The Federal Tax Service (FTS) of Russia has initiated the process of forced liquidation of Chery's subsidiaries — "Omoda Cars Rus" and "Exeed Cars Rus" — without prior judicial proceedings. The decision came as a surprise to the founder, "Chery Automobiles Rus", and was initiated amidst the active transformation of Chery's business in Russia.
In recent months, Chery has been changing the names of its cars and renegotiating contracts with dealers. Instead of "Chery Automobiles Rus", cars will now be shipped through "Tenet Rus" and other legal entities. The names of the cars are also undergoing changes: Tenet replaces Chery, Jeland — Jaecoo, and new names have been prepared for Exeed and Omoda — Esteo and Onives, respectively.
The liquidation of "Omoda Cars Rus" and "Exeed Cars Rus" may be part of Chery's strategy to demonstrate the curtailment of business in Russia, according to automotive journalists. In their opinion, this is necessary for successful preparation for an initial public offering (IPO) on the Hong Kong Stock Exchange.
Due to Chery selling cars in Russia, the parent company has had problems with American banks. This was reported by Bloomberg. At the end of last year, Chery tried to establish relations with JPMorgan Chase & Co.
The FTS began the liquidation process of "Omoda Cars Rus" on August 13, and "Exeed Cars Rus" on August 20. Both legal entities were registered on July 26, 2023, but did not actually conduct their activities. The liquidation was initiated in accordance with an administrative procedure allowing the exclusion of a "non-operating legal entity" from the Unified State Register of Legal Entities (USRLE) without a court decision.
The FTS may initiate the liquidation procedure if the company does not provide the necessary reporting documents.
Read more on the topic:
Chery renames cars to Tenet: possible risks named
How the production of Tenet T4 compact crossover started in Kaluga: details
Which factories in Russia assemble cars from China: a complete list
Now on home
Герой России Гарнаев: никто из профессионалов о возобновлении производства на КАЗ всерьёз не говорит
Система отслеживает спутники на высотах до 50 000 км и ведёт за ними наблюдение
The armored vehicle is equipped with a KamAZ-740.35-400 diesel engine with a power of 400 hp.
Constant improvements in avionics, weapons and tactical capabilities will make the aircraft a flexible response to future challenges
The exterior of the KamAZ-54901 features fairings on the cab and chassis for fuel economy
Fighters are in demand both domestically and abroad
Tyazhpromexport and Venezuela Agree on Plant Revival
The company not only completed the state order, but also quickly mastered the production of AK-12K for special forces
Experts have developed a photogrammetric complex with a resolution of less than 1 cm
