AVATR Completes Over 11.0 Billion Yuan in Series C Financing and Accelerates Its New Journey

On the evening of December 17th, AVATR officially announced that it had completed over 11.0 billion yuan in Series C financing. This round of financing was jointly funded by Changan Automobile, funds affiliated with Chongqing Yufu Asset Management Group, funds affiliated with China South Industries Asset Management Co., Ltd., funds affiliated with State Development & Investment Corporation, Bank of Communications Investment Co., Ltd., and other strategic and market-oriented investors.

AVATR Technology, a product of the powerful alliance among Changan Automobile, Huawei, and CATL, has demonstrated strong resilience and innovative capabilities since its establishment. Huawei's intelligent driving capabilities, CATL's high-quality batteries, and Changan's vehicle manufacturing expertise have jointly laid a solid foundation for AVATR's products. It has already launched multiple models such as the AVATR 07, 11, and 12, achieving a comprehensive coverage of pure electric and extended-range powertrains to meet the diverse needs of consumers.

In terms of market performance, AVATR has achieved remarkable results. From January to August 2024, AVATR Technology's operating revenue exceeded 7.0 billion yuan. In November, it achieved a monthly sales volume of 11,579 vehicles, representing a year-on-year growth of over 180%, and its monthly sales volume has exceeded 10,000 for two consecutive months, reflecting the high market recognition it has received. Moreover, AVATR has not only witnessed a rising sales volume in the domestic market but also been actively expanding into overseas markets. Currently, it has already entered four major overseas markets, namely the ASEAN, the Commonwealth of Independent States, the Middle East and Africa, and Latin America. It has signed contracts with 55 channel partners, covering 25 countries and regions, and plans to enter the European market in 2026.

In terms of technological cooperation, the partnership between AVATR and Huawei has been continuously deepened. In August this year, AVATR officially invested in Huawei's subsidiary "InWing" and holds a 10% stake, becoming the second-largest shareholder of InWing. On December 12th, AVATR also signed a comprehensive and in-depth strategic cooperation agreement with Huawei. The two parties will conduct in-depth cooperation in product development, marketing, and ecological services to jointly create the next-generation series of models based on a new architecture and with leading technologies, bringing users a more advanced intelligent mobility and lifestyle experience. AVATR is also the only brand that comes standard with Huawei's full-stack intelligent vehicle solutions across its entire product line and is always the first to upgrade and adopt Huawei's new technologies.

The completion of this Series C financing is of great significance to AVATR. It not only injects new vitality and resources into AVATR but also further optimizes its shareholder structure, supporting its high-speed development in the future. AVATR will mainly use these funds to enhance its intelligent capabilities, accelerate the research and development and design of subsequent models, build its brand, and expand overseas, accelerating the continuous creation of its core competitiveness in the new luxury segment for both current operations and the future.

Meanwhile, AVATR has already started the preparations for its listing and plans to go public through an IPO in 2026. This move will open up greater possibilities for its future development and is expected to help AVATR stand out in the global intelligent electric vehicle market and further enhance its market influence and industry status.