Yesterday (December 25), Changan Automobile's subsidiary, Deep Blue Automobile, announced the successful completion of a Series C funding round, raising a substantial 6.122 billion yuan. This infusion of capital has led to an increase in its registered capital from 3.28 billion yuan to 4.66 billion yuan.

The capital increase in this round was jointly undertaken by Changan Automobile, Chongqing Yufu Holdings Group, and CMB Financial Asset Investment Co., Ltd. Specifically, Changan Automobile contributed a total of 3.122 billion yuan, comprising 2.079 billion yuan in cash and 1.043 billion yuan in intangible assets, thereby maintaining its controlling stake at 50.9959%. Yufu Group increased its capital by injecting 2.5 billion yuan in cash, securing a 12.0934% stake. Meanwhile, CMB Investment contributed 500 million yuan in cash, holding a 2.4187% stake.

Deep Blue Automobile revealed that the funds raised will be primarily allocated to the research and development (R&D) of next-generation pure electric platforms, extended-range systems, and advanced intelligent driving technologies. Additionally, the funds will be used to accelerate the expansion of its global channel network.

Established in May 2018 in Chongqing, Deep Blue Automobile was initially known as Changan New Energy Technology Company. In April 2023, it was rebranded as 'Deep Blue', with a focus on dual technology routes encompassing pure electric and extended-range vehicles. As the core entity of Changan Automobile's 'Shangri-La Plan' and the first mixed-ownership reform new energy vehicle company among central enterprises, Deep Blue Automobile boasts a global R&D network spanning five key locations: Chongqing, Nanjing, Turin, Birmingham, and Detroit.

According to the company's latest data, Deep Blue Automobile has delivered over 700,000 vehicles in total, securing the top position in sales among central enterprise new energy brands.

Almost concurrently with the funding announcement, Deep Blue Automobile obtained the nation's first official L3 autonomous driving license plate, enabling its vehicles to conduct compliant testing on public roads. This milestone signifies the compliant implementation and real-world application of L3 autonomous driving technology, marking China's entry into a conditionally driverless phase in autonomous driving.

Industry analysts have pointed out that, against the backdrop of a comprehensive phase-out of new energy subsidies and an ongoing industry price war, securing over 6 billion yuan in 'hard cash' at once provides Deep Blue Automobile with a substantial buffer for subsequent model iterations and overseas expansion. The joint support from state-owned assets and market-oriented capital also underscores the sustained optimism of capital towards the growth potential of central enterprise new energy assets.