On April 20th, following BYD, another Chinese automotive company making its mark in Europe is Chery Automobile.
On April 19th, local time, Chery Automobile signed an agreement with the Spanish automotive company Ebro-EV Motors to establish a joint venture in Barcelona, Spain, to produce new electric vehicles.
According to the agreement, Chery Automobile will start production of models like the European Mendoza in the third and fourth quarters of this year, with an estimated annual output of 50,000 vehicles by 2027, increasing to 150,000 vehicles by 2029.
Reports from overseas media have revealed some details of the cooperation between Chery and Ebro-EV Motors. It is reported that the total investment in the project is €400 million (approximately ¥3 billion RMB at the current exchange rate), including investments from both partners as well as assistance from the Spanish government and the Catalonia regional government.
It is understood that the cooperation project between Chery and Ebro-EV Motors will revive the former Nissan car plant in the Catalonia region, with one factory producing Chery Omoda brand vehicles and the other factory producing models under the Ebro brand.
Following the agreement with Ebro-EV Motors, the Vice President and General Manager of Chery Automobile International Company stated that Spain will become one of Chery's "major automotive export bases" globally, aiming to export vehicles to other regions in Europe from the Barcelona factory.
Data shows that Spain is the second largest automobile producer in Europe after Germany, with production close to 2.5 million vehicles last year and an estimated production of around 2.3 million vehicles this year.
