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Chery Eyes Doubled EV Exports to Canada
24 Apr
Summary
- Chery anticipates doubling new energy vehicle exports this year.
- The automaker is establishing a sales network in Canada.
- Mexico's tariffs pose a challenge, prompting Chery's strategy review.
Chery anticipates a significant surge in its new energy vehicle exports, expecting them to double within the current year. These electrified models, including electric cars and plug-in hybrids, are projected to constitute over half of Chery's total international shipments, marking a milestone for the company.
To facilitate this growth, Chery is making a concerted effort to establish a presence in the Canadian market. Representatives from Canadian dealerships were recently invited to the Beijing auto show and plan to visit Chery's headquarters. This move aligns with a recent trade agreement between China and Canada that allows for increased annual imports of electric vehicles.
However, Chery faces hurdles in other key markets. Chairman Yin Tongyue highlighted that Mexico's recently implemented 50% tariff on Chinese-made goods, including cars, is making the market "difficult." In response, Chery is evaluating various strategic options to maintain its market share in Mexico, such as acquiring existing production facilities, establishing new ones, or forming joint ventures with local partners.
