With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.
Avatr Technology files for a public listing in Hong Kong, setting its sights on completing the IPO by the second quarter of 2026
Avatr Technology, headquartered in Chongqing, China, recently submitted its listing prospectus to the Hong Kong Stock Exchange, with CITIC Securities and China International Capital Corporation Limited (CICC) serving as joint sponsors of the deal.
Formed through a partnership between Changan Automobile, Huawei, and CATL, Avatr is the first new energy vehicle manufacturer with central state-owned enterprise backing to seek a listing on the Hong Kong Stock Exchange.
According to financial disclosures in the prospectus, Avatr Technology generated CNY 12.208 billion in revenue in the six months ending June 30, 2025 — nearly doubling its intake from a year earlier.
Vehicle deliveries remained Avatr's core business, contributing CNY 11.49 billion during the period. The remaining CNY 718 million came from software-driven services including advanced driver-assistance systems, ecosystem services, after-sales operations, and component sales.
Leapmotor surpasses 2025 sales target early, raises its ambition to 1 million units in 2026
On November 27, Leapmotor confirmed it had hit its 500,000-unit objective well before year-end. Founder Zhu Jiangming used the announcement to unveil an even more aggressive goal: pushing deliveries to one million vehicles in 2026.
Speaking with media after the launch event for the Lafa 5, Zhu outlined the factors underpinning his confidence, the headwinds the company expects to face, and the product roadmap designed to sustain its growth trajectory.
Zhu acknowledged that short-term conditions remain difficult. Colder weather in November and December, combined with the phaseout of a five-year state interest subsidy, has effectively added around CNY 10,000 to the cost of buying a car — pressuring fourth-quarter sales across the market.
Even so, he argued that underlying demand has not fundamentally weakened. In his view, the drag from policy changes is temporary and the broader market should regain momentum over time.
Zhu expects overall auto sales in China — and new energy vehicle sales in particular — to edge higher in 2026. He believes NEVs could expand their market share by another five to ten percentage points next year, offering what he described as a meaningful window of opportunity.
What gives Leapmotor confidence, he said, is the company's increasingly balanced and scalable product lineup.
Zhu noted that the "3C" family — the C11, C10, and C16 — has continued to post strong results, with sales significantly outpacing last year. The B-series, including the B10 and B01, along with the compact T03, has also held up well. Taken together, he said, the B-series and C-series models plus the T03 are on track to collectively approach 600,000 units this year, reinforcing Leapmotor's momentum in a highly competitive market.
LUXEED delivers over 10,000 vehicles in November
On November 28, LUXEED announced that it delivered over 10,000 vehicles in November, topping this threshold for the second straight month, while firm orders have exceeded that level for three consecutive months.
LUXEED is a premium smart-EV marque jointly developed by Huawei and Chery Automobile. On August 7, 2025, Chery and Huawei's consumer business division formalized a "2.0" strategic partnership for the LUXEED brand during a signing ceremony in Shenzhen, China.
The expanded partnership ushers LUXEED into a new development stage, with more than CNY 10 billion earmarked for R&D and a 5,000-member engineering team planned to strengthen capabilities in driver-assistance technology and electric-powertrain technologies.
Earlier in the month, LUXEED announced that cumulative deliveries of the LUXEED R7 fastback SUV had surpassed 100,000 units — an important milestone for the fledgling brand's market performance.
