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Chery listed among “Top 20 Chinese Enterprises with the Best Global Image” again

At the 2020 Summit on Global Image of Chinese Enterprises, advised by the Publicity Department of the CPC Central Committee, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and the All-China Federation of Industry and Commerce, hosted by the China Foreign Languages Publishing Administration (CFLPA), Chery was listed among “2020 Top 20 Chinese Enterprises with the Best Global Image” (“Belt and Road” Edition) for its years of results in overseas brand building, moving into the top 10 along with enterprises like Huawei, Lenovo and Alibaba. This is the 5th time that Chery has won this honor and Chery came out on top in the auto industry.

List of Top 20 Chinese Enterprises with the Best Global Image
Medal for Chery

From July to September 2020, CFLPA and China Report Magazine conducted the 6th Chinese Enterprise Global Image Survey along with the Academy of Contemporary China and World Studies and Kantar Group. Through a big data analysis, 120 Chinese enterprises operating in 12 “Belt and Road” countries were selected as analytical samples for the survey. 6,000 citizens in Asia, Europe, Africa, South America and other regions were interviewed. After a model analysis of 4 first-level indicators and 20 second-level indicators, a list of “Top 20 Chinese Enterprises with the Best Global Image” (“Belt and Road” Edition) rolled out.

2020 marks the 20th year of Chery’s globalization. As the first Chinese independent brand to the international auto market, over the 20 years, Chery has implemented a “three-step” globalization plan, and gradually figured out a “Chery scheme” for the globalization of Chinese brands from “going out” and “going in” to “going up”.

Under the “Belt and Road” initiative, Chery has stepped up operations in Ukraine, Russia, Egypt and other “Belt and Road” countries. After years of operations, Chery has established longstanding and friendly cooperation with its partners in most “Belt and Road” countries, and become a well-known auto brand in key markets like Russia and Egypt. To date Chery has established the Wuhu headquarters, global R&D bases in Shanghai, Europe, North America, Brazil, and developed 10 overseas plants, over 1,500 dealers and service outlets. Chery’s overseas production capacity has totaled 200,000 units per year. Chery has exported auto products to over 80 countries and regions, of which 46 are along the “Belt and Road”. With cumulative exports of over 1.65 million units, Chery has been China’s largest passenger vehicle exporter for 17 consecutive years.

Chery is honored as the “Most Popular Chinese Auto Brand” in Russia for the fourth time
China-Europe Chery Freight Train bound for Russia

While Chery was listed among “2020 Top 20 Chinese Enterprises with the Best Global Image”, Chery’s anti-epidemic case was selected by the Information Center of SASAC as an outstanding case of global image building of Chinese enterprises in 2020 (overseas anti-epidemic category).In the global anti-epidemic campaign this year, Chery provided over 1 million articles of medical supplies, anti-epidemic experience and humanitarian aid to more than 20 countries and regions, supporting overseas markets in fighting the epidemic and resuming work.

Certificate of Award for Chery’s Anti-Epidemic Case
Chery’s engineers aiding the Egyptian plant amid the epidemic

Entering key European and American markets is an integral part of Chery’s globalization strategy according to its “three-step” plan. After accumulating some experience in Italy and other overseas markets, Chery has accelerated operations in Europe and America in ways such as technology cooperation and product cooperation.

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Independence, High End, Global Recognition: EXEED Shows “Chinese Strength” in Russia

EXEED TXL, an all-scenario super five-star SUV, was launched in Russia on October 22, 2020. As an independent premium brand, EXEED has built products up to international standards with global vision to deliver quality Chinese products to the world. The launch of EXEED TXL in Russia marks the start of EXEED’s new journey of globalization.

EXEED TXL was launched in Russia on October 22 to kick off a new journey of globalization for Chinese premium auto brands

EXEED causes panic buying in Russia, shows new height of China’s auto industry

EXEED intended to enter Russia early and won the “2020 Breakthrough Award” in the selection of “Models of the Year”, a Russian national auto award in September 2020. The honor shows consumers’ recognition of EXEED’s R&D strength and product platform.

EXEED won the “2020 Breakthrough Award” in the selection of “Models of the Year” in Russia

Newly-launched EXEED TXL will target male consumers with strong mind and on the career rise in Russia’s medium & high-end auto market. The model was highly recognized by Russian consumers and caused panic buying upon launch for its ultra-long 2,800mm wheel base, luxury craftsmanship and persistently outstanding quality in extreme cold.

EXEED TXL is recognized by Russian consumers

EXEED aims to deliver globally competitive products, all-scenario super five-star EXEED TXL conquers Russian consumers

EXEED aims to deliver globally competitive products based on Chery’s top international R&D team and 23 years of mature experience in auto manufacturing.

EXEED TXL launched in Russia comes in two four-wheel-drive variants. The standard five-seat configuration, combined with “super five-star” safety, intelligence, space, exterior and quality, offers Russian consumers a premium mobility experience beyond expectation, and shows the model’s outstanding manufacturing strength and solid process quality. With the five-star + safety DNA of the EXEED brand, the model is a premium intelligent vehicle defining global quality.

EXEED TXL flaunts solid process quality and super luxury intelligent tech configurations

Over the decades, China’s auto industry has forged ahead to achieve breakthrough and go global. The launch of EXEED TXL in Russia marks a new step of Chinese premium brands in globalization. EXEED will continue to develop and lead Chinese premium brands in delivering more popular Chinese products to global consumers.

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Tiggo 8 Plus launched worldwide with delivery of first batch to overseas customers

On October 15 which marks the 20th anniversary of Chery’s export, Tiggo 8 Plus, a new member of Tiggo 8 series, was launched at the Yanqi Lake, Beijing. At the launch conference, tens of Tiggo 8 Plus owners, represented by Mariusz Orbach, First Secretary of the Embassy of the Republic of Poland in China, took keys from Yin Tongyao, Party Secretary and Chairman of Chery Automobile Co., Ltd. (Chery) and Dr. Gao Xinhua, Vice President of Chery and President of Chery Automotive Engineering Research Institute, to join the great family of “TIGGO M.A.N” as the first batch of Tiggo 8 Plus owners.

Yin Tongyao (1st left), Party Secretary and Chairman of Chery Automobile Co., Ltd., poses with a Chery owner for a photo
Dr. Gao Xinhua, Vice President of Chery and President of Chery Automotive Engineering Research Institute, hands a key to a Chery owner

As an independent Chinese auto brand that went global earliest, Chery has become the most popular Chinese auto brand abroad after 20 years of overseas operations. To date Chery has been listed among “Top 20 Chinese Enterprises with the Best Overseas Image” four times, established 4 R&D centers, 10 production bases and over 1,500 sales service networks abroad, exported 1.65 million vehicles to over 80 countries and regions and been China’s largest passenger vehicle exporter for 17 consecutive years.

Chery achieved substantial export growth amid the global spread of Covid-19 this year, and exported 69,371 passenger vehicles in the first three quarters, up 36.4% year on year. Chery’s star models, led by New Tiggo 8, became the most popular Chinese models with record sales and market shares in countries like Russia, Saudi Arabia, Chile and Ukraine.

Tiggo 8 Plus

As a flagship SUV up to global standards, Tiggo 8 Plus is a new model integrating global wisdom and core technologies, as well as Chery’s global strategic model. Chery has initially completed the global deployment of Tiggo 8, and will launch Tiggo 8 Plus in countries like Saudi Arabia, Russia, Uruguay, Ukraine and Chile, to take a further step towards the strategic goal of “becoming a globally competitive brand”.

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19,000+ patents empower “Technology Chery”

Chery has applied for 19,191 patents and obtained 12,393 patents. How has Chery building on technology for 23 years persistently accumulated innovations through patents to set up competition barriers? How has Chery progressively changed intellectual property (IP) into “capital” and “rich ores” that can be developed, be utilized and constantly create new value from patent protection to IP operation? On the afternoon of September 17, the National Intellectual Property Administration, PRC organized over 10 key Chinese media outlets such as people.cn, CCTV, China Daily and China Intellectual Property News, to visit Chery under the theme of “Intellectual Property, Future of Competition”, thereby finding out how Chery has spurred innovation vitality and build “hardcore” brand competitiveness through IP.

01 Building the moat of “Technology Chery”

Since its founding, Chery has taken independent innovation as its core strategy, and invested 5 to 7 percent of its annual revenues to independently develop core technologies restricting the development of China’s auto industry, thus developing an array of independent technologies and products, and forming strong IP reserves.

Take the core technology of the engine known as the “heart” of the vehicle for example. Until the early 21st century China had not developed any car engine independently and imported engine technologies had been backward.

In this context, Chery bet all what it had-about 2 billion yuan on engine development in 2002, which was then considered to risk its life with money in the industry.

Chery went through all hardships to successfully develop the ACTECO engine series with independent IP, to achieve a breakthrough in Chinese high-performance engines, and set off an engine development fever among Chinese automakers.

To date Chery has brought over 8 million units of engines off line and six engines have been listed among “‘China Heart’ Ten Best Engines”.

From engines to transmissions, from core parts to platform development, from traditional automotive technologies to “electric, intelligent, connection and sharing” technologies such as new energy and intelligent connection…Chery has broken foreign core technical barriers one after another. Meanwhile, Chery was aware of the importance of IP protection early. Since 1998, Chery has applied for patents for all its innovations to build a “moat” of “Technology Chery” .

Increasing patent applications and authorizations have witnessed Chery’s confidence in “keeping core technologies firmly in hands” and the ever-growing innovation strength of “Technology Chery”. To date, Chery has applied for 19,191 patents and obtained 12,393 patents, including 3,692 patents for invention, ranking top among Chinese automakers. Chery owns nearly 30 national innovative enterprises, technical centers and laboratories, and has won the “National Science & Technology Progress Award”, “China Top 10 Innovative Enterprises” and other honors over 10 times.

02 Increasing the “gold content” of IP

“The large number of patents is far from being enough for the creation of a high-level IP system”. According to Li Yongjie, IP Director of Chery Holdings, Chery has changed its IP protection focus from the number of patents to the quality of patents early since 2008. Within only two or three years, the percentage of Chery’s applied patents soared from 70% in 2007 to 61% in 2011.

Chery has mapped out an IP development strategy, established an IP work system based on organization and supported by systems and processes, and worked on IP throughout R&D, production and sales.

Chery has also improved its patent layout according to the trend of auto development, and stepped up deployment in cutting-edge technical fields on the basis of consolidating traditional core auto technologies. According to the “2019 Auto Patent Innovation Index” released by China Automotive Technology and Research Center Co., Ltd., Chery was ranked first among Chinese automakers in terms of patent quality-the most valuable ranking category; in the field of intelligent connection representing cutting-edge technologies, Chery was ranked among the world top and first in China.

As one of China’s earliest new energy vehicle developers, since starting to develop energy-efficient and new energy vehicles early in 1999, Chery has established a perfect new energy technology R&D system covering vehicle integration, core technology and core parts development, and applied for over 1,000 new energy patents and obtained over 600 patents, ranking top in the industry. Take the lightweight all aluminum body independently developed by Chery New Energy for example, the company applied for 124 patents for the body alone, and the body has created over 10 “firsts” in China such as “first production all aluminum body” and “first body-battery pack integrated structure”.

03 Horizontal & vertical “alliances”, future of competition

During China’s upgrading from a “manufacturing power” to a “brand power”, IP is not only a “protective umbrella” for corporate innovations, but also “capital” and “rich ores” that can be developed, be utilized and constantly create new value.

Chery has started from scratch, grown in number and achieved a qualitative leap in IP development, and is now working on IP protection and operation. According to Li, to establish a long-effective mechanism, Chery has initially established a “three-in-one” work pattern, i.e. further extending IP work horizontally and vertically based on its existing work system to promote local economic and industrial development. Horizontally, Chery has initiated the “Wuhu Wanjiang Intellectual Property Operation Center” to push Wuhu’s other industries into a fast track of IP development; vertically, Chery has established the “Anhui New Energy Vehicle Industry Intellectual Property Alliance”, to drive the upstream and downstream sectors of the auto industry to set up industrial patent pools with IP as the link of interests, connect patent value and accomplish integrated development.

Intellectual property, future of competition. Benefiting from the building of core competitiveness including IP, Chery has created a forward development system, and significantly improved in technology, quality, cost, delivery and investment. According to a survey conducted by J.D.Power, a global automobile quality test institution in 2019, Chery was ranked 26th above most international brands in terms of product quality, up to leading standards among Chinese brands.

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The Exciting Development of Chery “China Core” over the 21 years

On May 18, 21 years ago, Chery’s first engine was ignited and rolled off the production line. Since then, the “China Core” of China-made cars has had an exciting development.

Only 4 years later, the first generation of ACTECO series engine independently developed by Chery rolled off the production line, marking that Chinese brands had the first serial engine that was fully forward developed and possessed independent intellectual property rights.

21 years later, Chery ACTECO series engine, now, has developed a series of products with displacement from 0.8L to 4.0L after three generations of “evolution”, with accumulated users exceeding 7 million. Chery engine products have been exported to more than 80 countries and regions around the world with its full vehicles, and separately exported to America, Japan, Germany and other automotive industrial powers. As a powerful representative of “China Core”, a total of 6 engines of Chery Group are selected as the “Top ten Engines”.

Figure: The Third-Generation ACTECO 1.6TGDI Engine of Chery

Since the beginning of this year, faced with the adverse impact of COVID-19 epidemic on the automobile industry, Chery Group has experienced a rapid recovery in sales. Because the main models, which have witnessed a month-on-month increase in domestic sales and overseas exports, are all equipped with the third-generation ACTECO 1.6TGDI engine of Chery. From the new generation of Chery Tiggo 8 and Tiggo 7 Pro to high-end brands such as EXEED TXL/TX and LX, ACTECO 1.6TGDI engine has brought exciting and smooth power experience to global users.

Figures: Some Models of Chery Group Equipped with the Third-Generation ACTECO 1.6TGDI Engine

Chery started its development from the engine. In 1997, the building of Chery Automobile was commenced and it was the engine plant pile that was first driven.

Engine is the “heart” of cars as well as the first challenge Chery needs to overcome in car building process. At first, Chery introduced a second-hand engine production line from abroad at a huge expense. Because Chery did not master technologies to assembly the production line, it could only sign an agreement with the foreign party in the form of a “turnkey project”, i.e. the foreign party sent technicians to assemble the production line, while Chinese party could not participate in the whole assembly process and could only obtain the start “key” after the whole line was assembled. This heavy reliance on foreign technology left Chery in a passive and inefficient position, making Chery realize it has to master the core technologies to take the initiative.

Figure: The First Engine of Chery Rolling off the Production Line on May 18, 1999

Chery, a fast-growing company, decided not to rely on foreign technology but to develop and manufacture its own engines. After the successful ignition of the first engine in 1999, Chery initiated painstaking technology exploration and independent development. Chery invested about 2 billion Yuan in cooperation with AVL in Austria to develop a series of engine products. In 2003, the first generation of Chery ACTECO series engine officially rolled off the production line. This engine was also the first self-owned engine of Chery. The first generation of ACTECO series engine covered a variety of models such as 0.8L/1.0L/1.5L/1.8L/2.0L natural aspiration, which were used in classic models such as Fulwin, Cowin and QQ at that time, indicating that Chery had truly mastered the core engine technology in its own hands.

Figure: First Generation of Chery ACTECO Series Engine

Time flies. In 2009, the second generation of Chery ACTECO series engine came off the production line. Since then, Chery has achieved a “zero” breakthrough in China-made high-performance engine. Compared with the first generation engine, the second generation engine has achieved comprehensive progress in power, economy and emission, and is also more optimized in structure, with the advanced lightweight level in the industry at that time. The second generation engine covers multiple models such as 1.6DVVT/1.5DVVT/1.0TCI/1.5TCI, and is assembled on multiple products of Chery Arrizo and Tiggo series.

Figure: The Second Generation of Chery ACTECO Series Engine

Relying on the forward development system and leading technological advantages, Chery continuously develops engines with higher technical level and stronger performance. In 2018, the third generation of Chery ACTECO series engine came into being. The third-generation engine of Chery includes models such as 1.6TGDI/1.5TGDI/1.2TGDI. ACTECO 1.6TGDI engine is the first product of the third-generation engine. This engine is excellent in power performance with a maximum power of 145 kW and a peak torque of 290 N•m. Moreover, with 37.1% thermal efficiency, it continues to lead in China-made engines. This engine is the first to adopt five core technologies of Chery, including iHEC (smart) combustion system, rapid heating thermal management system, rapid response booster technology, friction reduction technology, and lightweight technology. In 2019, the third-generation of Chery ACTECO 1.6TGDI engine won the title of “Top Ten Engines of the Year”. In the same year, the third-generation of Chery 2.0TGDI engine was successfully ignited and would come into the market first equipped on EXEED VX this year.

The thermal efficiency of Chery ACTECO 1.6TGDI engine exceeds 37.1%

In 2019, the third generation of Chery ACTECO 1.6 TGDI engine adopted high-pressure casting all-aluminum alloy cylinder block in new materials, and many new technologies such as modular integrated design and structural topology optimization, so the engine weight was 21 kg lighter than that of the previous generation engine, further improving fuel economy with more excellent power experience at the same time.

Meanwhile, Chery, as one of the earliest automobile companies in China to develop new energy engines, undertook a number of national new energy projects. At the 2019 World New Energy Vehicle Congress, Chery’s special 1.6TGDI hybrid engine attracted much attention. After verified in the thermodynamic development test, the highest effective thermal efficiency of this engine reached 41%, reaching the world’s leading level.

Figure: Chery 1.6TGDI Hybrid Engine

The evolution of Chery’s “China core” embodies its adherence to “technology-oriented enterprise” and consolidation of core competitiveness over the past 20 years. Chery is the first automotive company in China to master engine, automatic transmission, chassis, engine management system (EMS) and platform technology through independent innovation. After many years of hard work, Chery has made a series of breakthroughs in core technology fields such as power technology, platform technology, new energy, intelligent network connection and autonomous driving technology. By the end of 2019, Chery Group had applied for a total of 18,601 patents and obtained 12,012 authorized patents, of which 3,561 were invention patents, accounting for 30% of the authorized patents and ranking among the best in China’s automobile industry.

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Chery Exeed TXL makes history with five-star plus C-NCAP safety rating!

On August 29, the China Automotive Technology &Research Center (CATARC) released the results of the second batch of C-NCAP evaluations in 2020, and Chery Exeed TXL ranked first among all midsize SUV with an overall score of 93.6 percent, the highest since the implementation of the latest rules, winning the “five-star plus” safety rating. By virtue of its peerless safety performance and “people-oriented” safety concept, Exeed TXL scored 96.09% in occupant protection and 75.73% in pedestrian protection, and scored full marks in active safety, all of which are higher than the historical average given by C-NCAP.

Exeed TXL won the five-star plus safety rating in the second batch of C-NCAP evaluation results in 2020

The five-star plus safety rating from C-NCAP is not only an authoritative affirmation of the comprehensive safety performance of Exeed TXL, but also a perfect verification of the safety quality of Exeed. Based on the Exeed M3X platform, Exeed TXL adhered to the highest safety standards from the beginning of design. With the high-strength monocoque body structure, the Advanced Driver-assistance Systems (ADAS) and an intelligent cabin with 360° safety protection, Exeed TXL creates a robust and reliable safety fortress for consumers.

The top rating of Exeed TXL in the C-NCAP crash test benefits from its high-strength monocoque body structure. Exeed TXL applies high-strength steel with tensile strength of 1,500MPa to ensure that the occupants are given high survivability and kept safe when the vehicle suffers frontal, side or rear impact at a high speed. In the event of a rollover accident, the vehicle body can withstand an impact load of more than 10 tons, making the body a real safety box. The Benteler high-strength hot-formed steel comparable to luxury vehicles with high-strength energy-absorbing box can maximize the transfer and absorption of the impact force; at the same time, the six-way airbags integrated in the cabin can also mitigate the impact for the passengers to the maximum extent.

 

High-strength monocoque body structure for 360°safety protection

As for active safety, a series of user-friendly Advanced Driver-assistance Systems (ADAS) and Bosch’s latest ESP 9.3 system enable Exeed TXL to make the fastest response before a vehicle accident. The Forward Collision Warning (FCW) system combined with the Autonomous Emergency Braking (AEB)with pedestrian detection constantly monitors the vehicle or obstacle in front, and before a collision, issues an active alarm and automatically applies the brake to reduce the chance of an accident.

FCW + AEB with pedestrian detection

Exeed TXL also provides comprehensive safety protection for the occupants. In the intelligent cabin with 360°safety protection, the strong protection from the AQS with CN95 grade filter, the remote active cabin self-cleaning system and the advanced body sealing technology keeps the inside air fresh at all times; and the industry-leading feature of Around View Monitor maximizes the driving safety.

Intelligent cabin with 360° safety protection forhigher health and safety of the occupants

Safety is by design. As a high-end brand of Chery, Exeed is based on individual vehicle service scenarios and has been featured with forward-looking and reliable active and passive safety protection systems since the beginning of research and development, thus avoiding accidents and mitigating injuries to the greatest extent. Since the implementation of the latest C-NCAP rules, TXL ranked first among all midsize SUVs and received a five-star plus safety rating, fully verifying its core safety concept of “People-oriented”. In the second half of the year, the new Exeed TXL model will debut. In the future, through the industry-leading M3X platform, more Exeed products will come with superior quality, safety and reliability, bringing safe and smart driving experience to consumers.

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Chery New Energy achieves breakthrough in intelligent driving

On August 7, 2020, Chery New Energy Vehicle Co., Ltd. (Chery New Energy) and  Unlimited AI jointly launched Ant Intelligent, a model carrying China’s first independently developed L2.99 intelligent driving system. This marks a milestone in the history of China’s auto industry and a new stage for the localization of Chinese core auto technologies.

When most automakers and tech enterprises in the world were focusing on developing L3/L4/L5 autonomous driving systems, Chery New Energy believed differently that there is huge market space in some place close to Chinese consumers. It teamed up with Unlimited AI ,a primary subsidiary of ZTE engaged in automotive electronics, to develop an L2.99 intelligent driving system. Through two years of cooperation, China’s first independently developed production model-L2.99 intelligent electric vehicle was launched, filling a domestic gap in this field.

Ant Intelligent with an L2.99 intelligent driving system on board integrates world leading technologies to create an intelligent mobile terminal. It not only offers a future-oriented driving experience, but also puts customer safety and comfort first. Compared to Tesla Model 3 similarly known for intelligent configuration, Ant Intelligent is superior in all functions. The improved functions of rear collision warning (RCW) and around view monitor (AVM) make driving safer and control easier.

(√ denotes “available”; × denotes “not available”)

Empowered by core technologies, Ant Intelligent is comparable to luxury electric models. This is the brand and technology confidence that Chery New Energy has developed in the last more than 20 years.

As one of China’s earliest enterprises that predicted the trend of new energy development and developed new energy vehicles, Chery New Energy started to develop energy-efficient and new energy vehicles early in 1999. Based on Chery’s technical advantage, it has established a perfect new energy technology R&D system covering vehicle integration and core technology & parts development, applied for over 1,000 patents and obtained over 600 patents in the new energy field, ranking top in the industry.

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Chery FS receives “Jinding Award” at Auto Finance International Summit

At the recent 5th Auto Finance International Summit, Chery HuiYin Motor Finance Service Co., Ltd. (Chery FS) received the “Jinding Award for Best Auto Finance Service Innovation” in recognition of its innovation efforts and efficient services.

As a renowned professional auto finance summit, the 5th Auto Finance International Summit took place in Shanghai, with the theme “Accelerating the compliance and online development of auto finance in the new situation”. It brought together finance elite to interpret new industrial policies, analyze key problems in the sustained development of the industry and explore ways for industrial development.

The “Jinding Awards” presented at the summit include 17 awards, cover three categories: innovation, product service and star enterprise, and target automakers, dealer groups, auto finance companies, trust companies, fund companies and banking institutions. Upon reviews by the financial institute expert panel, Chery FS stood out by customer service innovations, to claim the “Jinding Award for Best Auto Finance Service Innovation”.

Finance is one of the seven industries deployed by Chery Holding Group. Founded in 2009, Chery FS is the only Chinese auto finance company among the five standing members of the Auto Finance Committee, China Banking Association.

Thanks to its diversified development channels, as well as efficient and targeted intelligent services, Chery FS has developed over 2 million personal loan customers and over 3,000 partners, and issued a total of 70 billion U.S. dollars in loans worldwide.

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EFORT goes public on STAR Market as Chery’s first STAR-listed stock

Chery-incubated EFORT Intelligent Equipment Co., Ltd. (EFORT) went public on the START Market of the Shanghai Stock Exchange on July 15, with the ticker symbol “688165”. This is another listed subsidiary incubated by Chery after the listing of Bethel Automotive Safety Systems Co., Ltd. on the Main Board in 2018.

EFORT issued 130 million shares at 6.35 yuan per share. On its first trading day, the stock opened at 26.66 yuan per share, and skyrocketed 387.87 percent to close at 30.98 yuan per share with a market capitalization of about 16.165 billion yuan.

Over the years, Chery has offered about 150,000 jobs by incubating enterprises in emerging industries such as industrial robotics, general aviation, new energy, modern agricultural equipment, intelligent connectivity, auto finance, tourism real estate and cross-border e-commerce.

EFORT is a Chinese leading industrial robot enterprise, one of China’s top 100 intelligent manufacturers, as well as a member enterprise of Chery Technology-a key enterprise in Chery’s automotive parts sector. The last three digits (“165”) of the ticker symbol “688165” taken by EFORT represent its first independently developed 165kg heavy-duty point welding robot.

EFORT has created a layout of core parts, machines and high-end system integration covering the whole industrial robot chain, used robot products and solutions to empower industries such as new energy vehicle, rail transit, aerospace, 3C electronics, PV, construction machinery and foundry, and exported them to Europe, Asia and Africa.

EFORT will invest the raised capital in the R&D and industrialization of next-generation intelligent high-performance industrial robots, the performance improvement and capacity building of core robot parts, as well as the R&D and industrialization of a robot cloud platform, in an effort to become a globally competitive robot company.

In recent years, Chery has taken full advantage of its institutional advantage and brand effects, focused on the auto industry, deployed in seven business sectors: automobile, automotive parts, shipping, real estate, finance, modern services and intelligence, and established over 270 member enterprises. With over 90 parts manufacturers, Chery Technology, a key enterprise in Chery’s automotive parts sector, has implemented the strategy of “industrial management + capital operation”. With nearly 20 listed companies, Chery has kept promoting the capacity improvement and win-win development of its member enterprises.

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Chery claims 2020 CEM Insight Award for Leadership in Energy Management

At the Energy Management Leadership Awards Ceremony during the 11th Clean Energy Ministerial (CEM 11), Chery received the “2020 CEM Insight Award for Leadership in Energy Management” as the only Chinese automaker awarded this year. It is Chery’s first international energy management award.

Certificate of Award

Inaugurated in 2010, CEM is the only permanent international ministerial meeting on clean energy. With key members including China, Australia, Brazil, Canada, Chile, France, Germany, India, Italy, Japan, Russia, Saudi Arabia, South Korea, Spain, the UK, the U.S. and the UAE, CEM is aimed to promote international cooperation in clean energy. Initiated by CEM’s Energy Management Working Group, the Energy Management Leadership Awards are presented to enterprises that have elevated the global awareness and benefits of energy management to the ISO50001 energy management system standard.

In recent years, Chery has kept increasing investment in energy-conserving renovation. Chery has built a roof/shed PV power generation system that had generated 62 megawatts or 61.8 million kilowatt-hours of electricity by late 2019; has completed the LED renovation of its key production line/station lighting system, saving electricity by some 4.2 million kilowatt-hours annually; has completed the renovation of frequency conversion fans of the air conditioning system in the painting shop by using frequency conversion technology to adjust fan frequency, to save electricity by some 600,000 kilowatt-hours annually. Chery has also quantized and checked carbon footprints of products, and disclosed the carbon footprint check report.

Chery’s roof/shed PV power generation system

In terms of energy management, Chery introduced the ISO50001 energy management system standard in 2015, and completed the switch to the new standard in 2019 as the first Chinese automaker to pass the version change audit. Chery has kept improving energy management system construction, and mobilized companywide engagement in energy conservation, to improve energy performance year by year. According to statistics, Chery saved energy by 32,862GJ from 2018 to 2019, to support its sustainable development goal with less resources and energy consumption.

In the future, Chery will advance the application of high-efficiency lighting, PV power generation, ultra efficient equipment and intelligent micro grid, to further improve energy efficiency and management.