Avatr Files for Hong Kong IPO at Valuation of USD 4.6 Billion
Want to read in a language you're more familiar with?
Premium EV brand Avatr Technology, backed by Changan, CATL, and Huawei, has filed for a Hong Kong IPO. The filing reveals rapid sales growth and a valuation of approximately $4.6 billion.
Premium smart EV brand Avatr Technology—formerly known as Changan NIO—has submitted its IPO prospectus to the Hong Kong Stock Exchange, formally launching its listing process.
Headquartered in Chongqing, Avatr is jointly backed by Changan Automobile, CATL, and Huawei. Its lineup spans SUVs and sedans, with four mass-production models currently on sale: Avatr 11, 12, 07, and 06, all available in both pure electric and extended-range variants. Prices range from RMB 200,000 (approx. USD 28,571) to RMB 700,000 (approx. USD 100,000).
Supported by its shareholders and new product launches, Avatr has seen rapid growth. Vehicle deliveries rose from 20,021 units in 2023 to 61,588 units in 2024, reaching 56,729 units in the first half of 2025 alone. Revenue increased accordingly, from RMB 5.65 billion (approx. USD 807 million) in 2023 to RMB 15.20 billion (approx. USD 2.17 billion) in 2024, and RMB 12.21 billion (approx. USD 1.74 billion) in the first half of 2025. The company has yet to achieve profitability.
Since rebranding in 2021, Avatr has completed multiple funding rounds. Its Series C round in June 2025 raised approximately RMB 11 billion (approx. USD 1.57 billion), valuing the company at around RMB 32 billion (approx. USD 4.57 billion). Before the IPO, Changan Automobile remains the controlling shareholder with a 40.99% stake, while CATL holds 9.17%.
Avatr plans to enter over 50 countries in 2025 and launch four fully co-developed Huawei models in 2026. Its long-term goal is to operate in 80+ countries with more than 700 global sales outlets by 2030.
Source：DsstCapital
