Industry sector: Automotive
With a distinctly entrepreneurial flair, auto manufacturer Chery gives lie to the myth that state ownership stifles innovation. A winning combination of a strong IP base (its R&D centres have reportedly generated some 4,000-plus patents) and astute commercial sense has thrust it to prominence on the global stage. In October 2012, a proposed joint venture with Jaguar Land Rover received the green light from the Chinese authorities; the following month it struck a landmark deal with state-owned Guangzhou Automobile Group to collaborate on R&D and share resources. The company is also a trailblazer in electric car technology, with joint venture Qoros – established in 2007 in tandem with Israel Corporation – a prime example of its commitment to this nascent market.