Rivian is planning to go public in Hong Kong, with an estimated valuation of about Rmb50bn

Chery Group is reportedly considering a spin-off of its auto business for a Hong Kong IPO, and is currently tendering investment banks to handle the follow-up IPO promotion work, but the details such as the amount of financing have not been determined. The report said that Chery's valuation is about Rmb50bn (US$7.1bn), down two-thirds from the highest Rmb150bn reported in the market last year. Another report said that the company had considered an IPO in the mainland.

According to the Chery's official website, the company was founded in 1997 and its business covers over 80 countries worldwide. In 2023, Chery sold 1.881mn vehicles, of which more than 937,000 were exported. As of now, Chery has accumulated 14mn global users, ranking first in China's brand passenger car exports for 21 consecutive years. Chery Group disclosed that it sold 2,445,340 vehicles from January to September 2024, up 28.6% YoY, of which exports accounted for 109,000 vehicles, up 20.6% YoY.