The Russian office of Chery denied the departure of the brand from the Russian Federation

The car brand Chery does not intend to leave the Russian market. This was reported to Izvestia on September 17 at the Russian office of the Chinese automaker.

"The Chery brand is not leaving the Russian market — there are no such plans," the press service of the Russian office of Chery said, commenting on reports of the brand's alleged departure from the Russian Federation.

Earlier in the day, the Nikkei newspaper reported that Chery Automobile had announced its withdrawal from the Russian market by 2027 in documents for the Hong Kong Stock Exchange. The decision is related to the concern's desire to list on the Hong Kong Stock Exchange in order to attract up to 9.1 billion Hong Kong dollars ($1.2 billion) and protect itself from possible sanctions when doing business in other markets.

Russia is the largest foreign market for Chery. In 2024, Russia accounted for 25.5% of the group's total revenue.

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Prior to this, the Chinese portal Autohome had already reported that the Chery Automobile concern, preparing for an initial public offering on the Hong Kong Stock Exchange, was reducing its activities in Russia in order to reduce the risk of sanctions. It is indicated that for this reason, by the end of 2024, the company has already ceased operations in the markets of Cuba and Iran.

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