A Chery store has recently opened in Jeddah, Saudi Arabia's second-largest city. Since its entry into Saudi Arabia, Chery has spared no efforts to develop the local market. The opening of the new store marks that Chery has reached a new level in Saudi Arabia and has further expanded Chery's market coverage in Saudi Arabia. In early 2016, Chery forged into Saudi Arabia by joining hands with renowned Saudi Arabian automobile dealer Al Yemni, and launched a number of products including Tiggo 3, Tiggo 5, Arrizo 5 and Arrizo 7 which have been favored by local consumers.
As a Chinese leading automobile brand, as well as a Chinese automobile manufacturer engaged in the R&D, trial manufacture, production and sales of vehicles, powertrains and key automotive parts, Chery manufactures passenger vehicles, commercial vehicles and mini cars. Chery has been the Chinese sales champion for nine consecutive years. Chery forged a partnership with Jaguar and Land Rover through its tremendous strength, the two sides established a joint venture in China, and Chery thus marched into the luxury car market and absorbed the experience of luxury car building. Besides, Chery has achieved fruitful results in global markets, exported products to more than 80 countries and regions, established 10 production bases, as well as nearly 1,500 distribution networks and service networks worldwide, registered cumulative exports of more than 1.4 million units, and been China's largest passenger vehicle exporter for 15 consecutive years.
Since its establishment, Chery has made persistent and independent innovation, gradually established an integrated technology and product R&D system, and built four product platforms (A3X, M1X, T1X and M3X) targeting A0-segment cars, A-segment cars, compact SUVs and medium & large vehicles. Chery's products have covered all segments abroad, creating two product groups: Arrizo car series and Tiggo SUV series. As Chery's first global strategic model, Arrizo 5 was named "the Best A-segment Car in Iran" by Iran's largest automobile media-Donyayekhodo. In China, Arrizo 5 has registered cumulative sales of more than 250,000 units as of December 2017, setting a record in the Chinese A segment and registering cumulative sales of more than 250,000 units at the soonest in China.
In terms of R&D, Chery has established "Technology Chery" as its brand strategy, launched "iAuto",a high-tech, standardized and forward-looking core technology platform created with independent technologies accumulated over the years and in accordance with world leading standards. The iAuto core technology platform 2.0 includes Cherysma 2.0, Ipower 2.0 and Cloudrive 2.0. Cherysma 2.0 features lightweight technology. Chery has world leading carbon fiber technology similar to the technologies of aircraft manufacturing and high-speed train manufacturing. 60 percent lighter than traditional cars, with a material utilization rate of more than 90 percent, Cherysma-based cars minimize energy consumption from body weight while ensuring high safety. Ipower 2.0
features traditional ACTECO technologies (TGDI, CVT, DCT, etc.) and new energy technologies (PHEV, EV), and the application of new technologies like ISS makes engines more efficient and energy-conserving. Cloudrive 2.0 features intelligent technologies, and introduces functions like wireless internet, new voice interaction and cloud service, to make driving more intelligent, networked, individualized and convenient.
The Middle East has always been a strategic overseas market of Chery and Saudi Arabia is an important part of Chery's efforts in developing the Middle East market. According to Chery's new internationalization strategy, Chery will continue to develop steadily and improve product quality and technology, fully trust and rely on partners, fully respect local market and consumer needs, continue to improve products, services and brands, keep achieving breakthrough in profit, market focus and operation upgrading, and constantly enhance its competitiveness in global markets, thus gradually changing from a Chinese automobile brand into a world-renowned automobile brand.