Founded in 1997 in Wuhu, China, Chery Automobile began production in 1999 using licensed Volkswagen technology. Originally a state-owned enterprise, the company underwent a major restructuring and IPO in 2025, becoming public with a mixed ownership structure. Today, it is co-owned by the Anhui and Wuhu governments (~36%), employees (~18%), and private investors like Luxshare and battery giant CATL.