Chery Automobile, the Chinese automotive giant, is reportedly set to withdraw from the Russian market by 2027. This information was disclosed in documentation submitted to the Hong Kong Stock Exchange, highlighted by Nikkei. The company cites concerns over potential secondary sanctions from the West as a critical reason for this decision. As part of its future plans, Chery aims to list its shares on the Hong Kong Stock Exchange by the end of 2025, seeking to raise $1.2 billion for expanding its product lineup, particularly in electric and hybrid vehicles. The Russian market holds the second-largest position for Chery, after its home country of China. In 2024, Russia contributed to 25.5% of the overall revenue of Chery, while the figure was 17.7% in 2023, as reported by "Kommersant". In April, Chery began selling its assets in Russia to local partners. However, the exit from the Russian market will not mean the end of Chery’s presence; their vehicles will still be available through proxy brands like Tenet. Furthermore, Chery confirmed that it has also ceased operations in Iran and Cuba.