Chery Holding Group Co., Ltd. (Chery) has made a remarkable entry into the 2024 Fortune Global 500 list, ranking 385th. This milestone marks a significant achievement for the company, which began its journey 27 years ago in a modest "small thatched house" on a wasteland. Today, Chery has become a leading global auto brand with a presence in over 80 countries and regions, serving 14.2 million users worldwide.
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Chery's Journey to Global Recognition
Chery’s inclusion in the Fortune Global 500 shows its enduring commitment to innovation and sustainable growth. Starting from humble beginnings in the 1990s, Chery has grown through China's evolving automotive industry. Under the leadership of Yin Tongyue, the company overcame significant challenges, including a lack of resources and technology, to achieve several breakthroughs. In 1999, Chery successfully produced its first engine and car, the "Fengyun," which quickly became a market leader. Over the years, Chery has consistently led the sales of Chinese independent brand cars and has been a pioneer in core automotive technologies.
The company's strategic transformation since 2010, focusing on high-quality development and innovation, has driven its recent success. Chery has expanded its global footprint, with annual sales nearly doubling from 2021 to 2023, reaching 1.881 million vehicles last year. In 2024, Chery continues its upward trajectory, with sales exceeding 10,000 vehicles in the first half of the year and demonstrating significant growth in both new energy and fuel vehicle segments.
The Emergence of EXEED: Chery's High-End Brand
In its quest for excellence, Chery launched the EXEED brand, a symbol of exploration and high-end automotive artistry. Since its inception in 2017, EXEED has quickly gained international acclaim. The brand's debut at the Frankfurt Motor Show with the TX concept car showcased its commitment to luxury and innovation. EXEED caters to a new generation of consumers seeking a luxurious, sustainable, and personalized driving experience.
EXEED's brand philosophy "Born for More" is deeply rooted in the spirit of continuous exploration and self-transcendence, supported by Chery's substantial investment in top-tier strategic resources. When EXEED started, it introduced the M3X Mars architecture, advancing intelligent modular car manufacturing. This platform, developed to luxury car standards, embodies EXEED's flagship value and forward-looking technology. "M" signifies Mars, representing the brand's relentless pursuit of exploration; "3" denotes the three core technical foundations—flexible hardware platform, intelligent network architecture, and powertrain; and "X" stands for limitless possibilities, allowing for the creation of diverse models tailored to different customer needs.
Further advancing its technological frontier, EXEED introduced the T2X platform, an upgrade of the M3X, featuring comprehensive enhancements in safety, comfort, space, and power. The T2X PHEV architecture is built to global five-star safety standards, including advanced features like a global quality management system and ten airbag protection. Comfort is ensured through CDC "magnetic suspension," hydraulic shock absorption exceeding 30%, and a dual pinion electric steering system. The platform maximizes occupant space using the MM design concept, while the third-generation Kunpeng Hybrid and Kunpeng ICE engines deliver unparalleled power and efficiency.
EXEED's commitment to high-end, innovative automotive solutions is further demonstrated by the T2X ICE architecture. The 1.6T engine, with a thermal efficiency exceeding 37.1% and a peak torque of 400N•m, stands out as the strongest in its class. Paired with an 8AT transmission for smooth shifting and high fuel economy, and mechanical four-wheel drive for superior maneuverability, the T2X ICE architecture epitomizes performance and reliability.
Introducing EXLANTiX and the ES Model The ES model features frameless doors, high-stiffness silent glass, and intelligent speed regulation, enhancing both performance and comfort. The vehicle's streamlined dome canopy uses advanced double-layer nano-silver-plated insulating glass, significantly improving insulation and UV protection. The ISD interactive headlights add a playful touch with more than ten built-in emojis, enhancing the driving experience. Chery's recognition in the Fortune Global 500 list and the introduction of the EXEED and EXLANTiX series signify the company's strategic focus on innovation and high-quality development. By investing in core technologies and maintaining a global perspective, Chery aims to lead the automotive industry's transition towards sustainable and intelligent mobility. Looking ahead, Chery plans to invest over 100 billion yuan in research and development over the next five years, focusing on platform architecture, hybrid engines, hydrogen energy, electric drive, and intelligent interaction technologies. This substantial investment underscores Chery's dedication to advancing automotive technology and delivering cutting-edge products that meet both domestic and international market demands. In conjunction with its Fortune Global 500 recognition, Chery will host the 2024 Global User Summit in October. This summit will gather users from various countries, providing a platform to showcase Chery's latest innovations and engage with its global user community. The ecological conference will emphasize Chery’s commitment to sustainable practices and user-centric services, reinforcing the company’s global strategy and user service philosophy. By fostering a deeper connection with its users and stakeholders, Chery aims to cultivate a vibrant and sustainable automotive ecosystem.
Building on the success of EXEED, Chery has introduced the EXLANTiX series, a new range of high-end new energy vehicles (NEVs). The ES model, the first pure electric sedan in this series, embodies Chery’s vision for the future of sustainable mobility. The ES stands out with its sleek, supercar proportions, measuring 2 meters in width and less than 1.5 meters in height. Its design elements, such as the Phoenix Feather Disc Surface and Wind Trace Tail Light, offer a distinctive and dynamic appearance.
