Chery's Qi Shilong: We do not want to engage in simple price competition; domestic new energy business profitability gap expected to be closed by 2027

When discussing the break-even timeline for the domestic new energy vehicle business, Qi Shilong, Executive Vice President of Chery Automobile Co., Ltd., stated that Chery is adjusting its product structure and does not wish to engage in simple price competition; instead, it aims to rely on the introduction of next-generation technologies to make products more compelling. Second, the company hopes to move some high-end brands upward, such as Luxeed (Zhijie); although the products are well made, the overall scale effect has not yet truly ramped up, and the scale needs to be gradually increased to offset substantial R&D investment. He revealed that from the perspective of scale effect, it is expected that around 2027, or in the second half of 2027, the profitability shortfall in the domestic new energy vehicle business can be addressed. Operating quality must be resolved from the perspectives of business structure, cost structure, and technology system, and fundamentally it still needs to rely on technology-driven improvement of user satisfactionthis is the most core aspect.