Chery

The Exeed Sterra ES is set to intensify competition in China's electric sedan sector and could also put Xiaomi, which is about to launch its first model, under more pressure.

Chery said its new concept car achieves the world's lowest wind resistance of 0.168 Cd with the help of its bionic design with the inspiration of tuna fish.

Chery is recalling a total of 20,063 Chery eQ1 EVs with production dates between December 3, 2016 and February 9, 2018 due to a battery system software strategy issue.

In January-February, Chery's NEV sales were 13,293 units, down 57.6 percent from 31,367 units in the same period last year.

In 2022, 3.11 million vehicles were exported from China, of which Chery contributed 452,000, or 14.5 percent.

Chery is planning at least five models with L2+ assisted driving capabilities based on its E0X platform, which will use Horizon Robotics' Journey 3 chip as the computing cornerstone.

Chery eQ series EVs saw retail sales of 9,084 units in China in May, up 61.3 percent from 5,632 units in the same month last year.

This is because the cost of some models continues to increase due to the impact of the sharp increase in the price of raw materials including batteries and chips.

The price range for these budget models is RMB 29,900 - RMB 81,900, and the increase is close to 10 percent for several models.

Luxshare's controlling shareholder will buy part of the stakes in Chery Holdings and two other companies for RMB 10 billion.