China’s Chery Auto Bets on PH as Crucial Market for New Energy Vehicles
From left to right: Chery International President ZHANG Guibin, VC Tani, Chery Automobile Co. Ltd. Chairman & CEO YIN Tongyue, CG Ignacio, Ms. Sun, and Cherry International VP Mr. ZHU Shaodong. (Shanghai PCG photo)
WUHU, ANHUI PROVINCE, 11 May 2023 – Chery, China’s top auto exporter for two decades running, regards the Philippines as a crucial and strategic market in Southeast Asia.
The Wuhu-based automobile company’s confidence in the Philippines is buoyed by the country’s strong and sustained economic growth, rising incomes including among younger Filipino consumers, and policy support for electric and new energy vehicles.
Chery executives conveyed their optimism at their meeting with Consul General in Shanghai Josel F. Ignacio and Philippine and Trade and Investment Center (PTIC)-Shanghai Head (Commercial Vice Consul) Mario C. Tani, assisted by PTIC local staff Ms. Sun Qian.
The Philippine officials visited the Chery Automobile Co. Ltd.’s headquarters in Wuhu, Anhui Province on 21-22 April 2023. Apart from discussions on the company’s Philippine business plans and, critically, on its roadmap for establishing offshore assembly and R&D facilities. The talks were part of a larger effort to gain insights into Chinese enterprises’ views of the Philippine market, business environment, regulatory and incentives regime, and other key feedback.
Chery executives look positively at the Philippines’ enactment of legislation to encourage the shift to electric vehicles, by way of Republic Act 11697, or the Electric Vehicle Industry Development Act (EVIDA).
While in Wuhu, Consul General Ignacio and Commercial Vice Consul Tani had the opportunity to meet and engage visiting Philippine auto dealers, distributors as well as auto industry writers on developments in the sector.
“Auto manufacturing and assembly have been important contributors to the Philippine economy and to job generation for several decades. These insights will inform the Philippine country team in Shanghai’s economic diplomacy and recommendations to our policy makers”, said Consul General Ignacio.
Chery, which first entered the Philippine market in 2019, has seen a steady increase in sales. It took part in the Manila International Auto Show (MIAS) on 13-16 April, where several other Chinese auto brands participated. END
CG Ignacio and VC Tani confer with representatives of Chery’s PH distributors and dealers while in Wuhu. (Shanghai PCG photo)
For more information, visit http://shanghaipcg.dfa.gov.ph/.