TMTPOST -- Chery Holding Group Co. has enlisted JPMorgan Chase & Co. to assist in arranging a potential listing of its automotive unit in Hong Kong, targeted for next year, according to sources familiar with the matter. The Chinese automaker plans to proceed with an initial public offering (IPO) of Chery Automobile Co., aiming to raise up to $1 billion, the sources said, requesting anonymity due to the confidential nature of the discussions. The IPO is expected to take place in the second or third quarter of 2025, they added. The move underscores Chery's ambitions to tap into global capital markets as it expands its presence in the competitive automotive sector, leveraging growing demand for electric vehicles and innovative car technologies.