Chery plans to go public on the Hong Kong Stock Exchange and has already submitted the relevant documents, which contain information of interest to the Russian market. Among other things, the company's managers indicated in their application a gradual curtailment of operations in Russia by 2027, noting this as a step that "demonstrates compliance with sanctions and export controls."
Currently, the Russian market is Chery's largest foreign market. In 2024, 25.5% of the company's revenue came from Russia. Chery has already begun to reduce its presence in Russia, and in April, its subsidiary, which has been in existence since 2005, entered into an agreement with three firms to transfer stocks of passenger cars, warranty obligations, and distribution networks.
At the same time, the Russian press service of Chery denied the automaker's departure from Russia, adding that the Tenet brand will remain in our market, to which all obligations from the parent organization will be transferred.