Autobacs Denies Final EV Deal with Chery, Reaffirms ZEV Growth Strategy

Autobacs Seven Co ( (JP:9832) ) has shared an announcement.

Autobacs Seven clarified that, while it has invested in Singapore-based Electric Mobility Technology, no concrete decisions have been made on selling China-made electric vehicles in Japan in partnership with Chery Automobile, contrary to implications in a Nikkei report. The company said it is still considering options for leveraging its store network for EV maintenance and sales and will disclose any definitive developments when appropriate.

Under its “Beyond AUTOBACS Vision 2032,” the group positions zero-emission vehicles, including EVs, as key growth products as it targets ¥500 billion in consolidated net sales by fiscal 2032 and expands collaborations with foreign and emerging automakers. Investments such as the stake in Electric Mobility Technology are intended to support potential future collaborations in maintenance and vehicle sales, as Autobacs pursues broader mobility solutions and sustainable long-term growth.

More about Autobacs Seven Co

Autobacs Seven Co., Ltd. is a Japanese company operating in the automotive aftermarket, best known for its nationwide network of AUTOBACS stores that provide car parts, accessories, maintenance, and related mobility services. The group is increasingly focusing on zero-emission vehicles and new mobility solutions as part of its long-term growth strategy in Japan and overseas markets.

YTD Price Performance: -6.38%

Average Trading Volume: 284,032

Technical Sentiment Signal: Buy

Current Market Cap: Yen118.1B

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