أفاتر, Changan’s Electric Vehicle Subsidiary, Secures $410 Million in Fresh Funding

أفاتر Technology, the premium سيارة كهربائية (EV) subsidiary under Changan Automobile, has successfully concluded a significant Series B funding round, injecting fresh capital into its future expansion plans. The company’s latest funding round, amounting to RMB 3 مليار ($410 مليون), has propelled its post-investment valuation to an impressive nearly RMB 20 مليار.

في إعلان حديث على Weibo, Avatr Technology expressed its commitment to enhancing customer experiences and aspiring to establish itself as a globally recognized brand specializing in luxury smart EVs. The funding infusion marks a crucial step towards realizing this vision.

Among the new investors joining the ranks are BOCOM International Equity Investment Management, in addition to the continued support from longstanding shareholders such as Changan and South Industry Assets Management.

Originally established as Changan Nio through a collaboration between Changan and Nio (رمزها: نيو) في يوليو 10, 2018, Avatr Technology has evolved independently. While Nio’s ownership interest has diminished to below 1 المائه, the company has emerged as a distinctive entity in the EV landscape.

Undergoing a rebranding effort in August 2021, Avatr Technology transitioned from Changan Nio to its current identity, affirming Changan’s leadership and enlisting Huawei and CATL to steer smart car and battery solutions.

After overcoming developmental challenges, Avatr Technology achieved a significant milestone with the official launch of its inaugural model, أفاتر 11 سيارات الدفع الرباعي, on August 9, 2022. Deliveries commenced at the close of the preceding year, with the introduction of the limited-edition Avatr 011 following suit in February of the subsequent year.

لكن, Avatr Technology has faced sales performance fluctuations, with figures reported by the China Passenger Car Association (سي بي سي إيه) indicating sales of 1,200 units in July and a consistent trend of below 2,000 units for the past three months.

While Avatr Technology’s Weibo post refrained from disclosing extensive details regarding the recent funding, a complementary stock exchange statement from Changan, released the previous night, furnished additional insights.

Maintaining its stake unchanged at 40.99 percent post the funding round, Changan continues to hold a dominant position. كاتل, a key stakeholder, experienced a marginal decrease from 17.10 في المئة إلى 14.10 المائه, retaining its position as the second-largest shareholder.

لا سيما, Nio’s ownership stake in Avatr Technology underwent further dilution, decreasing from 0.81 في المئة إلى 0.67 percent as a result of the recent developments.