Changan

Avatr 11 will be officially launched in the second quarter of next year, with mass production and first deliveries in the third quarter.

The E11 model is positioned as a mid-size SUV, and its design prototype rolled off the production line earlier this year.

Changan will launch its next-generation premium brand of intelligent new energy vehicles on August 24 in partnership with partners including Huawei, the company's chairman Zhu Huarong said.

Avatr was previously known as Changan Nio, with Changan holding 95.38 percent and Nio Shanghai holding 4.62 percent.

With the rapid development of China's new energy vehicle industry, legacy automakers are also investing heavily in technology.

Changan said that it plans to launch five models based on the CHN architecture over the next five years, the first of which, codenamed E11, will feature the Huawei Inside smart car solution.

Changan, which trades in Shenzhen, is up more than 40 percent so far this month.

In the future, 80 percent of local brands and 90 percent of new car makers in China will die, said Zhu Huarong, chairman of legacy carmaker Changan Automobile.

Changan Nio has changed to a new name that no longer carries the word "Nio," marking the end of the legacy carmaker's efforts to explore joint ventures with new carmakers.

Chongqing-based Changan Automobile, in partnership with Huawei and CATL, will launch its premium new energy brand as soon as this month, yicai.com reported Wednesday.