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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; 6 years ago (2018)
Founders
Headquarters
Chongqing
,
China
Area served
China
Key people
President: Chen Zhuo
ProductsAutomobiles
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 automotive manufacturing company headquartered in Chongqing. Avatr Technology is a premium EV brand Changan Automobile joint-ventured with multiple Chinese domestic foundations, technology supported by Huawei and battery provider CATL. The company was founded in 2018.

Avatr showroom in Shenzhen, China

History

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The origin of Changan-Nio

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In 2018, Changan intended to create a new company focused on the development of modern, technologically advanced electric cars in cooperation with Nio. For this purpose, a joint venture company Changan-Nio with a 50:50 share ratio was established in 2018, but two years later, the alliance did not materialize because of the withdrawal of Nio.[1]

The birth of Avatr

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After the withdrawal of Nio, the main shareholder Changan engaged the giants of Chinese modern technologies - the battery manufacturer CATL and the technology corporation Huawei,[2] and renamed the Changan-Nio to Avatr Technology in May 2021.

In November 2021, Avatr Technology launched its first round capital increase and share expansion Changan Automobile's ownership diluted from 95.38% to 39.02%. CATL held 23.99%, and the rest is hold by multiple investment foundations. Huawei is not a shareholder, but collaborated closely with Avatr, providing it with a comprehensive technology solution. [3][4]

In August 2022, Avatr launched the Series A round funding, after introducing three more investors backed by Chinese private companies and local governments, Avatr Technology reached overall financing scale of nearly 5 billion yuan. Changan Automobile's ownership stake has increased from 39.02% to 40.99%, while CATL did not participate in the capital increase, its ownership stake being 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 Chongqin Cheng'an 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 Technology announced that it would invest in Huawei's subsidiary "Yinwang" (Shenzhen Yinwang Intelligent Technology Co., Ltd.), accounting for 10% of the shares, with a price of RMB 11.5 billion, becoming Yinwang's second largest shareholder.[7] Yinwang formerly known as Huawei Intelligent Automotive Solution, the automobile business unit of Huawei. In the second half of 2023, Huawei decided to operate the business unit independently and open equity investment to the public.[8] With Avatr becoming the first company to invest in Yinwang, the previous "HI"(Huawei Inside) model has been further upgraded to a new "HI Plus" model, enabling Huawei to get more deeply involved in Avatr's product definition.[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 brings together the strengths of Changan Automobile, Huawei, and CATL to create the "CHN" cooperation model. The smart electric vehicle technology platform CHN adopts a six-layer architecture distribution: mechanical layer, energy layer, electronic and electrical architecture layer, vehicle operating system layer, vehicle function application layer and cloud big data layer. Products born on the platform have the capabilities of high integration, high scalability, high performance, high endurance, high security, strong computing, high intelligence, and evolvability. The platform supports the development of up to 3100mm long wheelbase models, can be extended to various models such as sedans, SUVs, MPVs, crossovers, etc., and is compatible with rear-wheel drive and four-wheel drive transmission forms.[18]

Sales

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Avatr sales data[19][20]
Year Sales
2022 757
2023 27,700

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.
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