Chery Automobile accelerates expansion of power battery market

Chery Automobile is actively expanding its business in the field of power batteries. According to information from Qiqichacha, on August 9, Chery Automobile established Shijiazhuang Qida Power Battery Technology Co., Ltd. with a registered capital of RMB 20 million and the legal representative is Yuan Yi. The company's main businesses include battery manufacturing, battery sales, and motor vehicle repair and maintenance. Equity penetration information shows that the company is wholly owned by Wuhu Qida Power Battery System Co., Ltd., a subsidiary of Chery Automobile. This marks the second power battery company established by Chery Automobile this year. Prior to this, on April 1, Anhui Qida Power Battery Technology Co., Ltd. was established with a registered capital of RMB 200 million and the legal representative was Qu Guofeng. This company is also wholly owned by Wuhu Qida Power Battery System Co., Ltd.