“To drive technological innovations in the automotive industry, Chery hopes to be the first assembler to power electric cars with Gotion’s solid-state batteries,” he said.
His statement added to evidence that Chery is focusing on battery technology as a driver for the growth of its EV segment. The carmaker, based in Wuhu, Anhui, is targeting annual sales of 1 million EVs, Yin said.
Solid-state batteries are deemed to be a better option for EVs than batteries based on liquid electrolytes – including sodium-ion batteries and current lithium-ion and lithium-polymer batteries – because they are safer, more reliable and more efficient. The technology promises longer driving range, but requires higher development and production costs.
Battery costs represent as much as 40 per cent of the cost of an EV.
In the first four months of this year, Chery sold 711,653 vehicles, up 55.7 per cent from the same period in 2023. Sales of plug-in hybrid and pure electric vehicles in that period jumped 165 per cent year on year to 32,995, but still accounted for less than 5 per cent of the total.
Chery delivered 1.88 million vehicles to customers around the globe in 2023, up 52.6 per cent on year. Sales outside the mainland grew 101 per cent, topping 937,000 units and accounting for 49.8 per cent of total output. Chery did not reveal 2023 EV sales figures.
China’s vehicle exports, including buses and lorries, jumped 58 per cent year on year to 4.91 million units in 2023, surpassing Japan as the world’s largest vehicle exporter.