How innovation helped Chery breakthrough against the trend
Despite many challenges plaguing the automotive industry in 2022, Chinese automaker, Chery, managed to show exceptional resilience and performed strongly. Now celebrating its 25th Anniversary, Chery has managed a breakthrough against the trend and created history in sales and exports.
According to the China Association of Automobile Manufacturers, among the top 10 enterprises in terms of vehicle sales in 2022, the Chery Group ranked second in the industry with a 28.2 percent growth rate, significantly exceeding the industry average growth rate of 2.1 percent.
Moreover, in 2022, 3.111 million Chinese vehicles were exported and of the total number, 452,000 units were from the Chery Group. This makes the company China’s top passenger car exporter for the 20th year in a row. Essentially, this means that Chery vehicles accounted for one out of every seven exported by China in 2022.
Chery maintains that innovation is the only strategy that can overcome anything, especially during uncertain times like 2022. In line with this, Chery unveiled its 2025 cutting-edge technology strategy in September 2022 which presents a ‘Technology Chery’ that breaks the traditional impression of the outside world.
This new Chery strategy layout not only spans multiple fields such as traditional core technology and CASE (Connected, Autonomous, Sharing and Electric) technology, but also covers multiple dimensions such as basic systems, cutting-edge technologies, sharing platforms, digital economy, value chain and ecosystem.
On top of that, the ‘Technology Chery’ of today is not only a building elevated layer upon layer, but also a living innovation ecosystem. Many technological achievements have already been applied to its mass-produced products for many years, increasing their competitiveness and contributing to the rapid growth in Chery Group’s sales.
In 2022, the Chery Group also exported over 450,000 vehicles, which is a 68 percent year-on- year increase and on average, a Chery vehicle is delivered to overseas customers every 70 seconds. This success was the result of the brand innovation in its integration of talents, technology, supply chain, culture and other aspects.
In 2022, Chery continued to increase the layout and launches of its products in overseas markets. Chery has reportedly also exported over 2.4 million vehicles, accounting for 20 percent of the total export volume of Chinese automobiles over the same period.
Chery has also been expanding its talent pool, recruiting top global experts in various fields such as styling, chips, software, operating systems and intelligent cabin, as well as establishing a team of chief scientists. The company currently has over 10,000 engineers and scientists.
So will Chery be able to keep up the momentum this year? Let’s wait and see.
