iCAR is an independent new energy brand under Chery Group, operated by iCAR Ecology Technology. Positioned as “a car for young people, born for fun”, it focuses on lightweight off-road boxy vehicles and modification & expansion for outdoor scenarios. Its main domestic models include iCAR 03, Super V23 and V27, targeting the differentiated 100,000–250,000 RMB new energy light off-road segment. Different from mainstream urban family SUVs, it caters to camping, light cross-country and personalized modification enthusiasts.
I. Brand Core Logic
1. Parent Company Backing: Leverages Chery’s complete vehicle chassis, three-electric system and manufacturing supply chain. As an independently operated brand, it builds a trendsetting modification ecosystem, positioning its vehicles as “electric toys” rather than mere commuter cars.
2. Track Selection: Avoids the red ocean of mainstream all-electric family vehicles and enters the affordable new energy lightweight off-road boxy vehicle segment, with few competitors in this price bracket.
3. Overseas Export Potential: The brand has planned for both domestic and overseas markets from the early stage. Its boxy styling and modification features appeal strongly to Southeast Asia, the Middle East and Latin America, making it suitable for automobile export business.
II. Breakdown of Core Models
✅ iCAR Super V23 (Main Volume Model, BEV)
· Price: 99,800–164,800 RMB
· Positioning: Compact all-electric boxy SUV for urban commuting and light off-roading, key export model
· Core Strengths
· Exterior: Retro round-lamp boxy design with abundant factory pre-reserved modification interfaces. Quick-release bumpers and wheel arches are supported for mature modification ecosystem.
· Chassis: Five-link suspension; high-spec dual-motor four-wheel drive. Ground clearance of 210 mm, approach angle of 43°, capable of mild rough-road driving.
· Three-electric System: CLTC range of 401/501 km, 8155 chip, 15.4-inch 2.5K central control screen; IP68 battery protection and vehicle-to-load (V2L) power supply, ideal for camping.
· Weaknesses: Compact body limits rear-seat comfort on long trips; limited brand service network and low residual value; high wind noise at high speeds.
✅ iCAR V27 (EREV Large Boxy SUV, Long-distance Self-drive)
· Positioning: Midsize extended-range hard-core SUV, benchmarking Deepal G318 and Tank 400 New Energy
· Powertrain: 1.5T range extender. Pure electric range of 210 km, combined range of 1,200 km on full fuel and full charge; supports fast charging. Equipped with MRC magnetorheological suspension, intelligent 4WD, 600 mm wading depth, towing qualification and 200 kg roof load rating, suited for long-distance cross-country, camping and trailer towing.
· Advantages: Eliminates range anxiety for long trips with extended-range architecture; larger body balances family use and off-road capability; Falcon 500 intelligent driving, 23-speaker audio system and V2L power supply.
· Weaknesses: Higher price; heavy curb weight leads to higher energy consumption than the pure-electric V23; noticeable noise from range extender at high speed.
✅ iCAR 03 (Debut Model)
The brand’s first model, with a rounded crossover shape mainly for urban commuting. It served as a market trial, while V23 has become the core sales model.
III. Core Advantages
1. Differentiated Product Positioning: The only factory-supported modifiable all-electric boxy vehicle at the 100k RMB price range. Highly recognizable styling precisely attracts young users and camping & modification enthusiasts.
2. Chery-backed Three-electric System & Safety: Cage-type body with 70% high-strength steel, IP68 waterproof battery. Manufacturing quality benefits from Chery’s system, with better reliability than many new EV startups.
3. Scenario-oriented Configurations: Standard V2L power supply and pre-installed expansion mounting points, natively built for outdoor lifestyles instead of aftermarket retrofits.
4. High Adaptability for Export: Boxy silhouette and modification potential are well received overseas, giving it differentiated competitiveness for auto export.
IV. Weaknesses & Risks (Key for Foreign Trade & Sales)
1. After-sales Channel Limitations: New brand with far fewer domestic outlets than BYD and Geely. Overseas channel development is still in early phase; spare parts supply is the biggest challenge for exports.
2. Short Brand Heritage & Low Residual Value: Emerging sub-brand with weak second-hand circulation.
3. Fast Product Iteration: Rapid model updates further depress residual value of older versions.
4. NVH & Interior Materials: Cost constraints result in mediocre interior quality and higher wind/road noise compared with mainstream family vehicles in the same segment.
5. Competitive Pressure: More brands will launch affordable new energy boxy SUVs, intensifying competition in this niche market quickly.
V. Target Customers & Benchmarking
· Target Users: Young private buyers, camping lovers and modification enthusiasts. For overseas exports: consumers in Southeast Asia and the Middle East preferring compact hard-core SUVs.
· Domestic Benchmarks:
· V23: No direct peer competitors; indirect rivals include Baojun Yep and Tank 300 (separated by price gap)
· V27: Deepal G318, Jetour Traveller, Tank 400 Hi4-T
VI. Summary from Automobile Export Perspective
The iCAR Super V23 is a high-potential export model. Low entry price, highly recognizable appearance and rich modification ecosystem deliver differentiated competitiveness in overseas personalized small vehicle markets. Its risks mainly lie in overseas after-sales networks, spare parts system and overseas certification. The V27 EREV version targets overseas markets demanding long-distance driving, yet it carries higher costs and relatively smaller market volume.