Chery Makes History: Starts Passenger Car Production in Europe
Chery, a Chinese automaker, has made history by starting production of passenger cars in Europe. The first vehicle, an S700 under the Ebro brand, rolled off the assembly line in Zaragoza, Spain on November 23, 2024. This marks a significant milestone for Chery and its partner, EV Motors.
The joint venture between Chery and EV Motors began production at the Zona Franca plant in Zaragoza. The plant, which cost around 400 million euros to establish, is expected to produce 50,000 units annually by 2027, ramping up to 150,000 units by 2029. This is a substantial increase from Chery's current production, which reached 1,125,774 vehicles in the first nine months of 2024 alone, with 829,353 units exported.
Chery's expansion into Europe comes amidst a shift in the global automotive industry towards electric vehicles (EVs). The European Commission's recent closure of its anti-subsidy investigation into Chinese BEV imports has paved the way for increased competition in the European market. Chery's first electric pickup truck, the Ebro, was released in late 2022, demonstrating the company's commitment to electrification. Meanwhile, competitors like BYD are also expanding into Europe, with plans to build a plant in Hungary.
Chery's entry into the European market is a significant development in the global automotive industry. With its first production base in Europe, Chery is poised to challenge established automakers and contribute to the region's transition to electric vehicles. The success of the Zaragoza plant will not only benefit Chery and EV Motors but also the broader automotive industry and consumers in Europe.
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