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.
 | |
Native name | 阿维塔科技(重庆)有限公司 |
|---|---|
| Company type | State-owned joint venture |
| Industry | Automotive |
| Predecessor | Changan-Nio |
| Founded | 2018 |
| Founders | |
| Headquarters | , China |
Area served | China |
Key people | Chen Zhuo (president) |
| Products | Automobiles |
Production output |  73,606 vehicles (2024) |
| Owner |
|
Number of employees | 1,000+ |
| Website | www.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. | |
History
Changan-Nio
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
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
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]
Current
- 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 12
Avatr 07
_Showcar_Avatr_11_No-plate_2024-05-25_(1).jpg)
_Showcar_Avatr_12_No-plate_2024-05-26.jpg)
CHN platform
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
See also
References
External links
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