Gasgoo Munich-Mention Chery, and many still think of a major car exporter. Now, the Chinese automaker — long reliant on combustion vehicles to crack overseas markets — is rewriting its growth story with new-energy vehicles.
According to Chery's latest production and sales data, NEV sales hit 140,893 units in October 2026 — a 27.7% jump from a year earlier. That marks seven straight months above the 100,000-unit threshold and yet another all-time high for a single month.
Over the first 10 months of this year, Chery's cumulative NEV sales reached 999,417 units, up 43.2% year on year — already surpassing the total for all of last year.
Image credit: Chery
On the global stage, Chery's NEV footprint is expanding just as fast. Data from the China Passenger Car Association and other institutions shows the group claimed a 5.5% worldwide NEV market share from January through August, landing it among the top five global automakers.
Yet, a different number tells a more compelling story than the ranking.
From January through October, Chery exported 614,065 NEVs — a 130.4% surge from a year earlier. Measured against total NEV sales over the same period, exports accounted for more than 60%.
In other words, for every 10 NEVs Chery sells, more than six head overseas.
As competition in China's domestic NEV market intensifies, overseas markets are becoming a crucial growth pillar for Chery.
From combustion-engine export leader to global NEV top five
For years, combustion-engine exports served as the backbone of Chery's global business.
Now, new-energy vehicles are taking on an increasingly central role.
Image credit: Chery
In October alone, Chery shipped 84,728 NEVs abroad — a 108.6% leap that far outpaced the 27.7% growth in its overall NEV sales for the month.
The shift is especially pronounced in Europe.
From January through September, Chery sold 292,000 vehicles across 24 European countries, a 182% annual jump. NEVs accounted for more than 146,000 of those — a 251% surge.
That means roughly one in every two Chery vehicles sold in Europe is an NEV.
Image credit: Chery
On the product front, brands like OMODA and JAECOO are widening their European footprint. The JAECOO 7, JAECOO 5, and OMODA 5 all cracked the top-10 best-seller list in the UK, while the iCAR V23 is carving out niche demand in markets such as Thailand and Malaysia.
While overseas demand climbs, Chery is also racing to flesh out its NEV lineup at home.
From mainstream compact EVs and family sedans to lifestyle SUVs and premium MPVs, Chery is spanning more niches through brands and models like QQ, Fengyun, iCAR, and Luxeed.
Technologically, the Rhino battery, Xunlong ultra-fast charging, and V2G systems form key pillars of Chery's electrification roadmap. Solid-state batteries are slated for vehicle validation in 2027, while the Xunlong platform targets "500 km of range from a 5-minute charge."
Still, a gap remains between technology roadmaps and mass deployment. For Chery, turning R&D spending into product competitiveness that resonates across different markets will dictate whether its NEV business can keep growing.
Selling globally is only step one; taking root globally is next
Doubling NEV exports signals that Chery is accelerating its overseas expansion.
But as export volumes swell, local operations grow ever more critical.
Not long ago, Chery Holding Group Chairman Yin Tongyue addressed this very issue at the 2026 World Intelligent Connected Vehicle Conference.
Yin argued that internationalization cannot stop at shipping finished cars. The focus, he said, must shift from "selling globally" to "growing and taking root globally" — embedding deeply into local tech, supply, and value chains.
He also warned Chinese automakers against blind expansion and cutthroat pricing, urging them to avoid repeating the destructive discount wars that sank early motorcycle exports. Otherwise, he cautioned, "going overseas" could mean "throwing money into the sea."
Measured against Chery's latest sales figures, those warnings carry immediate weight.
Image credit: Chery
Chery is already pushing localization in markets like Malaysia, South Africa, and Spain. In South Africa, the Rosslyn plant is retrofitting existing capacity to steer local manufacturing toward electrification and smart technology; in Malaysia, the plan calls for an integrated layout spanning R&D, production, supply, and sales.
From exporting finished vehicles to tapping local manufacturing resources, Chery's global operations are stretching deeper into the industrial chain.
However, with NEVs making up over 60% of exports, Chery's future performance will be more exposed to shifts in overseas policies, market demand, and supply chains.
Especially in mature markets like Europe, volume growth is merely the price of admission. Product reliability, brand recognition, after-sales service, and local cost control will all shape long-term results.
Chery built its worldwide sales network on combustion engines; now, new-energy vehicles are emerging as the next growth pillar.
Sales approaching 1 million prove Chery has joined the front ranks of the global NEV scale race. Yet an export share above 60% also confronts the company with a far more complex globalization challenge.
Going forward, how many vehicles it exports matters less than whether it can truly hold on to those markets.
