Loading...
Loading...
Chinese automakers Geely, Chery and BYD are advancing on multiple fronts as they scale EV and electrified offerings. Geely raised RMB2 billion via two-year medium-term notes to shore up working capital for ongoing EV and mobility investments. Chery’s Jetour brand filed its plug-in hybrid F700 pickup—featuring CATL LFP cells, advanced hybrid architectures and off-road focus—underscoring a push into electrified utility and performance segments. Meanwhile, Canada’s new tariff-quota entry for Chinese EVs has sparked dealer interest in BYD, Geely and Chery distribution, offering a cautious North American foothold even as incumbents and regulators weigh the competitive impact.
China's automakers captured over 15% of Europe's electric vehicle (EV) sales in April 2026, a first, with BYD, Chery and others doubling month-on-month EV deliveries to 38,281 units. Chinese brands are also approaching a 10% share of the overall European car market and have nearly 29% of the plug-in hybrid segment. Rapid gains are driven by lower-priced BEV and PHEV models, competitive electrification and smart features, and aggressive domestic price competition that pushes firms to expand overseas. Chinese manufacturers are localizing production in Europe—building plants and sharing idle Stellantis facilities via partnerships—to cut costs and accelerate market entry, challenging incumbent European automakers.
Canada has opened its market to Chinese electric vehicles (EVs), allowing annual imports of 49,000 units at a 6.1% most-favored-nation tariff, prompting a rush by Canadian dealers to secure distribution rights. Dealers like Michael MacGillivray and broker Farid Ahmad have visited Chinese shows and contacted manufacturers such as BYD, Geely, and Chery, reporting hundreds of inquiries from prospective Canadian partners. Consumers express curiosity and welcome more EV choices amid fuel-price pressures. Canadian industry groups voice concern, and S&P Global Mobility warns the initial 3–5% market cap may be too small to upend incumbents like GM, Ford, Toyota, and Hyundai. The move offers Chinese automakers a foothold in North America while Ottawa applies cautious safeguards.
Geely Automobile has issued RMB 2 billion (¥200 million) in medium-term notes on China’s interbank bond market, labeled “Geely Automobile Holdings Ltd. 2026 First Tranche Medium-Term Notes.” The two-year notes mature on May 9, 2028, unless redeemed earlier or put back by investors; Geely can reset the coupon after the first year and investors may have a put option then. The initial fixed annual rate for year one is 1.55%, determined via centralized bookbuilding, and any adjusted rate remains fixed for the second year. Proceeds will be used within China to bolster working capital at Geely’s affiliate Zhejiang Jirun Automobile Co., Ltd. This financing supports the automaker’s operational liquidity amid ongoing EV and mobility investments.
Chery’s Jetour Zongheng F700 pickup has completed regulatory filing in China as a plug-in hybrid utility vehicle, measuring 5,495 mm long, 2,050 mm wide, 1,985 mm tall with a 3,350 mm wheelbase and optional 275-width tires and 2+2 or 2+3 seating. The F700 pairs a 2.0T engine (155 kW) with CATL LFP battery cells and reports a fuel consumption of 1.39 L/100 km. The model is part of Jetour’s new Zongheng luxury off-road line that includes G700, F700 and G900 and features advanced hybrid systems (Kunpeng CDM-O and CEM-O architectures), high-voltage 800V designs, fast charging, and multi-motor intelligent vector drive aimed at serious off-road and performance capability. It signals Chery’s expansion in electrified pickup/off-road segments.