Avatr, Changan's Premium EV Brand, Plans Hong Kong IPO for Global Push
Avatr Technology, the premium electric vehicle brand backed by state-owned automaker Changan Automobile, Huawei Technologies Co. and battery giant CATL, plans to file for a Hong Kong initial public offering in the fourth quarter of 2025 to fuel its global expansion and charging network development.
The planned listing, a core component of the company’s “Strategy 2.0,” aims to raise approximately $1 billion. A successful IPO would establish Avatr as another publicly traded entity within the broader Changan Automobile group, underscoring the parent company's strategy to capitalize on its high-end EV ventures amid intensifying competition.
The move follows a period of strong sales growth for the automaker, which saw deliveries in the first eight months of 2025 surge 119.18% year-on-year. The company is simultaneously raising its overseas sales targets and deepening its technological collaboration with Huawei as it seeks a larger share of the global premium EV market.
Founded on a unique partnership model, Avatr combines Changan's vehicle manufacturing capabilities, Contemporary Amperex Technology battery leadership, and Huawei's full-stack intelligent vehicle solutions, from smart cockpits to autonomous driving.
Surging Sales and Model Performance
Avatr has gained significant market traction in 2025, with cumulative sales from January to August reaching 79,711 vehicles. Sales in August alone hit 10,565 units, a 184.62% increase from the same month last year.
The 2026 Avatr 07, launched on September 20 of this year, has become a key sales driver, accounting for 30,717 units from January to August. The model, built on an 800V high-voltage platform and offered in both extended-range and pure-electric versions, is priced between RMB 219,900 yuan (US$30,300) and RMB 279,900 yuan. Other models also contributed to the sales volume, with the Avatr 06 selling 24,150 units, the Avatr 12 selling 13,050 units, and the Avatr 11 selling 2,485 units during the same period.
A Partnership-Driven 'CHN' Model
Avatr Technology leverages what it calls the "CHN model," a strategic collaboration between its three key backers. Chongqing Changan Automobile leads vehicle research, development, and manufacturing. CATL supplies the advanced power batteries, while Huawei provides comprehensive intelligent solutions through its "Huawei Inside" (HI) model.
The partnership with Huawei is set to deepen further through a "HiPlus" co-creation model. A joint team of nearly 1,000 members is already working at Avatr’s Chongqing headquarters, with the first product from this enhanced collaboration expected to debut in the second half of 2026. This technological synergy forms the basis of Avatr's new-generation EV platform, focusing on a new architecture, powerful computing, and high-voltage fast charging.
Global Ambitions and Product Pipeline
The funds from the proposed IPO are earmarked for an aggressive international expansion and a robust product roadmap. Having entered markets in ASEAN, the Middle East, and North Africa in 2024, Avatr plans to expand its presence from 25 to 50 countries by the end of 2025 and has raised its overseas sales target for the year to 15,000 vehicles.
Looking ahead, the company plans to launch a total of 17 new models by 2030, covering segments such as MPVs and sports cars. At the 2025 Munich Auto Show, Avatr unveiled its VISION XPECTRA concept car, previewing a future design language for a vehicle expected to launch in 2026.
Corporate Background
Headquartered in Chongqing with offices in Shanghai and Munich, Avatr Technology was originally established as a joint venture between Changan and Nio in 2018. It was rebranded in May 2021 and officially launched as Changan’s high-end EV marque in August of that year.