Beijing (ZXZC)- Chery Automobile-backed Chinese automaker, Kaiyi Auto (formerly known as Cowin Auto), announced on February 3 its E5 sedan model officially rolled off the production line at the AVTOTOR factory in Russia. 

Photo credit: Kaiyi Auto

This marked an important step for Kaiyi Auto’s foray into the Eastern European market and a new milestone for the company’s global strategy.

At the event, Kaiyi Auto and AVTOTOR Group, the local automobile manufacturing company, officially signed an SOP Agreement on the E5 model, as well as a comprehensive strategic cooperation agreement. According to the agreement, AVTOTOR Group was authorized with the exclusive right to manufacture and distribute Kaiyi Auto’s vehicles in Eastern Europe and several CIS (Commonwealth of Independent States) countries. 

AVTOTOR Group plans to officially sell the E5 model in the first quarter of 2023, and will continue to introduce three new models into the Eastern European market at the end of 2023 with an annual sales goal of over 30,000 units.

Kaiyi Auto kicked off its global strategy layout in 2020. By the end of 2022, its vehicles are being sold in more than 30 countries and regions worldwide through various modes such as CBU and KD.