Premium electric vehicle (EV) brand Avatr Technology, formerly Changan NIO and now backed by major stakeholders including Changan Automobile, CATL, and Huawei, has officially filed for an initial public offering (IPO) on the Hong Kong Stock Exchange.
Avatr’s IPO filing highlights a period of significant growth. From 20,021 units sold in 2023 to 61,588 units by 2024, the company saw its sales more than triple within two years. Even as of the first half of 2025, Avatr managed to deliver 56,729 vehicles, showcasing steady progress.
Revenue also followed this upward trajectory, increasing from RMB 5.65 billion in 2023 to RMB 15.20 billion in 2024, and reaching RMB 12.21 billion in the first half of 2025 alone.
The Avatr lineup currently includes four models: the Avatr 11, 12, 07, and 06, all featuring both pure electric and extended-range variants. Prices range from RMB 200,000 to RMB 700,000.
Avatr aims to expand its reach globally, entering over 50 countries in 2025 and launching four fully co-developed models with Huawei in 2026. By 2030, the company plans to operate in more than 80 countries and establish over 700 global sales outlets.
Despite its rapid growth, Avatr has yet to report a profit, though it recently completed a Series C funding round raising approximately RMB 11 billion. Changan Automobile remains the largest shareholder with a 40.99% stake, followed by CATL with 9.17%.
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