Avitak announced today that its new round of valuation has increased to 6.26 billion yuan, achieving nearly seven-fold high-speed growth since the disclosure of 788.2 million yuan valuation after its first public equity financing on November 5, 2021.
On March 11, 2022, Avitak completed its first round of financing settlement and officially changed from a subsidiary of Changan Automobile to a joint venture company, which enhances its operational independence and accelerates the highly market-oriented operation process. The significant growth in this round of valuation is due to the inclusion of 2.42 billion yuan capital from the first round of strategic financing and the adjustment of Avitak’s future sales and income expectations to a certain extent based on income method evaluation. Currently, Avitak is methodically promoting the A round of financing.
After the equity financing and expansion transaction of Avitak on November 5, 2021, Changan Automobile holds 39.02%, CATL Holdings 28.99%, Chongqing Liangjiang Fund Holdings 20.88%, Southern Asset Holdings 9.97%, and NIO Holdings 1.14%.
Huawei’s rotating chairman Xu Zhijun said:
“Through the Huawei Inside model, Huawei provides a full-stack intelligent automobile solution for all Avitak vehicle models. Huawei has invested nearly a thousand engineers and worked with the Avitak team to jointly develop a new model – Avitak 11, bringing users an extremely intelligent travel experience.”
Dr. Zeng Yuqun, Chairman of CATL, said:
“As a global leader in new energy innovation technology companies and the second largest shareholder of Avitak, CATL has full confidence in the long-term development of Avitak and will also provide leading technology and resource support for Avitak’s intelligent electric vehicles. At the same time, we will work hand in hand with the friends of Avitak’s ecosystem to create a more low-carbon and intelligent new energy travel life for end-users.”
On April 8th, Avitak 011 made its debut, a model jointly designed by Matthew M. Williams, co-founder of 1017 ALYX 9SM brand and creative director of Givenchy, with a global limited edition of 500 units:
Avita 11 is equipped with Huawei’s HI (Huawei Inside) full-stack intelligent automotive solutions, including a super-sensing system and supercomputing platform with 3 LIDARs, 6 millimeter-wave radars, 12 ultrasonic radars, 13 cameras, and 400 Tops of high computing power. It can achieve advanced intelligent driving for complex urban road conditions in the future.
The Avita 11 will be equipped with the Ningde era’s new generation of CTP ternary lithium battery packs, with a maximum range of over 700 kilometers, and a 750 V high-voltage charging system that can provide 240 kW of ultra-high-power fast charging. The battery can be charged from 30% to 80% in 15 minutes.
The Avita brand was launched globally in November 2021. Within just six months, Avita 11 has completed the white-body offline production and a series of extreme cold and durability tests, entered the third round of trial production, and offline tested more than 100 vehicles.
In the second quarter of 2022, Avita 11 will be officially launched. In the third quarter of 2022, Avita 11 will be put into mass production and complete the first batch of deliveries.
At the same time, Avita Technology is actively working with Huawei to prepare for entry into Huawei’s city stores. Avita Technology plans to open its first store in the second quarter, covering cities such as Chongqing, Shenzhen, Beijing, Hangzhou, Chengdu, Guangzhou, and expand its sales network to one hundred cities this year to steadily promote its four-year and four-car medium- and long-term strategy.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.