Launched in 2022 as a sub-brand of Chery Automobile, Kaiyi (formerly Excel) focuses on value-oriented intelligent electric and hybrid vehicles for China’s mass market. The inaugural model, the Kaiyi X3 compact SUV, offers a 150 kW electric motor, a 400 km NEDC range, and advanced Level 2 driver-assistance features. In early 2023, Kaiyi introduced the U5 electric sedan with a minimalist digital cockpit, wireless smartphone integration, and over-the-air update capability. Backed by Chery’s R&D and manufacturing facilities, Kaiyi delivered 30,000 units in its first year, targeting young families and first-time EV buyers. The brand’s cost-leadership strategy combines a local supply chain with modular platforms. Kaiyi’s subscription-based battery leasing option reduces upfront costs and allows customers to upgrade battery packs as technology evolves.