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Avatr Technology

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Avatr Technology Co., Ltd.
Native name
阿维塔科技(重庆)有限公司
Company typeState-owned joint venture
IndustryAutomotive
PredecessorChangan-Nio
Founded2018; 7 years ago (2018)
Founders
Headquarters
Chongqing
,
China
Area served
China
Key people
Chen Zhuo (president)
ProductsAutomobiles
Production output
Increase 73,606 vehicles (2024)
Owner
  • Changan Automobile (40.99%)
  • CATL (14.1%)
  • Chongqing Chengan Foundation (11.17%)
  • China Southern Asset Management (6.34%)
  • National Green Development Fund (4.46%)
  • Fujian Mindong Electric (2.94%)
  • Liangjiang Western Securities (1.10%)
  • Southern Industrial Fund (0.73%)
  • Nio (0.67%)
Number of employees
1,000+
Websitewww.avatr.com
Footnotes / references
The company's registered address was Jiangning District Nanjing City Jiangsu Province, and the registered address was moved to Yubei District Chongqing City in January 2021.

Avatr Technology Co., Ltd. (Chinese: 阿维塔; pinyin: Ā wéi tǎ; pronounced "Avatar") is a Chinese electric vehicle manufacturer headquartered in Chongqing. Established in 2018, Avatr Technology is a premium EV brand created through a joint venture led by Changan Automobile in collaboration with various Chinese domestic entities. The brand benefits from technological support provided by Huawei and battery technology supplied by CATL.

Avatr showroom in Shenzhen, China

History

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Changan-Nio

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In 2018, Changan aimed to establish a company dedicated to developing modern, technologically advanced electric vehicles in partnership with Nio Inc. To achieve this, a joint venture named Changan-Nio was formed with an equal 50:50 share ratio. However, the partnership did not materialize, as Nio withdrew from the alliance two years later.[1]

Establishment of Avatr

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Following Nio's withdrawal, Changan Automobile as the primary shareholder partnered with two major Chinese technology companies: battery manufacturer CATL and technology corporation Huawei. In May 2021, the company was renamed from Changan-Nio to Avatr Technology.[2]

In November 2021, Avatr conducted its first round of capital increase and share expansion, resulting in a dilution of Changan Automobile's ownership from 95.38% to 39.02%. CATL acquired a 23.99% stake, while the remaining shares were held by various investment entities. Although Huawei did not become a shareholder, it collaborated closely with Avatr, providing comprehensive technological solutions.[3][4]

In August 2022, Avatr initiated its Series A funding round, attracting three additional investors supported by Chinese private enterprises and local governments. The total financing scale reached nearly 5 billion yuan. As a result, Changan Automobile's ownership stake increased from 39.02% to 40.99%. CATL, which did not participate in the capital increase, saw its ownership stake diluted from 23.99% to 17.10%.[5]

In August 2023, Avatr completed its Series B financing round, achieving a valuation of nearly 20 billion RMB. Changan Automobile, China Southern Industrial Asset Management, and Liangjiang Industrial Fund continued to increase their investments. Additionally, it attracted state-owned capital from Chongqing Industrial Investment Fund, China Everbright Investment, and Guangkai Holdings. Changan Automobile remains the largest shareholder, with its ownership stake unchanged at 40.99%. CATL is the second-largest shareholder, with its ownership stake decreasing from 17.10% to 14.10%, and Chongqing Chengan Foundation, a state-owned foundation, is the third-largest shareholder, with its ownership stake decreasing from 13.55% to 11.17%.[6]

In August 2024, Avatr announced an investment in Huawei's subsidiary, Yinwang (Shenzhen Yinwang Intelligent Technology Co., Ltd.), acquiring a 10% stake for RMB 11.5 billion and becoming Yinwang's second-largest shareholder.[7] Yinwang, formerly known as Huawei Intelligent Automotive Solution, serves as Huawei's automotive business unit. In the second half of 2023, Huawei opted to operate its business unit independently and open it to public equity investment.[8] Avatr became the first company to invest in Huawei's new unit, Yinwang. This transition upgraded the previous "HI" (Huawei Inside) model to the enhanced "HI Plus" model, allowing Huawei to play a more integral role in defining Avatr's products.[9]

In December 2024, Avatr has secured over 11 billion yuan (1.5 billion USD) in its Series C financing round. After the capital increase, Changan Automobile's shareholding ratio remained unchanged at 40.99%, China Southern Assets' shareholding ratio decreased from 7.81% to 6.34%, Anyu Fund's shareholding ratio was 8.81%, and BoCom Investment's shareholding ratio increased from 1.76% to 3.34%.[10][11]

Products

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The first Avatr vehicle was the large, fully electric SUV E11, which stands out from competing designs with a long range on one charge of approximately 700 km (430 mi).[12] The start of production of the first model for the domestic Chinese market was scheduled for the second quarter of 2022, with deliveries of the first units scheduled for the end of the same year.[13] Finally, the production model called Avatr 11, with the letter "E" finally removed from its name, officially debuted in August 2022.[14] Sales of the luxury electric car began in November 2022, a year after the official launch of the new company, positioning it as a premium product with a price tag of $51,800.[15][16] At the same time, Avatr Technology expressed its willingness to expand its model offer by 4 new cars by 2025. The first model that is part of the expansion of the Avatr brand's is the executive car, dubbed the 12, which was officially presented in July 2023.[17]

Main article: List of Changan Automobile vehicles

Current

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  • Avatr 11 (2022–present), mid-size SUV, BEV/REEV
  • Avatr 12 (2023–present), mid-size sedan, BEV/REEV
  • Avatr 07 (2024–present), mid-size SUV, BEV/REEV
  • Avatr 06 (upcoming), mid-size sedan, BEV/REEV
  • Avatr 11
    Avatr 11
  • Avatr 12
    Avatr 12
  • Avatr 07
    Avatr 07

CHN platform

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Avatr claims to integrate the strengths of Changan Automobile, Huawei, and CATL to establish the "CHN" cooperation model. According to Avatr, the smart electric vehicle technology platform CHN utilizes a six-layer architecture: the mechanical layer, energy layer, electronic and electrical architecture layer, vehicle operating system layer, vehicle function application layer, and cloud big data layer. The company asserts that products developed on this platform feature high integration, scalability, performance, endurance, security, computing power, intelligence, and adaptability. The platform reportedly supports the development of models with up to a 3,100mm wheelbase, accommodates various vehicle types such as sedans, SUVs, MPVs, and crossovers, and is compatible with both rear-wheel drive and four-wheel drive configurations.[18]

Sales

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Avatr sales data[19][20]
Year Sales
2022 757
2023 27,700
2024 73,606[21]

See also

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References

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  1. ^ "NIO-linked Avatr Technology sets up new energy subsidiary". Retrieved 17 November 2021.
  2. ^ "Changan introduces all-new electric car brand". Retrieved 17 November 2021.
  3. ^ "长安旗下阿维塔科技增资扩股落定：宁德时代将持股约24%！ - OFweek锂电网". libattery.ofweek.com. Retrieved 15 September 2023.
  4. ^ "纠结的长安新能源战略：阿维塔、深蓝变"干儿子"，再造"亲儿子"启源 - 经济观察网 － 专业财经新闻网站". www.eeo.com.cn. Retrieved 15 September 2023.
  5. ^ "阿维塔A轮融资：长安汽车增资超十亿，宁德时代、蔚来未参与_中青在线-汽车频道". auto.cyol.com. Retrieved 15 September 2023.
  6. ^ "鸿蒙座舱赋能后，阿维塔再融资30亿元". www.guancha.cn. Retrieved 15 September 2023.
  7. ^ "阿维塔_阿维塔汽车官网_懂你的智慧化身". www.avatr.com. Retrieved 22 August 2024.
  8. ^ 上海证券报 (21 August 2024). "车企出资百亿"牵手"引望 华为重塑智能汽车"朋友圈"". finance.sina.com.cn. Retrieved 22 August 2024.
  9. ^ 财联社 (20 August 2024). "阿维塔入股华为车BU正式官宣！后续仍将开放股权 HI模式能否迎来转折？". finance.sina.com.cn. Retrieved 22 August 2024.
  10. ^ "111亿元！阿维塔完成C轮融资，拟于2026年IPO！". www.stcn.com. Retrieved 18 December 2024.
  11. ^ Ho, Lawrence (17 December 2024). "Avatr secures over 1.5 billion USD investment in its Series C financing round". CarNewsChina.com. Retrieved 18 December 2024.
  12. ^ "AVATR E11 to nowe auto elektryczne, które opracowywało m.in. Huawei" (in Polish). 16 November 2021. Retrieved 17 November 2021.
  13. ^ "Huawei, CATL i Changan Automobile prezentują AVATR E11: elektryczny crossover o zasięgu 700 km i przyspieszeniu do 100 km/h w mniej niż 4 sekundy" (in Polish). Retrieved 17 November 2021.
  14. ^ "Avatr launches first model in China for €50,700". Retrieved 26 November 2022.
  15. ^ "Auto elektryczne z salonu Huawei. Firma rusza ze sprzedażą elektrycznego Avatr 11" (in Polish). 20 November 2022. Retrieved 26 November 2022.
  16. ^ "Avatr 11 is officially the first car with Huawei Inside".
  17. ^ "Avatr 12 EV Is A Sleek Luxury Sedan With A Hatch Powered By Huawei". Retrieved 17 August 2023.
  18. ^ "阿维塔发布全新一代智能电动汽车技术平台CHN". Avatr Technology. Retrieved 22 December 2023.
  19. ^ "11个月销量8323辆：阿维塔会成为弃儿吗？". www.sohu.com. Retrieved 3 October 2023.
  20. ^ "阿维塔科技销量查询，阿维塔科技销量排名，阿维塔科技历史销量查询 - 车主之家". xl.16888.com. Retrieved 3 October 2023.
  21. ^ "快讯_汽车之家". www.autohome.com.cn. Retrieved 1 January 2025.
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