SUV maker Jetour to launch European car sales in third quarter

Chinese SUV maker Jetour plans to launch in some European markets in the third quarter and aims to sell cars across much of the continent by 2027, an executive said on Wednesday.

The carmaker now makes combustion-engine and plug-in hybrid models, which would not be subject to EU tariffs on Chinese-made fully electric cars.

When asked if that had influenced Jetour's decision to sell in Europe, Ke Chuandeng said if successful the brand will look into making cars in Europe.

“I don't think it's realistic to always import cars from China,” Ke said.

The Chery unit sold about 560,000 cars last year, and Jetour brand president Ke said sales should hit 800,000 vehicles this year. Ke said Latin America, the Middle East, Russia and Africa accounted for about 35% of its sales, but overseas sales should hit 50% of the total in a few years.

“We believe that in three to five years, the international market will be higher, or at least equal to, our sales in the domestic market,” Ke told Reuters at the Shanghai car show.

Jetour makes a series of urban and off-road SUVs that run from about $10,000 (R185,679) to more than $50,000 (R928,022), and a pickup truck model. The company is launching its first full-electric model, the T0, by the end of 2026.

In Europe, Jetour will join a growing crowd of Chinese carmakers jostling for share in a competitive market, including BYD, Xpeng and Nio. Changan, another major Chinese carmaker, launched sales in Europe last month.

Two other Chery brands, Omoda and Jaecoo, have already launched sales in Europe.