By Scott Murdoch SYDNEY (Reuters) -Shares of Chinese car maker Chery Automobile jumped 11.2% as the company started trading on the Hong Kong Stock Exchange on Thursday following its $1.2 billion initial public offering. Chery, best known for its Chery, Jetour and iCAR brands, is tapping investor appetite as it expands in the competitive electric and smart vehicle market. The stock opened at HK$34.2, while the Hang Seng Index was up 0.1%. Chery last week sold 297.4 million shares at HK$30.75 each in the ...

Core Insights - Chery Automobile reported that its sales in the European market exceeded 30,000 vehicles in the first half of the year, representing a nearly 11-fold year-on-year increase [2] - In 2024, Chery will launch the Omoda and Jaecoo brands in seven European markets, with its high-end brand Exlantix debuting in select Nordic countries [2] - The Jetour brand is set to enter the European market in the third quarter of this year, with more new brands and models planned to cater to diverse consumer needs [2] Strategic Developments - Chery has partnered with EVMotors, a traditional car manufacturer in Barcelona, Spain, to establish a joint venture factory, addressing EU tariffs on Chinese electric vehicles and creating numerous job opportunities [2] - The factory is expected to have an annual production capacity of 200,000 vehicles, with plans to increase the proportion of locally produced components to over 50% [2] Recognition and Growth - Chery Automobile ranked 233rd in the 2025 Fortune Global 500 list, climbing 152 positions from the previous year, marking the fastest rise among automotive companies in the ranking [2]