Is Chery a State-Owned or Private Enterprise?

[DeLuna]

Chery Automobile Co., Ltd. is a state-controlled enterprise engaged in automobile production. It was registered and established on January 8, 1997, with its headquarters located in Wuhu City, Anhui Province. The company's products cover passenger cars, commercial vehicles, mini vehicles, and other fields. Chery Automobile has been the sales champion of China's independent brands for nine consecutive years, becoming a representative of Chinese independent brands. Additional Information: Development Background: Chery Automobile Co., Ltd. originated from the automobile project of the Wuhu Municipal Government in Anhui Province. The local government of Wuhu had long desired to undertake an automobile project. During the economic overheating period of 1992-1993, a village-run factory in Wuhu generated nearly 100 million yuan in annual profits, which inspired the local government leaders, who were struggling with economic backwardness, to consider entering the automobile industry. The original plan was to cooperate with FAW, but the collaboration was unsuccessful. Current Status of Chery: Chery Company now has production and R&D units such as the Passenger Vehicle Company, Engine Company, Transmission Company, Automotive Engineering Research Institute, Planning and Design Institute, and Testing Technology Center, with an annual production capacity of 900,000 complete vehicles, 900,000 sets of engines, and transmissions.