Chery's Exeed unveils Yaoguang to explore premium market

Chery's marque Exeed launched a flagship SUV, called Yaoguang, on Tuesday, aspiring to make further inroads into China's competitive premium vehicle market.

Yin Tongyue, chairman of Anhui province-based Chery, said the Yaoguang crossover represents the car group's latest technology and its customer-centered philosophy.

Chery unveiled a technological strategy called Yaoguang 2025 in September 2022, involving the carmaker's latest architecture and powertrains.

The Yaoguang crossover, built based on the M3X 2.0 platform, is the first model under the new strategy.

It features a 2.0-liter turbocharged engine, generating a maximum output of 192 kW and a top torque of 400 Nm. In terms of smart features, it can identify the drivers and process 20 orders in 30 seconds, among other things.

It has a 50-inch augmented-reality head-up display and 32 Level 2 driving-assist functions including valet parking.

Exeed said it has received over 12,900 orders for the model since presales started in late December.

Huang Zhaogen, president of Exeed's marketing and sales center, said many of those who have placed orders are well-educated urbanites, who are the brand's target customers.

Chinese car buyers are growing fond of local marques, as a result of the improved vehicle quality and introduction of cutting-edge technologies, according to a Roland Berger report released earlier this month.

Sales of Chinese carmakers accounted for 49.9 percent of the country's passenger vehicle market in 2022, according to the China Association of Automobile Manufacturers.