Chinese SUV maker Jetour eyes overseas growth

Chinese sport-utility vehicle manufacturer Jetour has set an ambitious target to more than triple its global sales to 2 million vehicles by 2030, as it accelerates its push into international markets.

The company expects at least 50% of total sales to come from overseas markets, reflecting a broader trend of Chinese automakers expanding aggressively beyond domestic borders, News.Az reports, citing Reuters.

Jetour International President Ke Chuandeng said the company is shifting its focus toward global growth while continuing to compete in China’s highly competitive auto market.

“We are more focused on the international market. The international market will provide more opportunity,” he said.

Jetour, which is part of the Chery Automobile group, sold around 620,000 vehicles last year, with roughly 40% coming from outside China.

The brand recently launched operations in Brazil and Poland and plans to enter Australia and additional European markets before the end of the year.

China remains the world’s largest car market, but slowing demand and intense price competition have pushed many automakers to seek growth abroad.

Jetour’s strategy includes launching two to three new electric vehicle models annually in China as it builds out its electrified lineup, including its first EV model, the TX.

Executives say the company will benefit from economies of scale within the Chery group, giving it an advantage over smaller brands in a crowded market where some competitors may struggle to survive.

As competition intensifies, Jetour is positioning itself as a global challenger in the rapidly evolving automotive industry, with a strong focus on SUVs and electric mobility.

News.Az 

By Aysel Mammadzada