Avatr Closes $1.5 Billion in New Funding, Targets 2026 IPO
Avatr Closes $1.5 Billion in New Funding, Targets 2026 IPO
Investors in the financing included Avatr's parent company Changan, other existing investors, and new investors.Avatr closed over RMB 11 billion ($1.5 billion) in series C funding, with a goal of going public in 2026.
Avatr完成了超过RMb 110亿（15亿美金）的C轮融资，目标是在2026年上市。
Avatr Technology has closed a new round of funding and is targeting to go public within 2 years.
Avatr科技已经完成了一轮新的融资，并计划在两年内上市。
The electric vehicle (EV) company, which is backed by Changan Automobile, CATL, and Huawei, announced yesterday that it has closed its series C financing round, raising more than RMB 11 billion ($1.5 billion).
这家电动车（EV）公司得到了长安汽车、宁德时代和华为的支持，昨天宣布已完成C轮融资，筹集了超过RMb 110亿（15亿美金）。
Investors in the financing included Avatr's parent company Changan, other existing investors, and new investors.
融资的投资者包括Avatr的母公司长安，其他现有投资者以及新投资者。
With the completion of the series C financing, Avatr will have more adequate working capital to support efforts including accelerating the development of subsequent models, brand building, and overseas expansion, it said.
随着C轮融资的完成，Avatr将拥有更充足的流动资金，以支持包括加速后续车型开发、品牌建设和境外扩张等工作。
Avatr president Chen Zhuo announced on Weibo yesterday that the EV maker has initiated preparations for going public, targeting an initial public offering (IPO) in 2026.
Avatr总裁陈卓昨天在微博(临时代码)上宣布，该电动车制造商已开始为上市做准备，目标是在2026年进行首次公开募股（IPO）。
Separately, according to Changan's announcement yesterday, it will increase capital to Avatr by RMB 4.551 billion, other existing shareholders by RMB 3.9 billion, and other new shareholders plan to increase capital in the EV maker by a total of RMB 2.65 billion.
另外，根据长安的公告，昨天将向Avatr增资RMb 45.51亿，其他现有股东增资RMb 39亿，其他新股东计划向该电动车制造商总计增资RMb 26.5亿。
After the completion of the capital increase, Changan's stake in Avatr will remain unchanged at 40.99 percent and CATL's stake will be reduced from 14.1 percent to 9.17 percent.
在完成增资后，长安在Avatr的持股比例将保持不变，为40.99%，而CATL的持股比例将从14.1%减少至9.17%。
Avatr was originally founded as Changan Nio by Changan and Nio (NYSE: NIO) on July 10, 2018, when each held a 50 percent stake.
Avatr最初于2018年7月10日由长安和蔚来（纽交所：NIO）共同成立，双方各持有50%的股份。
On June 4, 2020, Changan increased capital in Avatr by RMB 90 million, increasing its shareholding to 95.38 percent, while Nio's shareholding was reduced to 4.62 percent.
2020年6月4日，长安对Avatr增资9000万人民币，使其持股比例提升至95.38%，而蔚来的持股比例减少至4.62%。
In May 2021, Changan Nio changed its name to Avatr, removing Nio from its name. Nio is no longer on Avatr's shareholder list.
2021年5月，长安蔚来更名为Avatr，去掉了蔚来这个名字。蔚来不再出现在Avatr的股东名单上。
Like other local EV makers, Avatr is also in the red.
与其他当地电动汽车制造商一样，Avatr也处于亏损状态。
From 2022 to the first half of 2024, Avatr has accumulated a net loss of RMB 7.1 billion, according to Changan.
根据长安的数据，从2022年到2024年上半年，Avatr累计净亏损达到71亿人民币。
Changan's goal is to see Avatr break even by the third or fourth quarter of 2025, Chen previously mentioned.
长安的目标是希望Avatr在2025年第三或第四季度实现盈亏平衡，陈之前提到过。
Avatr signed a deal with Huawei in August to buy a 10 percent stake in the latter's automotive unit Newcool for RMB 11.5 billion, making it the second-largest shareholder. Newcool was valued at RMB 115 billion in the deal.
Avatr在8月与华为签署了一项协议，以115亿人民币购买后者汽车部门Newcool的10%股份，使其成为第二大股东。此次交易中，Newcool的估值为1150亿人民币。
On December 12, Avatr signed a new agreement with Huawei for deep cooperation in areas including product development, marketing and eco-services.
12月12日，Avatr与华为签署了新协议，以在产品开发、市场营销和生态服务等领域进行深入合作。
($1 = RMB 7.2847)
(1美元 = 7.2847马币)
Avatr plugs into Nio's charging network
Avatr接入了Nio的充电网络