CHERY GROUP ENTERS THE FORTUNE GLOBAL 500 FOR THE FIRST TIME, RANKING 385TH

• On August 5, 2024, Chery Holding Group Co., Ltd. made its inaugural appearance on the Fortune Global 500 list, securing the 385th position with a revenue of $39.0917 billion.

• Chery Group serves 14.2 million users worldwide and operates in over 80 countries and regions.

• In the first half of 2024, Chery Group reached a historic milestone, exceeding 1.1 million vehicle sales - a remarkable 48.4% year-on-year growth.

Chery Holding Group Co., Ltd. has made its debut on the 2024 Fortune Global 500 list, ranking 385th with an impressive revenue of USD 39.0917 billion. This achievement marks a significant milestone for China’s automotive industry. Chery’s strong presence and potential on the global stage as China’s leading automotive exporter.

The Fortune Global 500 list is one of the most prestigious and authoritative rankings for assessing the strength of large global companies. It provides insights into the rankings of major corporations from different countries and evaluates changes in operational quality, such as return on sales, return on equity, and total factor productivity.

This year, the total revenue of companies on the Fortune Global 500 list is approximately USD 41 trillion, a slight increase of 0.1% from the previous year, with the minimum revenue threshold for entry being USD 32.1 billion. China has 133 companies on the list, with a combined revenue of USD 11 trillion in 2023.

Founded in 1997, Chery represents one of China’s leading independent automotive brands and has thrived during the country’s rapid automotive development and significant transformation periods. Today, Chery boasts 14.2 million global users, operates in over 80 countries and regions, and has become one of the most internationalised Chinese automotive brands on the Fortune Global 500 list.

Chery’s journey towards sustainable development is characterised by a long-term vision and resilience through economic cycles.

Currently, Chery is on a high-speed trajectory of quality growth. From 2021 to 2023, the group’s annual sales surged from 962,000 to 1.881 million vehicles, nearly doubling in just three years.To date, Chery has exported a cumulative total of 3.9 mil vehicles, securing its position as the leading Chinese brand in passenger car exports for 21 consecutive years.

In 2023, one in every three Chinese passenger cars exported overseas was a Chery. In the first half of 2024, Chery’s sales exceeded 1.1 million vehicles, marking a 48.4% year-on-year increase and setting a new historical record. Remarkably, Chery is the only company in the industry to achieve growth in both new energy and fuel vehicles, as well as in both domestic and international markets.

Chery’s globalisation journey has progressed from merely exporting cars to earning user trust and ultimately strengthening its brand. By embracing the global strategy of ‘Being in somewhere, For somewhere’. Chery aims to expand its market share while becoming a valuable contributor and exemplary corporate citizen in global markets. Chery has been recognised five times among China’s Top 20 Best Overseas Image Enterprises, underscoring its successful global strategy and brand image.

With its recent inclusion in the Fortune Global 500 as a new milestone, Chery is set to deepen its globalisation strategy through ‘Brand Upward, Market Outward, Technology Forward, and Industry Toward the Entire Value Chain’, striving to build a world-class brand.