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in response to rumors of building a factory in the uk, chery told the first financial reporter: "we are still only studying the matter of production in the uk."

recently, some media reported that chery is considering the possibility of producing cars in the uk, and it is only a matter of time before a decision is made. in addition, chery is also in talks with italy. chery will consider multiple factors such as the market, talents, and supply chain before making a final decision. there are also reports that chery plans to build a factory in the uk by 2030.

at present, the overseas market has become an important part of chery group's sales. in 2023, chery group's annual sales will be 1.88 million vehicles, of which 937,000 will be exported. from january to august this year, chery group's exports continued to maintain rapid growth, with exports of 720,300 vehicles, up 25.2% year-on-year, accounting for 47.8% of the group's overall sales.

in terms of overseas production layout, on april 19 this year, chery signed an agreement with spanish automobile company ebro-ev motors to establish a joint venture in barcelona, ​​spain to produce new electric vehicles with a total investment of approximately 400 million euros. the production base is located at the former nissan factory.

at present, going overseas has become a common choice for many chinese automakers. compared with the inward-looking domestic market, the overseas auto market is currently not fully competitive and can provide companies with relatively better profit returns. at the same time, with the gradual increase in overseas sales, many automakers have recently announced that they will build factories or produce overseas, among which southeast asia and europe have become popular choices. on the other hand, many countries and regions have announced additional tariffs on chinese-made electric vehicles, and localized production can reduce the risks brought by tariff barriers.

in july last year, saic group announced that it would build a factory in europe; in october last year, byd announced that it would build a factory in hungary; in february this year, gac aion's thailand factory started construction; in march this year, nezha auto's factory in thailand began large-scale production; leapmotor is conducting production debugging at the european factory of its shareholder stellantis group, in order to achieve localized production in the future.

in addition, chinese auto parts companies have also begun to accelerate their overseas layout. chinese suppliers such as catl, guoxuan high-tech, and baolong technology have all built factories in europe and started to receive orders from local european automakers.

kaiyuan securities' research report believes that looking back at the overseas development of chinese auto companies, most of them have gone through the process from direct export of products to the establishment of localized production, sales, r&d, and supply chain systems. direct export of products can quickly enter the target market in the early stages of development, while the establishment of a localized supply chain system can better understand the target market, bypass barriers such as tariffs, and reduce transportation costs.