popular in emerging markets and would go on to become the backbone of the brand.

In March 2012, a landmark joint venture was announced: Chery and British luxury carmaker Jaguar Land Rover (JLR) agreed to invest an initial US$2.78 billion to establish Chery Jaguar Land Rover (CJLR), producing Jaguar and Land Rover vehicles in China. The plant was built in Changshu, near Shanghai. The first Chinese-made Range Rover Evoque rolled off the production line on 21 October 2014. This venture validated Chery’s engineering credentials internationally, even as the partnership later showed financial strain (JLR revealed in May 2025 that CJLR lost $18.7 million in fiscal year 2024, with production expected to wind down before end of 2026).

 The Yaoguang 2025 Strategy and the EV Pivot (2022–2024)

In 2022, Chery announced its “Yaoguang 2025” five-year strategy. This committed the company to investing 100 billion yuan (~US$14 billion) over five years to pivot toward New Energy Vehicles (NEVs), spanning battery electric vehicles (BEVs), plug-in hybrids (PHEVs), extended-range electrics (EREVs), and fuel cell vehicles (FCVs). Five core technology platforms were identified for development:

1. Mars Architecture: Modular vehicle platform supporting multiple powertrains
2. Kunpeng Powertrain Systems: Hybrid and electric propulsion, including the Kunpeng Super Hybrid CDM/CEM launched in April 2025 claiming over 1,400 km of combined range
3. Lingxi Smart Cockpit: Connected in-vehicle intelligence
4. Falcon Intelligent Driving: Advanced driver assistance and autonomous features
5. Galaxy Ecosystem: Digital and connectivity services

Chery accelerated its NEV strategy sharply in 2023, launching new models almost every two weeks from early 2024. It also joined Huawei’s HarmonyOS Smart Mobility alliance, co-creating the premium Luxeed brand (R7 SUV, targeting 300,000–400,000 RMB buyers) with Huawei’s promotional muscle.

Record-Breaking Growth (2024–2025)

Chery’s 2024 sales reached 2,603,900 vehicles, a 38.4% year-on-year increase the company’s best result to date. Of those, new energy vehicles surged 187% in the first eight months alone. In August 2024, Chery debuted on the Fortune Global 500 at position 385.

In 2025, Chery’s performance was even more remarkable:

• Total self-owned passenger vehicle sales: 2,631,381 units (+8% YoY)
• NEV sales: ~826,500 units (+72.5% YoY)
• Annual revenue: 300.29 billion yuan — the first time exceeding 300 billion, up 11.3%
• Net income: 19.02 billion yuan (+34.6% YoY)
• Exports: 1.2944 million vehicles (+33.2% YoY) — 23rd consecutive year as China’s top passenger car exporter
• Overseas revenue: 157.42 billion yuan (+56%), representing 52.4% of total income
• Fortune Global 500 ranking: 233rd (up 152 places, the fastest rise of any automaker)

On 25 September 2025, Chery completed a Hong Kong IPO raising approximately US$1.2 billion at HK$30.75 per share, valuing the company at nearly US$23 billion, one of Hong Kong’s largest IPOs of the year.

In April 2025, Chery announced the revival of its Rely brand as an electric pickup sub-brand. Cumulative exports surpassed 5 million vehicles, the first Chinese brand automaker to reach this milestone.

Destination: Europe

In April 2024, Chery signed a joint venture with Spain’s EV Motors / Ebro-EVMotors to produce vehicles at a former Nissan factory in Barcelona. From November 2024, Chery became the first Chinese automaker to manufacture complete vehicles locally in Europe, initially producing the hybrid Ebro S700 (based on the Chery Tiggo 7). Chery plans to launch three brands: Omoda, Jaecoo, and premium Exlantix in core European markets, with the first two already active as of 2024 and Exlantix following in 2025. European sales more than tripled in 2025, with Omoda becoming the fastest-growing car brand in Europe.

In October 2024, South Korean manufacturer KG Mobility (formerly SsangYong Motor) signed an agreement with Chery to co-develop electrified vehicles for global markets using Chery’s T2X platform.

Brand Portfolio (2026)

Chery operates nine active brands:

Omoda the Global Crossover Brand

Omoda was simultaneously introduced alongside Jaecoo in April 2023 at an international convention in Wuhu, Anhui, though it had been selling vehicles in Russia under the Omoda name since 2022. Positioned as a stylish, technology-forward crossover brand targeting younger buyers, Omoda’s tagline is “The World’s Leading Crossover Brand.” By 2025, Omoda and Jaecoo had collectively expanded into 64 markets worldwide and achieved cumulative sales of 1 million units prompting the launch of the Omoda 4 in April 2026 with a stated annual sales target of one million units per year by 2027.

Omoda Model Lineup

Omoda 5 / C5 (Petrol & Hybrid)

The Omoda 5 (called C5 in some markets) is Chery’s volume export model and the car that launched the brand in the UK (August 2023), Australia (March 2023), New Zealand, and many other markets. It rides on Chery’s modular T1X platform, with a 2,630mm wheelbase. Exterior dimensions approximate the Nissan Qashqai and VW T-Roc.

Powertrains

Key Specs (C5):

• Length: ~4,490mm
• Width: ~1,870mm
• Height: ~1,620mm
• Trunk/Boot: 380 litres
• Fuel economy (petrol): ~30–34 mpg real-world (poor for class)
• Fuel economy (hybrid): ~50 mpg (more competitive)
• Euro NCAP: 5 stars
• Warranty: 7 years / 100,000 miles

Verdict vs Rivals:

• Priced below the Nissan Qashqai, Kia Sportage, and VW T-Roc but offers similar or superior standard equipment.
• The original petrol engine was noisy under load and the DCT gearbox clunky. The 2026 SHS-H hybrid is significantly smoother and more refined, described as comparable to Honda’s e:HEV system though still behind the Qashqai e-Power.
• Trunk/Boot space at 380 litres is smaller than the Citroën C5 Aircross (580L) and MG HS (507L).
• Interior quality has improved with a redesigned cabin shared with the E5, featuring two 12.25-inch screens.
• Fuel economy on the petrol is a notable weak point with CO₂ of ~170g/km.

Omoda E5 (Battery Electric)

Powertrain & Specs:

The electric sibling of the C5, the E5 uses the same body but with a smooth, grille-less front end. It launched in Indonesia first in February 2024, followed by the UK, Australia, Malaysia, Singapore, and other markets through 2024. A revised 2025/2026 model introduced a larger battery and standard heat pump, extending range to 267 miles (WLTP).

Verdict vs Rivals:

• The E5 competes against the Hyundai Kona Electric, Volvo EX30, Smart #1, Kia EV3, and Skoda Enyaq.
• Its 80 kW DC fast charging speed is a significant weakness compared to rivals; the Kona Electric and EX30 can charge much faster.
• Range is comparable to entry-level versions of competitors.
• The ride is firm, tyre noise is noticeable at speed, and the steering lacks feel at higher speeds.
• It is priced below most rivals and offers a generous 7-year warranty.
• The 2025 update with heat pump improves cold-weather efficiency. Not yet available in the US market.