Chery says slow-moving luxury brands give Chinese rivals a chance

Key points

• Chery's president Zhang Guibing believes established luxury automakers' sluggish adoption of advanced technologies presents an opening for Chinese competitors. The company plans to introduce three premium brands to Australia by 2027, including Lepas, Exlantix, and Luxeed, offering electric and hybrid vehicles.
• Zhang suggests that customers increasingly prefer cutting-edge technologies over traditional internal combustion engines. Existing Chinese premium brands like Zeekr and Denza have already gained market share in Australia, with September sales figures showing strong performance.
• Meanwhile, traditional luxury brands are also introducing new electric technologies to stay competitive.