Omoda and Jaecoo, sub-brands of Chery Automobile, one of China's largest automakers, have entered the European market with Spain as their launchpad.
Chery has taken over the former Nissan plant in Barcelona as part of a 500 million-U.S. dollar joint venture with EV Motors, marking a major step in its European expansion.
Spanish customers are increasingly recognizing the value and innovation these brands bring to the automotive sector, according to Francesco Colonnese, sales director of Omoda Spain.
"Omoda and Jaecoo are the two new brands that entered Spain as the first market in Europe. So we are the first one, like the pioneer of the entrance of Omoda and Jaecoo, the two brands in Europe, and what do we want to do? We want to play an important role in the automotive sector," he said.
Chinese car manufacturers are also gaining global traction by offering high-tech vehicles at competitive prices.
"Spanish customers could be very open to new cars. they don't have the Italian cars, the Italian brands for the Italians, they do not have the Germans and the French for both countries. So they're very open if the car is rather good looking as the Omoda and Jaecoo are, and the price is a good price, a fair price. they will choose you, they will try the new choice. Also because from a logistic point of view, was very important market to enter in Europe," Colonnese said.
Chery is not alone in its investment in Spain. CATL, a Chinese battery manufacturer and technology company, has committed nearly 5 billion U.S. dollars to a gigafactory in Zaragoza as part of a joint venture with Stellantis, further solidifying Spain's position as a key place for technological and industrial innovation in Europe.
Chinese automaker Chery expands in Spanish market
Chinese automaker Chery expands in Spanish market
Iranian Foreign Minister Seyed Abbas Araghchi said on Monday that the situation in Iran is "under total control" following violence linked to protests that spiked over the weekend.
Addressing foreign diplomats in Tehran, the foreign minister noted that armed terrorist groups had infiltrated the protests, attempting to divert them from their legitimate course. He claimed that evidence has been gathered showing Iranian security forces being shot at, with the aim of causing further casualties. He accused the United States and Israel of exploiting the unrest to interfere in Iran's internal affairs.
Araghchi further stated that the government is closely monitoring developments on the streets, emphasizing that "the situation has come under control." He also affirmed that internet services, curtailed during the unrest, would be restored after coordination with security agencies.
The government has engaged in dialogue with merchants and protest representatives and initiated reforms to address grievances related to price hikes and currency depreciation. Iran has taken a series of actions and measures to respond to the demands of peaceful demonstrators, the foreign minister said.
Earlier on Sunday, Araghchi said that clear evidence links recent riots and vandalism of public facilities in Iran to the Israeli intelligence agency Mossad. This came after former U.S. Secretary of State Mike Pompeo mentioned Mossad agents operating on Iran's streets in a social media post. The Iranian foreign minister asserted that police are being attacked by "terrorists" acting under the direction of Israeli operatives, whom Pompeo publicly acknowledged.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and U.S. sanctions.
Iranian foreign minister says situation "fully under control," accuses Israeli intelligence of stoking unrest
