Etiqueta: Chery

At the same time, China's No. 1 automaker will start making cars earlier than expected at a new plant in Turkey where labour costs are lower, and will vastly exceed its announced production plans, one of the sources said. Shifting production away from Hungary in favour of Turkey would be a setback for the European Union, which has been hoping that its tariffs on EVs made in China would bring in Chinese investments and well-paid manufacturing jobs.

In the first half of the year, BYD Group’s cumulative sales reached 2.146 million vehicles, becoming the only Chinese automaker to exceed 2 million vehicles. BYD’s new energy vehicle sales in June 2025 were 382,600 vehicles, a year-on-year increase of 11.98%. Among them, the sales of pure electric vehicles were ... [continued]

The Chinese government has previously said automakers will have to repay subsidies that they have been found to have claimed improperly

China intensifies scrutiny of its automotive industry as a two-year price war starts impacting profits across the supply chain. By Stewart Burnett

The Subsidy Scandal Shaking China's EV Giants: BYD and Chery's Risky Road Ahead

SHANGHAI/BEIJING (Reuters) -China's Chery and BYD improperly claimed a combined $53 million in government subsidies for eco-friendly vehicles sold in the five years to 2020, accounting for nearly 60% of improper claims, an industry ministry audit found. Chery had 7,663 vehicles disqualified while BYD had 4,973. The ministry, Chery and BYD did not reply to requests for comment.

A new study models the impact of EU electric vehicle leadership and ambitious policies on investment and jobs.