AVATR secures over 11 billion yuan in Series C financing

Beijing (Gasgoo)- On December 17, premium new energy vehicle brand AVATR announced the successful completion of its Series C financing round, which raised for the company over 11 billion yuan.

Photo credit: AVATR

Key investors include Changan Automobile, a Yufu-affiliated fund, a Southern Asset Management-related fund, a SDIC-backed fund, CCB Investment, and other strategic and market-based entities.

With this new funding, AVATR plans to accelerate the development of upcoming vehicle models, strengthen brand building, and expand its presence overseas. The company also confirmed plans to go public with an IPO targeted for 2026.

As part of this round, Changan Automobile will invest 4.55 billion yuan, maintaining its 40.99% stake. Other planned contributions include 400 million yuan from Southern Asset, 2.8 billion yuan from Chongqing Anyu Fund, and 700 million yuan from CCB Investment.

After the capital increase, Southern Asset will see its stake in AVATR diluted from 7.81% to 6.34%. Chongqing Anyu Fund will hold 8.81% of AVATR, while CCB Investment's stake will rise from 1.76% to 3.34%.

AVATR currently offers models such as the AVATR 11, 12, and 07. From January to November 2024, the company delivered 62,539 vehicles in total. Looking ahead, AVATR aims to achieve annual sales of 220,000 vehicles by 2025.