Changan

Avatr closed a RMB 3 billion Series B financing round in August, bringing its post-investment valuation to nearly RMB 20 billion.

The Deepal S07 and Deepal L07 received 6,452 pre-orders in the first 45 hours after the start of pre-sales, ahead of the start of formal sales.

Changan's production facility in Thailand will introduce models from sub-brands Deepal, Avatr, and Qiyuan, with an annual capacity of 100,000 units in the first phase.

Deepal delivered 15,513 vehicles in October, taking January-October deliveries to 102,417 vehicles.

Avatr, which was called Changan Nio a few years ago, has officially launched the Avatr 12 with a starting price of RMB 300,800.

The Thailand Board of Investment has issued an investment certificate to Changan, which will invest around $240 million in a NEV production plant in Thailand.

The Qiyuan A07 is available in three EREV variants and two BEV variants, a strategy that has been proven by local EV makers to be more effective in gaining sales than just offering BEVs.

Deepal's SUV model S7 delivered 10,039 units and SL03 sedan 4,697 units in August.

Avatr's post-investment valuation reached RMB 20 billion, and Nio's stake in the company dropped from 0.81 percent to 0.67 percent.

Qiyuan's product matrix will include the A-series, Q-series, and E0-series, with four models to be released within this year, including the A05, A06, A07, and Q05.