Tuopu Group Solidifies Tesla Supplier Status, Expands Reach to Chery via Acquisition

Chinese automotive supplier Ningbo Tuopu Group has scaled its chassis components, anti-vibration systems, and thermal management businesses as a core Tesla supplier, but recently its growth has been fueled by air suspension system contracts with SERES and Xiaomi Auto. In 2025, Tuopu Group saw its revenue rise 11.2% year-on-year (YoY) to 29.58 billion CNY. Sales of automotive electronics, including integrated brake-by-wire and electric power steering, surged 52.1% YoY to 2.77 billion CNY, signaling their growing importance in the company's product portfolio. To capture more market share, Tuopu acquired Wuhu Changpeng Automotive Parts—an interior/exterior trim and NVH solutions specialist—in May 2025. Chery Automobile held a 33.33% stake in Changpeng, which served as a supplier to Chery. Through this acquisition, Tuopu aims to ramp up its supply to Chery and boost profitability via vertical integration.