On the evening of December 17, 2024, AITO Technology, a joint venture between Changan, Huawei, and CATL, announced the successful completion of Series C funding, securing over 11 billion yuan.

In the fiercely competitive automotive industry, where financial strength serves as a crucial benchmark, AITO stands firmly grounded.

This funding round was jointly contributed by Changan Automobile, Chongqing Yufu Group Funds, Southern Asset Management Funds, State Investment Funds, Bank of Communications Investment, and other strategic and market-driven investors.

Changan Automobile has pledged an additional investment of 4.551 billion yuan in AITO Technology, maintaining its shareholding at 40.99%. Southern Asset Management intends to invest an extra 400 million yuan, slightly diluting its stake from 7.81% to 6.34%. Chongqing Anyu Fund aims to invest 2.8 billion yuan, acquiring an 8.81% share. Bank of Communications Investment will invest 700 million yuan, raising its shareholding from 1.76% to 3.34%. Other new shareholders will collectively invest 2.65 billion yuan, bringing the total additional investment to 11.101 billion yuan.

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

This funding will propel AITO's current operations and foster the continuous development of its core competitiveness in the emerging luxury market. AITO affirms that the Series C funding will fortify its operational funds, enabling accelerated R&D and design for future models, brand enhancement, and international expansion.

About AITO Technology

In August 2018, Changan Automobile and NIO collaborated to form 'Changan NIO,' dedicated to producing intelligent and connected electric vehicles. By 2020, Changan Automobile had increased its stake in 'Changan NIO' to 95.38%, renaming the venture 'AITO Technology.'

Headquartered in Chongqing, China, with offices in Shanghai and Munich, Germany, AITO Technology is a pioneering collaboration between Changan Automobile, CATL, and Huawei. The company has developed the CHN technology platform, offering advanced electronic and electrical architecture, robust computing capabilities, and efficient high-voltage fast-charging technology for vehicles.

AITO's flagship product, the 'AITO 11,' is the world's first emotional intelligent electric coupe SUV, priced between 279,900 and 429,900 yuan. The 'AITO 12,' equipped with 19 intelligent active safety features, three lidar sensors, and a HarmonyOS cabin system, is priced between 259,900 and 419,900 yuan.

Market performance data indicates that in November 2024, AITO delivered 11,579 units, marking a year-on-year increase of over 180%, with over 10,000 units delivered for two consecutive months. From January to August 2024, operating revenue surpassed 7 billion yuan.

Moreover, AITO has commenced preparations for its initial public offering (IPO), aiming to go public in 2026.