Changan Automobile announced on Thursday that Avatr Technology, an electric vehicle enterprise jointly established by Changan, Huawei and CATL, has completed a capital increase and share expansion deal.
A new car brand called "Changan Automobile DeepBlue" appeared on Chinese social media platform Weibo on Tuesday, with the official name "Chongqing Changan New Energy Vehicle Technology Co., Ltd."
Avatr Technology, established jointly by Changan Auto, Huawei and Contemporary Amperex Technology Co., Limited (CATL), announced on Thursday a limited-edition SUV called the Avatr 011 alongside Givenchy's creative director.
The first round of financing for Avatr Technology has been completed, as the firm's registered capital has increased from 288 million yuan ($45.2 million) to 1.172 billion yuan.
AVATR 11, the first model of the joint venture between Huawei, CATL, and Changan Automobile, was revealed by China's Ministry of Industry and Information Technology last Sunday.
Chongqing Changan New Energy Vehicle Inc. (Changan NEV) on Monday announced the completion of round-B financing totaling 4.977 billion yuan ($786.5 million).
Changan Auto’s Avatr Technology launched its subsidiary brand officially, AVATR, as the automaker’s high-end EV line and unveiled the brand’s first EV model, the AVATR 11, in Shanghai on Monday.
Avatr Technology (Chongqing) Co., Ltd. plans to secure finances worth 2.42 billion yuan ($378 million) with three new investors, including Chinese battery giant CATL.
United States had reportedly approved license applications worth hundreds of millions of dollars from suppliers, allowing them to sell chips for auto components to Huawei.
At the Changan Automobile Technology Ecological Conference held on August 24, a new high-end intelligent mid-sized all-electric SUV built by Avatr Technology was shown.
Today, OPPO unveiled its MagVOOC magnetic flash charging technology. Three new devices were launched including a magnetic wireless power bank, a charger and a magnetic wireless charger.
China’s automotive industry is aiming to double down on efforts to peak carbon dioxide (CO2) emissions by 2028 and achieve near-zero carbon emissions by 2050, a full decade before the country’s 2060 carbon neutrality goal.
Chinese telecom giant Huawei announced on Monday that it will invest more than $1 billion in researching and developing self-driving and electric vehicles this year.
Chinese smartphone maker Huawei has denied that the company is planning to design an original electric vehicle (EV) or produce its own branded car, refuting a Reuters report which cited people claiming knowledge on the matter.
The race to become the leader of clean energy vehicles in the world’s largest auto market is on, with more and more tie-ups established between China’s tech giants and traditional automakers.
