China's Jetour to launch European car sales in third quarter

By Nick Carey

SHANGHAI (Reuters) -Chinese sport-utility vehicle maker Jetour plans to launch in some European markets in the third quarter and aims to sell cars across much of the continent by 2027, an executive said on Wednesday.

The automaker currently makes combustion-engine and plug-in hybrid models, which would not be subject to European Union tariffs on Chinese-made fully electric cars.

When asked if that had influenced Jetour's decision to sell in Europe, Ke said if successful the brand will look into making cars in Europe.

"I don't think it's realistic to always import cars from China," Ke said.

The Chery unit sold around 560,000 cars last year, and Jetour's brand president Ke Chuandeng said sales should hit 800,000 vehicles this year.

Ke said Latin America, the Middle East, Russia and Africa accounted for around 35% of its sales, but overseas sales should hit 50% of the total in a few years.

"We believe that in three to five years, the international market will be higher, or at least equal to, our sales in the domestic market," Ke told Reuters on the sidelines of the Shanghai auto show.

Jetour makes a series of urban and off-road SUVs that run from around $10,000 to more than $50,000, and a pickup truck model. The company is launching its first full-electric model, the T0, by the end of 2026.

In Europe, Jetour will join a growing crowd of Chinese automakers jostling for share in a competitive market, including BYD, Xpeng and Nio. Changan, another major Chinese automaker, launched sales in Europe last month.

Two other Chery brands, Omoda and Jaecoo, have already launched sales in Europe.

(Reporting by Nick Carey; Editing by Jamie Freed and Jan Harvey)