Chery Automobile, the Chinese automotive group now manufacturing vehicles in Barcelona through its partnership with Ebro Motors Group, reported that international revenue had overtaken domestic revenue for the first time. Overseas sales and exports now carry more weight in its business, alongside regional production.
Figures cited by elespanol motor show that Chery closed the first half of the year with net profit of 9.016 billion yuan (€1.15 billion), down 9% from the same period a year earlier. Net attributable profit fell 11.7% to 8.567 billion yuan (€1.09 billion). Foreign-exchange losses contributed to the decline. Increased research and development investment and higher administrative costs also weighed on earnings, as did a heavier tax burden and lower contributions from joint ventures and affiliates. Gross profit increased, and Chery said overseas vehicle sales carried higher gross margins than domestic sales.
Despite the earnings pressure, overall revenue held steady at 143.28 billion yuan (€18.23 billion), up 1.2% year on year. Overseas revenue reached 98.97 billion yuan (€12.59 billion), a 51% increase, while revenue from the Chinese market, including Hong Kong and Macao as well as Taiwan, fell 41.7% to 44.31 billion yuan (€5.64 billion). Overseas customers accounted for 69.1% of revenue, up from 46.3% a year earlier, or roughly 70% when rounded. Chery’s chairman has described the wider industry squeeze bluntly, saying that “around 90 per cent of Chinese automakers lose money.” An AlixPartners study found that only three of 30 Chinese new-energy-focused manufacturers were profitable in 2025.
Vehicle sales made up 90% of Chery’s revenue, totaling 128.8 billion yuan (€16.39 billion), broadly matching the previous year. The mix shifted sharply: combustion-engine models generated 69.51 billion yuan (€8.84 billion), down 24.8%, while new-energy vehicles brought in 59.28 billion yuan (€7.54 billion), up 63.8%. New-energy vehicles accounted for 46% of the company’s vehicle-sales revenue, reflecting the wider move toward electrification. The same trend is evident in the growing influence of Chinese battery manufacturers, as recent industry analysis has noted.
Chery’s components business grew 7% to 10.04 billion yuan (€1.28 billion), while other income streams rose 35.5% to 4.44 billion yuan (€565 million). Its worldwide workforce reached 71,580 employees, an increase of more than 13,000 in a year, and personnel costs climbed nearly 20% to 9.08 billion yuan (€1.16 billion). A separate estimate by Spain’s Expansión put first-half profit at about $600 per vehicle sold, compared with roughly $400 a year earlier. That per-vehicle figure is an analytical estimate, separate from the company’s reported consolidated profit.
The Barcelona project gives Chery a European production base through its partnership with Spanish brand Ebro at the former Nissan factory in the city’s Zona Franca. The operation revives an existing industrial site rather than building a greenfield plant. Before Nissan’s withdrawal, the facility had produced more than 200,000 vehicles a year. Production began with the Omoda 5 alongside Ebro-branded vehicles, pairing Chery’s products and technology with Ebro’s local brand and dealer network.
Ebro’s commercial revival is adding scale to the industrial partnership. The company reported 30,478 Spanish registrations after about 20 months of renewed activity. That total included 12,460 registrations in 2025 and 17,992 between January and August 2026, up 208% year on year. In August alone, it registered 1,542 vehicles, a 105.3% annual increase. Those registrations represented 2.25% of the total market and 3.35% of private-customer registrations. Ebro said the results “confirm the favorable reception of its project in the Spanish market,” crediting Spanish production and a multi-energy SUV range, alongside an expanding dealer network.
The Barcelona plant’s reported product roadmap reaches beyond current SUV assembly: Ebro has announced a small electric vehicle for the end of 2026, while the electric Jaecoo 5 is expected in the first half of 2027. The plans point to a strategy that pairs exports from China with local assembly and market-facing brands. Chery Group reported global sales of 2,806,393 vehicles in 2025, up 7.8%, including 1,344,020 exports, up 17.4%. The company said it operated in more than 130 countries and regions and had cumulative exports exceeding 5.85 million vehicles. Barcelona is part of a much broader international expansion, not the sole driver of overseas growth.
Chery’s expansion contrasts with restructuring at major European automakers, particularly in Germany. Since mid-2025, the European automotive sector has announced plans to cut nearly 147,000 jobs by 2035, with Volkswagen and Porsche, alongside Audi and BMW, accounting for most of the reductions. The cuts have been linked largely to declining sales in China, the world’s largest car market, and intensifying competition from Chinese brands such as Chery. As the company navigates a challenging domestic environment, growth overseas and the development of regional production and brand networks will shape its position in the global automotive industry.
