Gasgoo Munich- Qijing Auto has secured over 1 billion yuan in a strategic financing round, drawing backing from heavyweights including CATL and Bosch’s venture capital arm, according to industry intelligence platform Gasgoo. The round also saw participation from state-owned investors such as CSC Financial and Shenzhen SIHC Capital, alongside the establishment of an employee stock ownership platform to advance mixed-ownership reform.
This injection prioritized industrial capital. CATL, the global leader in power batteries, offers stable supply chain security and technical support, while Bosch’s Botou Capital—deeply embedded in the new-energy vehicle sector—will help drive technological and industrial synergies. The influx of diverse capital not only diversifies the equity structure but also signals strong confidence from the capital markets in Qijing’s potential.
Image Source: Qijing Auto
Prior to the investment, Qijing Auto was wholly owned by GAC Group, which held about 71.43%, and GAC AION, with 28.57%. Following the capital injection, their combined stake has been diluted to roughly 70%, though they retain controlling interest. Moving forward, the company plans to implement a market-oriented operating mechanism to enable autonomous decision-making and independent commercial operations.
The fundraising proceeded quickly. Listed on the Guangdong United Assets and Equity Exchange in late January, the deal closed in just over three months. Proceeds will be allocated to model development and channel construction. On March 24, the company completed its business registration name change, unifying its brand and operating entity names.
As a premium smart EV brand co-created by GAC and Huawei, Qijing Auto is advancing rapidly. The partners signed their agreement in November 2024; by March 2025, GAC had invested 1.5 billion yuan to establish the company, with the brand launching in September. This March, the Qijing brand and its first model, the GT7, made their debut as pre-orders opened. Two new vehicles are planned for mid-2026. This latest capital injection provides the financial and resource backing needed to accelerate product launches and market expansion.
