Core Insights - Chery Automobile has achieved a significant milestone in the electric vehicle market, with monthly sales of new energy vehicles surpassing 110,000 units for the first time in October, following previous months of over 90,000 and 100,000 units [1][5] - The company has transitioned from a "single combat" approach to a "matrix development" strategy, with multiple successful models contributing to its sales growth [3][6] - Chery's strong performance is attributed to a robust lineup of popular models, including the Fengyun A9L, Fengyun T11, and Zongheng G700, which have collectively driven sales [6][5] Sales Performance - The Fengyun A9L has maintained sales of over 10,000 units for three consecutive months, while the Fengyun T11 received 38,000 orders within 24 hours of its launch [3][5] - The iCAR brand sold 12,393 units in October, totaling 79,023 units from January to October, while the high-end brand Zhijie sold 12,810 units in October, with a cumulative total of 70,587 units [5] - The Zhijie R7 has surpassed 100,000 units in cumulative deliveries since its launch [5] Technological Advancements - Chery has a long history of investment in hybrid technology, starting its research in 2001, and plans to launch 39 hybrid models by 2025 [6][7] - The company is advancing in battery technology, with the introduction of the Rhino S solid-state battery module, which boasts an energy density of 600 Wh/kg and a range of 1,200-1,300 kilometers [6] - Chery's commitment to safety is evident in the design of the Fengyun T11, which features a high-strength steel-aluminum alloy body and exceeds national safety standards [8][9] Global Expansion - Chery has exported 1.06 million vehicles from January to October, marking a 12.9% year-on-year increase, and has become the fastest Chinese automotive group to reach this milestone [13] - In the European market, Chery sold over 170,000 vehicles in the first ten months, reflecting a 2.4-fold increase year-on-year, and has established localized production [13] - The company's global strategy emphasizes local market adaptation, supported by a diverse team of over 1,000 designers across ten design centers worldwide [9][11] Future Outlook - The launch of the Fengyun T11 has generated ongoing orders, indicating strong market interest and potential for continued growth [14] - Chery's long-term strategy focuses on building systemic capabilities rather than seeking immediate recognition, positioning the company for sustained value creation in the electric vehicle sector [14]