The Chinese electric car company Chery (CHERY) is entering Israel when the first model it will bring here is the “Ant”. The price of the car in Israel is not expected to be cheap and the “Small Ant” model will be around NIS 110,000, the first in the series to be introduced.
Cherry Small Ant; Photo: Company website.
The company’s models will be imported by Carso Motors
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which won a tender to import the cars about a year ago. Carso is one of the largest importers in Israel, with Renault, Nissan, Dacia and Infiniti also in its group. All of these will soon be joined by the Chinese automobile giant XPENG {XPENG} sometimes known as “Xiaofeng”. Despite the small Israeli market compared to the rest of the world, the Chinese manufacturer has already tried to enter the country in the past, but put it on hold in light of the many difficulties the industry has suffered all over the world.
The electric vehicle market in Israel is heating up and the competition is only increasing. Despite severe failures and disruptions in the supply chains in light of the Corona epidemic, the Russia-Ukraine war and the shortage of chips, the market is reviving and demand is intensifying. As a result, car importers record particularly high profits – car fuel
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of Gil Agmon (43.59%) is one of the largest cash generators among the traded companies and its latest reports testified to this.
Carso Motors shares fell by 6% since the beginning of the year to a price of NIS 17.7, which represents a market value of NIS 1.62 billion.
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