Chery's Transformation and Yin Tongyue's Calmness Amidst Industry Challenges

During the 2025 China Automotive Forum, Chery Automobile Co., Ltd. Chairman Yin Tongyue humorously described the company as cautious, often following others in both good and bad practices. He reflected on the challenges of developing new technologies while feeling apprehensive about market reception. Chery has faced a tight and competitive automotive industry, especially as the tolerance for error diminishes. Despite this, Yin's self-deprecating remarks indicate a shift in his mindset, suggesting a newfound openness. The Chinese automotive sector is under pressure with predictions that only a few new energy vehicle manufacturers will survive the next decade. Industry leaders have expressed concerns that many brands may cease operations, reflecting a tense climate where every company strives to avoid falling behind. Chery has experienced its share of ups and downs since its founding in 1997, and after a peak in the early 2000s, faced significant challenges post-2011, including declining sales. However, under Yin's leadership, Chery managed to turn its fate around, achieving significant sales growth and establishing a strong presence in international markets. By 2024, Chery's annual sales reached a historic 2.6 million units, marking a 38.4% increase, with exports leading the way. Yin has emphasized quality over quantity, noting that Chery will focus on brand building, innovation, and management transformation moving forward. In 2024, Chery also underwent significant organizational restructuring, forming new business units with a strong emphasis on new energy vehicles. Chery's evolution reflects a broader industry transformation, with the company aiming to balance its traditional fuel vehicle sales with new energy developments. The strategic shifts, including the establishment of independent brands and the integration of new talent from technology sectors, indicate Chery's commitment to long-term growth and sustainability in a rapidly changing marketplace. As the company continues to adapt, it remains grounded in its roots while preparing for future challenges.