Chery, a major automotive manufacturer in China, is exploring the possibility of establishing a factory in Türkiye as part of its ambitious plan to enter the European market, according to reports.
Chairperson of the Board of Chery Group Yin Tongyu expressed the company's eagerness to expand in Türkiye, saying: "We have grand ambitions for Türkiye. Our plan is to manufacture cars locally and export them to Europe. While our slogan has been 'In China for China,' one day we hope to proudly say 'For Türkiye and Europe in Türkiye,'" according to the Turkish daily Hürriyet.
China, the world's largest automotive manufacturer, is breaking into European markets with its growing focus on electric vehicles. While Chinese manufacturers have traditionally sold most of their products in the domestic market, they have recently increased their sales in Europe and are now exploring opportunities to establish production facilities in Europe or nearby countries.
Among these countries, Türkiye stands out as a key player in the automotive industry with its vast potential in the domestic market and its ability to export to Europe without customs duty.
Chery has most recently entered the Turkish market without a distributor and this move could further boost Chery's presence in the region and enable it to capitalize on Türkiye's strategic location between Europe and Asia.
Meanwhile, Chery Türkiye's President Si Fenghuo said Türkiye's large market size and the presence of various manufacturers in the region makes it a valuable choice for investment.
He emphasized the need for Chery to have a strong market presence in the country before implementing their larger investment projects.
Their immediate goal is to increase their market share in the country to 7%.
Founded by the Chinese government in 1997, Chery operates over 10 factories throughout China, with a total production capacity of 1.2 million units. With new investments planned for 2024, the company anticipates an increase in production capacity to 2 million units.
Chery boasts a diverse portfolio of 20 different brands and recently launched Omoda and Jaecoo as global brands during a special event held after the Shanghai auto show.
Fenghuo also commented on the new Chery models that will be put on the Turkish market next year.
The brand will offer the Sedan body type car, the Arrizo 8, and possibly the electric version of the Omoda 5 in 2024.