36Kr Going Global · Industry | The First Half of the Year for Automobile Manufacturers Going Global: Building Factories, Localization, and Listing in Hong Kong

In the first half of 2025, some new Chinese stories are unfolding in the global automotive market.

Chery and Seres have successively submitted applications for listing on the Hong Kong Stock Exchange; BYD's export volume has jumped to the second place among Chinese automakers, and its first car rolled off the production line at the Brazilian factory; Great Wall pickups have sold nearly 100,000 units globally; XPeng's first batch of right - hand drive vehicles are being shipped to Thailand; Leapmotor has quickly opened up the European market through cooperation with Stellantis.

Recently, the latest data released by the China Association of Automobile Manufacturers (hereinafter referred to as "CAAM") shows that in the first half of the year, China's automobile exports reached 3.083 million units, a year - on - year increase of 10.4%. While traditional overseas multinational automakers are scaling back and returning to their core markets, Chinese companies are accelerating to fill the gaps they left behind.

We have observed that from product exports to capital exports, and from selling cars to building factories, the globalization of Chinese automakers has entered a new stage. Therefore, 36Kr Global hopes to present the common routes and unique strategies of Chinese automakers' overseas expansion in the first half of 2025 to readers by sorting out the semi - annual reports, prospectuses and public information of representative automakers, providing a clear industry reference.

Generally speaking, in common - automakers are no longer satisfied with simple sales figures. Instead, they are deeply embedding capital, production capacity and supply chains into the global market through methods such as raising funds in Hong Kong, building overseas factories and establishing joint ventures.

In terms of market entry and product - brand strategies, each automaker has its own characteristics. BYD is making efforts in both Europe and Latin America; Great Wall is defining its global territory with pickups; Geely is concentrating resources through brand integration to break into the market; while new forces such as XPeng, Leapmotor and Seres are either leveraging giants or relying on capital to find their positions at the new globalization table with more flexible postures.

Chery: Ranking First and Heading for the Hong Kong Stock Exchange

According to CAAM data, in the first half of 2025, Chery Automobile ranked first in export volume, achieving 548,000 units in exports, accounting for 17.8% of the total export volume.

Chery is one of the earliest Chinese automakers to go global. As early as 2002, it started its overseas layout with an order of 10 cars from Syria. According to Frost & Sullivan, since 2003, Chery has ranked first in the export volume of Chinese self - owned brand passenger cars for 22 consecutive years. As of September 2024, Chery's passenger cars have been sold to more than 100 countries and regions, with cumulative exports exceeding 5 million units.

In February this year, Chery Automobile submitted a prospectus to the Hong Kong Stock Exchange. Financial data shows that in 2022, Chery's sales revenue from overseas passenger car markets was about 29.1 billion yuan, accounting for 35.3% of the total revenue; by 2024, the proportion of its overseas revenue in the total revenue was close to 50%.

Chery's globalization shows a practical and gradual characteristic. According to the prospectus, it has adopted a differentiated multi - brand entry strategy in overseas markets: in emerging markets, it tends to directly introduce and promote self - owned brands with localized designs. In mature markets with a strong automotive industry foundation, it chooses to establish joint ventures with local automotive OEMs as a channel to penetrate the market.

Chery's product launch in Poland in June. Source: Chery official website

According to Frost & Sullivan, in the nine months up to September 2024, Chery had 1,075 dealers and 2,541 distribution outlets globally (excluding China), forming a sales network covering Asia, Europe, Africa, Oceania and the Americas. In the European, South American, Middle Eastern and North African markets, Chery Automobile ranked first among Chinese self - owned brand passenger car companies in terms of sales volume. Among them, the Tiggo 7 was the single model with the largest export volume among Chinese self - owned brands during the same period.

Localization of production capacity is a major pillar of Chery's global strategy. It started to layout overseas knockdown assembly plants a decade ago. According to Yiche.com, in February this year, Chery Automobile announced the establishment of a Chery Smart Car Industrial Park in Selangor, Malaysia. The initial production capacity after completion will be 100,000 units per year.

If the listing on the Hong Kong Stock Exchange is successful, Chery will have more funds to invest in its global layout. The possible global strategic measures mentioned in its prospectus after successful fundraising include:

Further expanding the global sales and service network, including entering the right - hand drive vehicle market and the European market, and actively exploring markets such as North America, Japan and South Korea;

Strengthening R & D capabilities in technologically advanced regions such as Europe and North America, attracting local high - end talents, and strengthening cooperation with local scientific research institutions for joint R & D and sharing of cutting - edge technologies;

Continuing to look for suitable regions globally to build production bases and expanding global production capacity;

Adopting flexible sales strategies and developing products that meet local customer needs, and improving the competitiveness and adaptability of products in combination with market development trends, the popularization of new energy infrastructure and local laws and regulations.

BYD: Jumping to the Second Place in Export Volume

According to CAAM data, in the first half of this year, BYD's exports increased 1.3 times year - on - year, reaching 470,000 units.

The European market is one of the most eye - catching regions for BYD's performance in the first half of the year. According to data from research institution JATO Dynamics, in April, BYD surpassed Tesla in pure - electric vehicle sales in the European market for the first time, with 7,231 registrations; data from the European Automobile Manufacturers Association shows that BYD's total sales in the five major core European markets (the UK, Germany, France, Italy and Spain) have exceeded 10,000 units. Especially in the Spanish market, BYD's monthly sales are three times that of Tesla.

The progress in the European market is not limited to sales. In May, BYD established its European headquarters in Budapest, Hungary, and plans to build a new R & D center. The center will undertake functions such as sales, after - sales, vehicle certification and testing, as well as crucial localized design and function development of models.

BYD's European headquarters building. Source: BYD official website

In Latin America, thousands of miles away, BYD has shown a leading advantage. Taking Brazil as an example, in the first quarter of this year, BYD's sales in Brazil exceeded 20,000 units, becoming the champion in the local new energy vehicle sales. In May this year, BYD jumped to the fourth place in the retail sales ranking of automobile brands in Brazil, with a market share of 9.7%.

The rapid growth in sales is inseparable from the expansion of the product matrix. In addition to the familiar "Ocean" and "Dynasty" series, BYD's newly launched "BYD SHARK" pickup has also become a growth point in the overseas market, with cumulative overseas sales exceeding 26,000 units in the first half of the year.

To support the leap in global sales, BYD is accelerating the construction of a global production and supply chain network. According to BYD's official WeChat account, on July 1st local time, BYD held a ceremony for the first vehicle to roll off the production line at its passenger car factory in Camacari, Bahia, Brazil. The Brazilian factory is also BYD's third overseas passenger car production line after those in Thailand and Uzbekistan.

Great Wall Motor: Selling 30,000 Pickups Overseas

In the wave of Chinese automakers going global, Great Wall Motor is advancing its global layout at a steady pace.

According to the recently released semi - annual performance report for 2025, Great Wall Motor achieved a revenue of 92.37 billion yuan and a net profit attributable to the parent company of 6.34 billion yuan in the first half of the year. Among them, the overseas market has become one of the key driving forces for its performance growth. According to the official production and sales report, its overseas sales in the first half of the year were 198,000 units.

The pickup product line still maintains the leading position in Chinese pickup exports. From January to June this year, Great Wall pickups sold a total of 96,228 units globally, a year - on - year increase of 4.7%; the cumulative overseas sales reached 30,083 units, a year - on - year increase of 24.3%, winning the first place in the export of Chinese pickup brands.

Tank 500 landing in Mexico. Source: Great Wall Motor WeChat official account

From the launch of the first Great Wall pickup Deer in 1996 to the export of Great Wall pickups to the Middle East in 1998, which kicked off the overseas expansion of Chinese automobiles, as one of the earliest Chinese automobile enterprises to enter the overseas market, Great Wall pickups are now available in more than 60 countries on six continents globally.

In terms of models, the 2.4T Great Wall Cannon was successively launched in overseas markets such as Chile, South Africa, Australia and Peru in the first half of the year; the Shanhai Cannon Hi4 - T equipped with hybrid technology received positive feedback after entering the Australian market; at the same time, models such as the Alpine and Lanshan of its high - end brand WEY are also accelerating their internationalization process.

Geely Auto: Using New Energy as the Spear

In the first half of 2025, Geely Automobile Holdings Limited (hereinafter referred to as "Geely Auto") presented a steady overseas expansion report card with a multi - brand approach. Data shows that Geely Auto's overseas export volume reached 184,000 units in the first half of this year, and the performance of new energy models was particularly outstanding.

In the European market, Geely Auto launched the pure - electric SUV model EX5. Previously, Geely Auto Group said that Geely EX5 is mainly targeted at fleet purchasers, and the first batch of vehicles is expected to be delivered to British consumers in the fourth quarter of this year.

In Oceania, Geely Auto has also shown stronger ambition. In March 2025, Geely Auto announced the official launch of Geely International EX5 in Australia and New Zealand. After entering the Australian market, the EX5 model entered the top nine of the local pure - electric vehicle sales list in just 20 days. As of June, the cumulative delivery volume has exceeded 1,000 units. In addition, as of early June, Geely Auto in Australia has completed signing contracts with 30 dealers and opening 26 showrooms, and also plans to expand the dealer network in Australia and New Zealand to 100 in the next three years.

In emerging markets such as Southeast Asia, Latin America and the Middle East, Geely Auto's layout is also accelerating. According to Geely Auto's official WeChat account, in the first half of this year, Geely brand won the first place in the sales of Chinese brand automobiles in countries such as Panama, Paraguay and Croatia; and won the top three in the sales of Chinese brand automobiles in countries such as Saudi Arabia, the United Arab Emirates, Kuwait, the Philippines and Qatar.

Geely EX5 and Monjaro launch in Vietnam. Source: Geely official website

What is more noteworthy is Geely Auto's attempt in the high - end market. According to Zeekr's official WeChat account, currently Zeekr has entered more than 40 countries and regions and has nearly 600 stores globally, becoming the only Chinese luxury automobile brand to achieve deliveries on five continents; among them, Zeekr 009 won the sales championship in the MPV segment in international mainstream markets such as Hong Kong, China and Thailand. According to China Auto Daily, the Zeekr brand is further strengthening its presence in the Hong Kong and Macau markets. Zeekr Energy has joined hands with Easy Charge Station (Hong Kong) to access more than 170 charging stations and more than 2,300 terminals in the local area.

To support the expansion of global business, Geely's production layout is also being gradually deepened. Its factories in Egypt and Indonesia have been put into operation one after another, marking that the group's "local manufacturing" capabilities in key emerging markets have been further consolidated.

XPeng Motors: Focusing on Southeast Asia and Europe

As one of the representatives of Chinese new - energy vehicle startups, XPeng Motors is accelerating its globalization journey. According to public information, in the first half of 2025, XPeng Motors' overseas sales reached about 19,000 units, and its business has expanded to 46 countries and regions globally.

Southeast Asia is the key focus of XPeng Motors this year. In February this year, XPeng Motors shipped the first batch of 300 right - hand drive X9s to the global market. These vehicles will mainly be shipped to Southeast Asian markets represented by Thailand. At an auto show in July, XPeng Motors officially announced that Indonesia has become the first country for XPeng Motors to implement local production globally, and the first locally produced XPeng X9 in Indonesia was delivered to an Indonesian customer.

Delivery of the first locally produced XPeng X9 in Indonesia. Source: XPeng Motors official website