IDG Capital considers buying stake in Chery Automobile's parent company for $976 million

At the end of 2023, Bloomberg reported that IDG Capital was considering buying a stake in Chery Holding Group for $976 million. This move could give IDG Capital access to one of the few major unlisted automakers in China. Chery Group is considering simplifying its equity structure in order to restart its subsidiary Chery Automobile's listing plan in China.