Chery's Luxeed Brand to Receive Independent Vehicle Manufacturing License

Chinese automaker Chery Automobile is poised to receive official authorization for independent vehicle manufacturing under its Luxeed brand. According to industry disclosures, China's Ministry of Industry and Information Technology (MIIT) has published a list of proposed new vehicle manufacturers, including Anhui Luxeed New Energy Vehicle Co., Ltd.

The manufacturing operations for the Luxeed brand are expected to be directly transferred from Chery's current production facility. Chery Automobile has requested the cancellation of its existing production site's registration, with Luxeed's newly approved address being identical, confirming the transfer of production capacity and licensing.

Internal sources at Luxeed have confirmed to the press that the company will officially gain its independent manufacturing license upon the conclusion of the public review period. These sources also affirmed plans for a future, independent stock market listing of the Luxeed brand.

The Luxeed brand has experienced a significant sales downturn. While sales grew by 56% last year, the first five months of this year saw a 67.5% decrease, achieving only 4.6% of the annual target. Recent monthly sales figures have also shown a declining trend.