Cowin may return to Chery Automobile

Shanghai, June 22, Gasgoo - Established in 2014, Cowin, an auto brand under Chery Holding, targets at connected vehicles and crowdsourcing manufacturing. Recently, news comes out that Cowin will return to Chery Automobile. If the news comes true, then Chery Automobile will manage four brands including Cowin, Chery, Qoros and Chery Jaguar Land Rover. In the meantime, Cowin will face a new plan in its group position, development target and direction in the future.

All signs show that Chery Group is reorganizing its brand management to pursue for a new strategy suitable for the group development. Insiders from Cowin revealed that in the future, Cowin will target at products with price ranging from RMB 100,000 to 200,000, while Qoros will target at markets with prices exceeding RMB 200,000. Chery Jaguar Land Rover will continue to focus on luxury SUV market.

Cowin has launched four models including C3, C3R, X3 and V3 since its establishment. It also launched Cowin X5 concept model based on “crowdsourcing” designing idea. According to plan, Cowin will continue to launch “5+1” product plan to achieve the development target in three periods to achieve a total sales volume of 250,000 to 300,000 units in 2020. Cowin will continue to expand its sales network to make a well-established after-sales service system.

Cowin plans to launch X3 and V3 before the end of 2016 to achieve the total growth of 140%. During the year 2016 to 2018, Cowin will lift its management abilities, establish good brand images and launch two SUV products including X5 and X7, achieve a total sales growth of 50% to 150,000 to 200,000 units. In the year 2018 to 2020, Cowin will launch V5 and C5 to achieve a total sales growth of 25% to 250,000 to 300,000 units.