Net legend Rui Automobile will submit an IPO application in 2024.

　　[car home Information] According to Bloomberg News, IDG Capital is considering buying some shares of Chery Holding Group Co., Ltd. from existing shareholders at a price of RMB 7 billion. Chery Automobile Co., Ltd., a subsidiary of Chery Holding Group Co., Ltd., is planning to submit an initial public offering (IPO) application as soon as 2024, and may seek a valuation of 150 billion yuan. Some media have verified this rumor with Chery Holdings and Chery Automobile, and have not received a response yet.

　　IDG Capital, which was reportedly planning to buy shares in Chery Holding Group, took the lead in developing venture capital business in China since 1993. It is the earliest private equity investment institution rooted in China, focusing on science and technology, advanced manufacturing/new energy, consumption, health and other fields.

　　From January to November this year, Chery Automobile sold a total of 1,665,600 vehicles, up 47.8% year-on-year, exceeding last year’s total. Among them, more than 210,000 cars were sold in November, once again hitting a record high. In the first three quarters of this year, Chery Automobile’s operating income was 213.02 billion yuan, up 47.4% year-on-year, also exceeding last year’s total.

　　At present, Chery Automobile is focusing on the transformation of new energy vehicles. In April this year, Chery disclosed its new energy strategy, and plans to invest more than 100 billion yuan in the next five years for scientific research and development of Sanpower, intelligent driving and ecology to realize the transformation from an automobile manufacturing company to a global technology company; In October, Yin Tongyue, Chairman of Chery Holdings, said that in 2024, it will definitely enter the national head in the ranking of new energy industry, "it will not be so polite as this year".

　　And this so-called "head", Chery’s goal is to rank among the top five new energy sources of its own brand. In this regard, Chery plans to launch 39 new products of new energy vehicles in the next two years. In the fourth quarter of this year alone, Chery has released or listed a number of new energy vehicles, such as iCAR 03, Star Road Star Era ES, (|) and Chery Fengyun A8. (Text/Observer Network, compiled/car home Xing Yueyang)