The Federal Tax Service of Moscow has initiated the liquidation process of Exeed Cars Rus LLC, a subsidiary of the Russian representative office of Chery. The reason cited was the absence of economic activity: the company had not filed reports for a year and had not conducted transactions on its bank accounts. This decision has raised questions about the future of the premium brand Exeed in Russia.
Previously, a similar procedure affected Omoda Cars Rus LLC, another "daughter" of Chery. The media suggested that Chery itself initiated the liquidation of Omoda, but the company denied this, clarifying that the decision came from the FTS. The lack of activity of legal entities may be related to the restructuring of Chery's business in Russia, where the Exeed and Omoda brands are being replaced by local brands Esteo and Onives.
This transformation may be part of Chery's rebranding strategy. For example, instead of Chery cars, the names Tenet are already being used, and distribution is being transferred to new legal entities, such as Tenet Rus and Onives Rus. This may be related to preparations for an IPO on the Hong Kong Stock Exchange, where Chery seeks to show a reduction in its presence in Russia.
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