The Chinese carmaker Chery creates new brands
- The Chinese carmaker Chery has experienced a strong growth over the past two years, becoming the fourth carmaker in China (excluding JV) in 2022. Stimulated by its successes in China, but also in Russia, Turkey and Italy, three countries in which Chery has become the leading Chinese brand in terms of sales, Chery has created new brands to further extend its influence in China and abroad. Thus, the Omoda, Jaecoo, Luxeed and Icar brands were created in 2022 and 2023, in addition to Chery's traditional brands, such as Jetour, Exeed, Riich, Karry and YibinKaiyi.
- Omoda is a luxury brand created in 2022 only available outside China. Chery said the Omoda brand would be a “valid alternative” to Japanese and German brands that have suspended operations in Russia. In 2023, 45,000 Omoda were sold in Russia. Figures for 2024 are not yet available.
- Jaecoo is a brand created in 2023 only available outside China. It produces SUVs based on Chery SUVs but with a more premium position. In 2023, 4,500 Jaecoos were sold in Russia. Figures for 2024 are not yet available.
- Luxeed was created at the end of 2023 in partnership with smartphone producer Huawei to launch a new range of battery electric vehicles. The first model resulting from this partnership is the Luxeed S7, a large battery electric sedan which intends to compete with the Tesla Model S in the electric premium sedan segment. 700 are sold per month in China. No exports at the moment.
- ICar, which was created in 2023, is a battery electric vehicle brand targeting young Chinese customers. 1,000 are sold per month in China. No exports at the moment.