‘Temu Range Rover’: what the bestselling Jaecoo 7 says about China’s electric car ascendancy
Summary
In March, China’s Chery car company sold more Jaecoo 7 SUVs in the UK than any other car, marking a first for a Chinese brand in that market. Chery uses lower costs, large-scale production, and strong government support to compete with European carmakers and plans to expand further in Europe.Key Facts
- The Jaecoo 7 SUV became the bestselling car in the UK in March, selling 10,064 units.
- Chery is a partly state-owned Chinese company that has been the largest Chinese exporter for 23 years.
- Chery aims to combine the qualities of Tesla and Toyota and sold 2.8 million cars last year, including 1.3 million exports.
- Making a Jaecoo 7 costs about $25,000, compared to $33,000 for a similar European SUV, due to lower materials and labour costs in China.
- China’s government provides broad support to its car industry, including grants for robotics, artificial intelligence, and factory building.
- Chery shares many parts and designs across different models, simplifying production and lowering costs.
- European carmakers also receive aid but at a smaller scale compared to the comprehensive subsidies in China.
- Chery is expanding sales in Europe with various brands in countries like the UK, Spain, and Italy.
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