Chery, the Chinese automotive powerhouse, is reportedly finalizing plans to establish its first European plant in Spain, marking a potential end to its previously considered location in Turkey. Despite engaging in preliminary discussions with Turkish ministries last year about setting up a production facility, Chery has now veered towards Spain, with Barcelona being the probable site for its new factory.
This development surfaces amidst anticipation of Chery’s expansion in Turkey, where it made a comeback last year and quickly gained consumer favor. The company had announced in October 2023 its intentions to establish a production base in Turkey, signaling a strengthening of its presence in the country. However, recent reports suggest a pivot to Spain, indicating that negotiations in Turkey might not have culminated in a favorable outcome.
While there has been no official confirmation from Chery, insider sources imply that the agreement with Spain is nearing completion. This move would represent Chery’s inaugural manufacturing venture in Europe, highlighting a strategic redirection of its investment priorities.
The choice of Spain over Turkey hints at a missed opportunity for the latter, reminiscent of previous investment shifts by major automotive companies like BYD. Nevertheless, the situation remains fluid, and definitive details are awaited to understand the full scope of Chery’s European ambitions.
Meanwhile, Chery’s iCar V23 made its debut in China. This car is the first model jointly developed by Chery and Zhimi Technology and is iCar’s second mass-produced model following the iCar 03. Positioned as a pure electric small SUV for young consumers, it is expected to be officially unveiled in the second week of April and launched in the second half of 2024.
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