EBRO to Make 30,000 Cars, Expects Profit This Year

Production and Profitability Goals Set for 2024

Spanish carmaker EBRO plans to manufacture 25,000 to 30,000 vehicles in Barcelona this year, aiming to double last year's sales. Chairman Rafael Ruiz stated that the company expects to return to profitability after reporting a net loss of 16.3 million euros in the previous year.

Overview of the Chery Partnership

The production will take place at a former Nissan facility, operated through a joint venture in which EBRO holds a 60% stake with Chinese automaker Chery. This collaboration is central to EBRO's relaunch strategy, with Chery set to begin its own production at the site by late 2026 or early 2027.

Economic Impact and Market Outlook

This initiative represents a significant boost for the local economy, with the plant employing 1,600 people and having the capacity for 200,000 cars annually. The venture also strategically positions both companies within the European market, addressing potential EU tariffs on imported Chinese electric vehicles by localizing production.

Summary and Future Projections

EBRO's ambitious production target, powered by its strategic alliance with Chery, is set to drive its financial turnaround. The focus remains on ramping up industrial capacity to meet sales goals and solidify its market position following its 2024 relaunch.

FAQ

Q: What is EBRO's production target for this year?
A: EBRO aims to manufacture between 25,000 and 30,000 vehicles at its Barcelona facility.

Q: When will Chery start production in Barcelona?
A: Chery is expected to begin production at the site by the end of this year or during the first quarter of 2027.

Source: Investing.com