连续七个月出口破10万辆、新能源销量“四连涨”，技术奇瑞不再“客气”

Core Insights - Chery Group has achieved significant sales milestones, exporting 136,700 vehicles in November 2025, marking the seventh consecutive month of exports exceeding 100,000 units, with an average of one vehicle exported every 25 seconds [1][4] - The company is shifting its strategic focus from merely selling cars globally to becoming a "global value creator," expanding its R&D, manufacturing, and management capabilities internationally [1] - Chery's dual strategy of "new energy + new fuel" has driven substantial growth, with total sales reaching 272,600 vehicles in November, including 116,800 new energy vehicles, a 50.1% year-on-year increase [2][3] Sales Performance - In the first 11 months of the year, Chery's cumulative sales reached 2,561,400 vehicles, a year-on-year increase of 11.1%, with new energy vehicle sales hitting 814,700 units, a 69.4% increase [2][4] - The Chery brand alone sold over 1.54 million vehicles, while the Jetour brand sold 574,000 units, making it the only Chinese brand to exceed 2 million cumulative sales in seven years [2] Global Expansion - Chery's global strategy is evolving from "product output" to "brand and ecosystem export," with a focus on localizing production and establishing a strong international presence [6][7] - The company has established 16 production bases and thousands of dealerships worldwide, creating local jobs and contributing to local economies [6] Technological Advancements - Chery has made significant investments in R&D, with expenditures projected to reach 9.243 billion yuan by 2024, reflecting a commitment to innovation and technology development [10] - The company has developed industry-leading technologies, including a hybrid engine with a thermal efficiency of over 48% and a solid-state battery with a density of 600Wh/kg [8][9] Market Position and Future Outlook - Chery's strong performance has attracted positive attention from capital markets, with several institutions issuing "buy" ratings based on its growth potential in both export and new energy sectors [11][12] - The company is well-positioned to leverage its early advantages in export markets and technological partnerships to achieve sustained growth [12]