Dongfeng-Stellantis Automotive Technology was officially established in Wuhan with registered capital of approximately RMB 8.2 billion, planning four NEV models from 2027. Chery's H1 2026 overseas revenue reached RMB 98.968 billion, up 51% YoY. Schaeffler and Shougang signed a low-carbon cooperation agreement to advance supply chain decarbonization.
Dongfeng-Stellantis Joint Venture Officially Launched in Wuhan
On August 20, 2026, Dongfeng Stellantis Automotive Technology (Wuhan) Co., Ltd. was officially inaugurated in the Wuhan Economic and Technological Development Zone. The company has registered capital of approximately RMB 8.2 billion and is jointly funded by six investors, including Dongfeng Motor, Stellantis, and Dongfeng Peugeot Citroën Automobile (DPCA).
Equity Structure and Business Scope
The equity breakdown is as follows:
- Dongfeng Peugeot Citroën Automobile: approximately 24.1%
- Dongfeng Motor: 13.5%
- Stellantis: 13.5%
The company will engage in vehicle R&D, industrial investment, and new energy vehicle sales. Its initial product plan includes four new battery-electric and plug-in hybrid electric vehicle models for off-road, urban commuting, and family mobility scenarios, with launches scheduled to begin in 2027.
| Shareholder | Stake | Core Contribution |
|---|---|---|
| Dongfeng Peugeot Citroën Automobile | 24.1% | Existing capacity and distribution base |
| Dongfeng Motor | 13.5% | NEV and intelligent connected vehicle technologies |
| Stellantis | 13.5% | Brand resources and global distribution network |
| Other investors | 48.9% | Regional industrial support |
Under this partnership, Dongfeng Motor will lead core new energy vehicle and intelligent connected vehicle technologies, Stellantis will contribute its brand resources and global distribution network, and local investors will provide regional industrial support.
Chery Automobile Reports Strong H1 2026 Results
On the same day, Hong Kong-listed Chery Automobile released its unaudited results for the six months ended June 30, 2026.
Key Financial Highlights
Chery achieved the following in H1 2026:
- Total revenue: RMB 143.28 billion, up 1.2% year on year
- Gross profit: RMB 23.044 billion, up 25.1% year on year
- Gross margin: improved from 13% to 16.1%
- Profit for the period: RMB 9.016 billion, with a net margin of 6.3%
- Profit attributable to owners: RMB 8.567 billion
Overseas operations were the standout performer:
- Overseas revenue surged 51% year on year to RMB 98.968 billion
- Chery operates 12 major production bases globally, including 3 overseas facilities
- Sales and service networks span Europe, South America, Africa, and the Middle East
New energy vehicle business also delivered strong growth:
- NEV revenue jumped 63.8% year on year to RMB 59.284 billion
- NEV revenue share increased from 25.6% to 41.4% of total revenue
R&D expenditure grew 28.3% year on year to RMB 6.672 billion, focusing on electrification, vehicle platform upgrades, driving-assistance solutions, and intelligent cockpits.
Schaeffler and Shougang Sign Low-Carbon Agreement
On August 18, Schaeffler and Shougang Steel signed a memorandum of cooperation on low-carbon and sustainable development, focusing on low-carbon steel, carbon-footprint accounting, and clean-energy applications.
Key cooperation areas include:
- Development and application of low-carbon steel
- Carbon emissions accounting and data sharing
- Low-carbon steel certification system
- Low-carbon production process optimization
- Scrap steel recycling
The partnership will calculate the carbon footprint of steel used by Schaeffler, providing data to measure emissions reductions and explore the use of low-carbon steel across Schaeffler's supply chain.
This initiative aligns with Schaeffler's goals of achieving climate-neutral production by 2030 and a climate-neutral supply chain by 2040.
Together, these three developments highlight the core trends in China's automotive industry: deepening international cooperation, accelerating overseas expansion, and faster green transformation of supply chains. For buyers in Central Asia and Russia, Chery's continued global expansion means more high-quality Chinese vehicles will enter local markets. Stay updated with EX1000.COM.
