Yin Tongyue: Chery Rejects Low-End Price Wars, Focuses on Original Innovation and High-Quality Global Growth

Yin Tongyue, Chairman of Chery Automobile and a National People's Congress deputy, stated during the 2026 Two Sessions that Chery will adhere to original innovation—“from 0 to 1”—and refrain from engaging in low-level price wars. He emphasized that Chery will focus on four key initiatives moving forward: First, significantly increase investment in technological innovation, with a 2026 R&D budget exceeding RMB 32 billion, targeting cutting-edge technologies such as solid-state batteries, high-compute chips, Robotaxi, green energy, and AI. Second, advance globalization with a long-term perspective, transitioning from merely “going global” to truly “integrating locally.” Third, leverage AI to deepen systemic development and deliver services across multiple industries. Fourth, firmly oppose industry-wide “involution” (excessive internal competition), pursuing high-quality growth through advancements in technology, management, and product quality. Additionally, Chery is intensifying its multi-brand strategy to elevate brand positioning and accelerate its global capital market presence. Currently, overseas revenue accounts for nearly half of the company’s total revenue.