Chery Expands brand portfolio in Europe with the introduction of a new Internal Combustion Engine/Hybrid vehicle brand
Chinese Automaker Jetour to Enter European Market
Chinese automaker Jetour is set to make its debut in Europe later this year, marking a significant expansion for the company [1]. The move comes as part of Jetour's broader international growth strategy, which includes plans to establish production sites in Europe [2].
The company's entry into Europe follows the success of its brands, Omoda and Jaecoo, in the U.K. market. These brands have found traction among consumers due to tariff-free trade for their battery-electric-vehicle (BEV) products, a privilege not extended to BEV products from other automakers by the European Union [3].
Jetour's European launch will initially include SUV models, available as both internal-combustion-engine (ICE) and plug-in hybrid options. The company is also planning to introduce its first full-electric model, the T0, by the end of 2026 [1].
President Ke Chuandeng has expressed that it's not realistic to always import cars from China, but he has hinted at potential production sites being set up in Europe [4]. This move could help Jetour navigate the competitive European market and cater to local consumer preferences.
Jetour's expansion into Europe comes amidst a vehicle price war in the domestic Chinese market. The company's focus on hybrid technology, such as the Shanghai L7 Plus, may help it maintain a competitive edge [5].
The company's rapid success in markets like the UAE, where it has outsold established brands like Ford, underscores Jetour's potential to build strong sales streams in new regions [6]. President Ke Chuandeng predicts Jetour's sales should hit 800,000 this year, with sales outside of China projected to account for 50% of its total sales within the next three to five years [7].
Jetour is not the only Chinese automaker expanding into Europe. The likes of BYD, Xpeng, and Nio are also seeking less competitive markets, indicating a growing Chinese presence in the European automotive industry.
References:
- Reuters
- AutoExpress
- Car Dealer Magazine
- Autocar
- China Daily
- Gulf News
- China Daily
Technology plays a crucial role in Jetour's expansion strategy, as the company plans to introduce hybrid and electric vehicle models in Europe later this year. The introduction of these new cars signifies a significant shift towards advanced technology in Jetour's lineup.
President Ke Chuandeng has hinted at potential European production sites being set up, which could led to increased localized technology solutions catering to European consumer preferences and navigating the competitive market.
