Chery partners with Japanese companies to form joint venture, may sell electric cars locally in the future.

Chery Automobile, together with Japanese company Autobacs Seven and other enterprises, have set up a joint venture company with plans to create a new electric vehicle brand. The joint venture company will develop products based on Chery Automobile's technology, produce them in China, and sell them in Japan. Autobacs is a company that sells new cars, used cars, and automotive supplies. The news was reported by Nikkei on May 11th. Chery Automobile responded to Caixin, stating that it is one of the shareholders investing in the EMT project, but is not involved in the operation and management. Chery Automobile did not disclose the future plans of the joint venture project. The project entity may be a joint venture company established by one or multiple enterprises. According to information published by the Shanghai Market Supervision Administration in October 2024, Chery Automobile plans to establish a joint venture company with Jiangsu Joylong Automobile Group Co., Ltd., Autobacs Seven, Guoxuan High-tech, and Japanese company ANEST IWATA Corporation. The joint venture company will be headquartered in Singapore and plans to produce and sell pure electric vehicles overseas.