Chinese manufacturer Chery says that it has filed for more than 26,000 patent applications while eviscerating sales targets earlier than it had anticipated, surpassing 2022’s total sales figures by the end of the third-quarter and announcing investments totalling AUD $21b.
The update comes after Chery hosted its ‘2023 Chery Tech Day’ which gave the opportunity to showcase its high volume of patent application and detail future investments as it continues its meteoric ascension. 
All up, the company says that it managed to manufacture and deliver 1,253,000 vehicles in the nine-months from January to September, 2023, outpacing its total deliveries in 2022 as the company continues to explode.
Looking forward, Chery executives have confirmed that 100 billion yuan, around AUD $21 billion with today’s exchange rate, will be invested in further research and development.
The company says investment funds will be focused on innovation in new energy technologies, namely hybrid and battery-electric powertrains, intelligent connectivity and autonomous driving technology.
Chery says that these investments will be matched with the construction of 300 ‘Yao Guang Laboratories’ around the globe, designed to be innovation hubs for breakthroughs in autonomous tech and ‘intelligent cabins.’
The company says that “this concerted effort aims to establish the foundational elements necessary for crafting an internationally competitive brand with a global presence.”
