Chery Automobile
China's #2 domestic auto brand and top vehicle exporter
CHERYWuhu, Anhui, China~50,000Founded 1997~$1.2B (HK IPO) raised~$23B valuationwww.cheryinternational.com
SectorsElectric Vehicles
Revenue (2025)
300.3B CNY
+11.3%
Revenue (2024)
269.9B CNY
+65.4%
Revenue (2023)
163.2B CNY
+76.2%
Revenue (2022)
92.6B CNY
Total Vehicles Sold (2025)
2.67M
NEV Sales (2025)
826,500
+72.5%
Vehicles Exported (2025)
1.29M
EV Gross Margin
8.8%
from 0.4%
HK IPO Valuation
~$23B
Funding History
Total raised: ~$1.2B (HK IPO) ยท Latest valuation: ~$23B
| Round | Date | Amount | Valuation | Key Investors |
|---|---|---|---|---|
| Hong Kong IPO | Sep 2025 | ~$1.2B | ~$23B | Hillhouse CapitalGreenwoods Asset Management11 additional cornerstone investors |
Product Specifications
| Brand / Model Line | Powertrain | Target Market | Notes |
|---|---|---|---|
| Chery (Main Brand) | ICE / PHEV / BEV | Mass market domestic & export | Core brand with Tiggo SUV lineup |
| EXEED | ICE / PHEV | Premium domestic & intl | Premium sub-brand competing with foreign JVs |
| iCAR | BEV | Youth / urban | Pure-electric sub-brand targeting younger buyers |
| JAECOO | ICE / PHEV | Global SUV market | Export-focused off-road/SUV brand |
| OMODA | ICE / PHEV / BEV | Global compact/crossover | Export-focused compact brand |
Partnerships & Investors
HuaweiTechnology
Intelligent driving and smart cockpit collaboration on select models
CATLSupply Chain
Battery supply partnership for NEV lineup
Various ASEAN PartnersManufacturing JV
Local assembly plants in Thailand, Indonesia, Malaysia, Vietnam, Philippines
Kazakhstan PartnersManufacturing JV
CKD/SKD assembly operations for Central Asian markets
Key Milestones
1997
Company Founded
Established in Wuhu, Anhui province as a state-owned automaker
2001
First Export
Began exporting vehicles to Syria, marking the start of its international expansion
2020
NEV Push Begins
Accelerated electrification strategy across multiple brands
2023
1M Export Milestone
Became one of China's leading vehicle exporters with over 1 million units shipped overseas
2024
Revenue Crosses 300B CNY Target
Revenue reached 269.9B CNY, up from 163.2B CNY in 2023
2025
Hong Kong IPO
Raised ~$1.2B in HK listing at ~$23B valuation with 13 cornerstone investors including Hillhouse and Greenwoods
2025
2.67M Vehicles Sold
Sold 2.67 million vehicles globally with NEV sales of 826,500 units (+72.5% YoY)
2025
1.29M Vehicles Exported
Exported 1.29 million vehicles, reinforcing position as China's top auto exporter