On the evening of December 17, 2024, AVATR Technology, a joint venture between Changan, Huawei, and CATL, announced the completion of its C round of funding, raising over 11 billion yuan.

In the fiercely competitive automotive landscape, where financial strength is paramount, AVATR stands firmly grounded.

This round of funding is a collaborative effort from Changan Automobile, Chongqing Yufu Fund, South Asset Fund, SDIC Fund, Bank of Communications Investment, and other strategic and market-oriented investors.

Changan Automobile announced its intention to invest an additional 4.551 billion yuan in AVATR Technology, maintaining its 40.99% shareholding.

South Asset plans to increase its investment by 400 million yuan, resulting in a diluted shareholding ratio from 7.81% to 6.34%.

Chongqing Anyu Fund intends to invest an additional 2.8 billion yuan, securing an 8.81% stake.

Bank of Communications Investment plans to invest 700 million yuan, raising its shareholding from 1.76% to 3.34%.

Other new shareholders collectively plan to invest a total of 2.65 billion yuan.

The aforementioned capital injections sum up to 11.101 billion yuan.

With robust support from state-owned capital and active engagement from market-oriented investors, AVATR has embarked on a phase of rapid growth.

This funding round will accelerate AVATR's current operations and propel the continuous development of its future new luxury offerings, enhancing its core competitiveness. AVATR stated that with the conclusion of the C round, it will have ample operating funds to further accelerate R&D, model design, brand building, and overseas expansion.

About AVATR Technology

In August 2018, Changan Automobile and NIO jointly established "Changan NIO" to manufacture intelligent and connected new energy vehicles.

In 2020, Changan Automobile increased its stake in "Changan NIO" to 95.38%, renaming the company "AVATR Technology".

Headquartered in Chongqing, China, with branches in Shanghai and Munich, Germany, AVATR Technology, a collaboration between Changan Automobile, CATL, and Huawei, has pioneered a new industry cooperation model. Together, they have developed the CHN technology platform, offering advanced electronic and electrical architectures, robust computing capabilities, and efficient high-voltage fast-charging technology for vehicles.

Its flagship product, "AVATR 11," is the world's first emotional intelligent electric coupe SUV, priced between 279,900 and 429,900 yuan. "AVATR 12," equipped with 19 intelligent active safety configurations, three LiDAR sensors, and the HarmonyOS cabin system, is priced between 259,900 and 419,900 yuan.

In terms of market performance, public data reveals that in November 2024, AVATR delivered 11,579 vehicles, marking a year-on-year increase of over 180% with over 10,000 deliveries for two consecutive months. From January to August 2024, AVATR's operating revenue exceeded 7 billion yuan.

Furthermore, AVATR has initiated preparations for its IPO, aiming to go public in 2026.