iCar's Strategy in Southeast Asia: Product Adaptation Captures the Market

In the midst of intensifying competition in the electric vehicle sector, iCar, as Chery’s new sub-brand, is beginning to establish a foothold in Southeast Asia with encouraging early performance.

This movement aligns with rapid global expansion over the past year, from brand introduction to penetration into various regions such as ASEAN and the Middle East.

“After debuting at Auto Shanghai last year, iCar has had an extraordinary journey. Today, in Beijing, we can see our journey from China to the world truly beginning,” said iCar CEO Dr Su Jun in his statement on Friday (24/4/2026).

The model has recorded positive results in the boxy-style electric SUV segment, while strengthening iCar’s position as a new player to be reckoned with.

This performance is evident in Thailand, Indonesia, and Malaysia, which serve as the initial growth points in the region.

“Our first model, V23, immediately became one of the best boxy vehicles in Southeast Asia. In February 2026, the V27 was also introduced in the Middle East and received a response exceeding expectations,” Su Jun stated.

The V23 attracted attention when it appeared at the Indonesia International Motor Show 2026, winning three awards.

Meanwhile, in Thailand, its sales have surpassed 4,000 units.

The model led its segment for two consecutive months, while entering the top five electric vehicles with the highest registrations.

In Malaysia, its distribution has reached 1,800 units since launch.

This relatively quick response indicates market acceptance of the new brand.

Looking further, these achievements are inseparable from a product approach that adapts to the characteristics of the region.