This agreement marks a new step in Chery’s international expansion strategy, with the company already serving over 5 million overseas users and holding the top position in China’s passenger vehicle exports for more than twenty years. FORVIA, recognized for its technological expertise and global footprint, will fully support Chery’s international expansion through its global R&D and manufacturing footprint, contributing to:

• Technology innovation

• Supply chain optimization

• Quality system development

• Localized end-to-end services

• Sustainable growth initiatives

Both parties commit to advancing ESG and dual-carbon goals, enhancing each other’s reputation, and expanding cooperation fields. Localized supply and after-sales services will help Chery meet regional requirements and reduce logistics costs.

To ensure alignment and continuous improvement, the parties will establish regular management-level communication and joint learning mechanisms across technology, quality, and operations.

This Letter of Intent serves as a non-binding framework, expressing the shared intention of both parties to collaborate on specific projects, which will be governed by separate contracts as opportunities arise.

“Our partnership with Chery -supported by FORVIA’s global capabilities and local execution, as we do in Europe, particularly in Spain- illustrates our commitment to enabling customer success worldwide. By aligning FORVIA’s advanced technologies and industrial footprint with Chery’s international growth strategy, we are confident in our ability to jointly capture new market opportunities, accelerate sustainable value creation, and set new standards of performance in the automotive industry. Based on the momentum we’re seeing, this new Letter of Intent takes our already strong collaboration to a next level.” said Martin Fischer, Chief Executive Officer of FORVIA.

Chery, a key strategic customer for FORVIA

One of China's most successful automakers, Chery has achieved impressive growth of 38.4% over the previous year. It currently represents 9% of the Chinese market share and ranks second in sales among Chinese automotive brands. Chery has also been China's leading passenger vehicle exporter for 22 years.

FORVIA and Chery have a strong relationship based on mutual trust and respect, with several programs currently underway for our Seating, Interior and Electronic business groups.