Chery is about to enter Oman, another market in the Middle East

Business Thursday 16/March/2023 10:30 AM
By: Times News Service
Chery is about to enter Oman, another market in the Middle East

After successively entering the markets of Saudi Arabia, Kuwait, Qatar and Iraq, Chery has once again embraced a new market in the Middle East - Oman.

Oman, which guards the "world's chokehold" - the Strait of Hormuz, will serve as an important part of Chery's continuous implementation of the "Gulf Strategy" to accelerate the globalization process.

Since the establishment in 1997, Chery Automobile Co., Ltd. has formed four major industries: Chery Group, Chery Automobile, Chery International and Chery Product, as well as 7 core business sectors, including automobile, auto parts, modern services, finance, intelligent network, shipping and real estate, thus covering a diversified development direction of the whole industrial chain of Chery.

As the core industry of Chery Group, the automobile industry has laid out two major sections of passenger vehicle and commercial vehicle, which has formed a comprehensive brand competition pattern from "entry level" to "luxury level" so far. As the first Chinese automobile brand to embark on the journey of globalization, Chery has set up 5 R&D centers and organized a technical R&D team of more than 7000 talents who came from over 10 different countries, including those executives served for renowned auto enterprises such as Jaguar Land Rover, GM, Ford and Hyundai. Thanks to years of technological accumulation, with 14,000+ authorized patents, Chery has become the first company in China which master core technologies of automobiles through independent research and development.

Based on technological innovation, the PRO series products of Chery sell well in more than 80 countries and regions around the world, facilitating Chery's global vehicle ownership to exceed 11 million sets. In particular, TIGGO 7 PRO and TIGGO 8 PRO have won repeatedly the award of "Model of the Year" and become the product benchmark for the SUV market segment. As a result, Chery has ranked first among Chinese brands in terms of the export sales volume of passenger vehicles for 20 consecutive years, with cumulative overseas sales volume exceeding 2.35 million sets, and it set a new record in the overseas sales volume of 450,000 sets in 2022.

Oman is located at the southeastern tip of the Arabian Peninsula, bordering Saudi Arabia, the UAE and Yemen, and guarding the Strait of Hormuz. With its abundant oil resources and unique geographical location, Oman has one of the highest GDP per capita in the world. Like other countries in the Middle East, the good economic environment offers the support of purchasing power for automobile consumption. Following its entry into Oman, Chery will bring high-quality travel experience to local users, and the PRO series products are expected to take the lead in injecting new vitality into the local automotive market.