China's Chery expects overseas-manufactured vehicles to top 50% of exports, exec says

Chery Anticipates Surge in Overseas-Made Vehicle Exports to 70% by 2030

Chery's Overseas Manufacturing and Export Strategy

WUHU, China, Oct 23 (Reuters) - Chery expects more than half of the vehicles it exports to be made overseas by the end of this year, with the share rising to 60% next year and 70% by 2030, Executive Vice President Zhang Guibing said on Friday at an event.

Current Export Figures and Projections

• Zhang said overseas manufactured vehicles account for about 48% of its export volume this year

Future Growth Targets

• Chery expects the share to rise to 60% next year and 70% by 2030

Local Manufacturing Initiatives

• Zhang said the company is pursuing local manufacturing not only to sell vehicles but also to create jobs and "cooperate with local technologies"

Localization Efforts

• "Step by step, we are trying to localize production and rely mainly on local manufacturing," he told an event in Chery's headquarters in Wuhu

Chery's Role in the Global Auto Industry

• Chery, which sells the Omoda and Jaecoo brands, is one of several Chinese automakers disrupting the global auto industry with advanced technology and prices that legacy car companies have struggled to match

Technological Advancements and Market Impact

• The company said it will start building fast-charging and energy storage stations in countries including UK, Spain and Thailand from 2027 and will launch robotaxis first in UAE from next year

International Expansion Plans

• Fast-charging and energy storage stations to be built in the UK, Spain, and Thailand from 2027

• Launch of robotaxis in UAE starting next year

Reporting Credits

(Reporting by Qiaoyi Li, Zhang Yan and Kevin Krolicki in Wuhu, Shi Bu in Beijing; Editing by Mrigank Dhaniwala)