AVATR Completed the Series B Funding with Estimated Value of RMB 20 Billion

· AVATR completed the series B funding as scheduled, raising funds of RMB 3 billion, and hitting up to RMB 20 billion valuation
· The increasing state-owned capital investment facilitates AVATR’s R&D of new models , branding and sales network development
· Expedited network development, targeting at 350 points of sale by year end to provide better experience, lower cost, and more efficient service for customers
· AVATR 11 Harmony Edition has officially launched in August, and AVATR 12 made its global premiere at IAA Mobility on September 4 in Munich. The plan to roll out “Four Models in Four years” is on track.

August 30, 2023 (Chonqing) — AVATR Technology announced completion of the series B funding, raising RMB 3 billion and hitting up to RMB 20 billion valuation. Chang'an Automobile, Southern Capital, Liangjiang Industry Capital increased their investment in this round, in conjunction with Chongqing Industry FOF, BOCOM Financial Asset Investment and GDD Holding Group. Despite the background of the current inactive capital market and narrowing of EV (Electric Vehicle) financing channels, AVATR’s successful funding fully showcased market recognition of the high-speed and high-quality achievement and potential of AVATR Technology.


Mr. Tan Benhong, Chairman and CEO of AVATR Technology, stated: “As a long-termist, while striving to refine its products and building the brand, AVATR insists its standard for investors – in favor of mid-to-long term development. Only in this way can AVATR maintain its strategic focus and steady development and achieve breakthrough on the SEV (Smart Electric Vehicle) market.”

Thanks to the holistic empowerment from Chang’an Automobile, Huawei and CATL, AVATR Technology puts together the best industry resources and thrivingly positions itself on high-end SEV market with only 1/10 resources and 1/2 time of other OEMs. It only took 13 months for AVATR Technology from launching the brand to delivering first model, from the first partner conference to more than 200 showrooms nationwide. The advantage of asset-light operation stands out and the capital utilization efficiency ranks top in the industry.


Up to now, 12,000 units of the first model AVATR 11 have been delivered, with an average price of RMB 360,000, and its dual-motor version even exceeded RMB 400,000, securing its foothold in the first tier of high-end RMB 300,000 pure electric SUV market. A few days ago, AVATR 11 Harmony Edition was officially launched with the starting price of RMB 280,000. The new version features customized Harmony cabin, Huawei advanced intelligent driving system ADS (Autonomous Driving Solution) 2.0, offering sportier look, more premium interior and longer driving range. The first mid-large sized sedan AVATR 12 has be revealed at IAA Mobility on September 4 and is expected to be delivered within this year.


With the accomplishment of series B funding, AVATR Technology will further accelerate its R&D, design, branding and sales network development. According to the plan, AVATR Technology shall complete 350 points of sale by the end of 2023 and live up to its “Four Models in Four Years” product blueprint by 2024. 

Disclaimer: All functions and configurations mentioned in this article do not constitute any form of promise for the real vehicle. Please kindly refer to the product configuration table officially released, for the actual configuration and functions.