Latest news with #ChanganAuto
Associated Press
6 days ago
- Automotive
- Associated Press
New Central SOE Mechanism Upgraded, AVATR Enters A New Stage of High-quality Development
Chongqing, China, June 13, 2025 -- With the restructuring of China South Industries Group Corporation completed, Changan Auto officially became an independent central SOE under the direct supervision of the State-owned Assets Supervision and Administration Commission of the State Council. As the high-end new energy brand under Changan Auto, AVATR simultaneously entered the new central SOE operation system, marking a key leap in system optimization and strategic advancement. Changan Automobile and CATL serve as the first and second largest shareholders respectively, with Changan Automobile holding a 40.99% stake and CATL holding 14.1%. Following the implementation of the 'new central SOE' system, the synergy momentum of this open cooperative model will be further released, laying a solid foundation for AVATR's next stage of product evolution, technology implementation, and global expansion. Media experienced AVATR at Chongqing Auto Show Currently, AVATR has launched four major models over three years, covering both BEVs and REEVs. As of May 2025, AVATR's cumulative sales exceeded 150,000 units, with monthly deliveries surpassing 10,000 units for three consecutive months, an average selling price of RMB 270,000, securing its place among leading brands in the premium intelligent EV market. Leveraging the resource integration efficiency and organizational execution brought by the 'new central SOE' mechanism, the brand's product deployment and market responsiveness are expected to improve continuously. In terms of design, AVATR has always adhered to 100% original expression, forming a highly recognizable futuristic aesthetic design language. On the technology front, AVATR possesses leading technologies such as the self-developed 'Kunlun Intelligent REEV System' and 'Taihang Intelligent Chassis'. With the support of the new central SOE system, AVATR's original design and technological advantages will be further translated into market competitiveness, providing strong momentum for the brand's high-quality development. Media reviewed AVATR 06 On the capital side, AVATR completed a Series C financing exceeding RMB 11 billion in 2024, the largest single financing project for a Chinese smart car company that year. After entering the new central SOE system, the brand will gain more stable support in terms of institutional assurance and resource integration, further improving capital operation efficiency and strategic implementation capabilities. Media covered AVATR at Chongqing Auto Show Looking ahead, AVATR will accelerate the construction of a complete high-end intelligent product matrix under the 'new central SOE' system. In 2026, it will launch a million-level six-seat flagship SUV to further enhance the luxury attributes of its products. By 2030, it will release 17 all-new models, covering sedans, SUVs, MPVs, and sports cars. In overseas markets, AVATR plans to enter over 50 countries and regions in 2025, establish more than 160 sales channels, and aim for overseas sales of 15,000 units; By 2027, that number will increase to 60,000 units. In terms of global sales, AVATR is expected to exceed 800,000 units by 2030 and reach 1.5 million units by 2035. Media attended AVATR launch event At this new starting point as a 'new central SOE', AVATR will receive multi-faceted support in the system, talent, capital, and industrial collaboration, and continue advancing high-quality development driven by original design and leading technologies, steadily moving toward the goal of becoming a global leader in high-end intelligent electric vehicles. About AVATR AVATR is a high-end intelligent electric vehicle brand under AVATR Technology, focusing on research and innovation in the field of future mobility. With forward-looking design and warm technology, we continuously create travel experiences that lead the future. The company is headquartered in Chongqing, China, with branches in Shanghai and Munich, Germany. Contact Info: Name: Mr. Hansen Li Email: Send Email Organization: Public Relations Department, AVATR Address: 10th Floor, Tower A, Phase 1, Financial Street, No. 1539 Zhongxing Road, Jing'an District, Shanghai Website: Release ID: 89162267 In the event of encountering any errors, concerns, or inconsistencies within the content shared in this press release, we kindly request that you immediately contact us at [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will be readily accessible to address your feedback within 8 hours and take appropriate measures to rectify any identified issues or facilitate press release takedowns. Ensuring accuracy and reliability are central to our commitment.
Business Recorder
01-05-2025
- Automotive
- Business Recorder
Master Changan Motors honored with prestigious Global Awards
Master Changan Motors Limited (MCML), a joint venture partnership between the conglomerate Master Group of Industries and China's leading automaker Changan Automobiles, has proudly secured global recognition at the Changan Automobile Global Partner Conference 2025, a landmark event celebrating outstanding contributions from Changan's international partners. The company was coveted with 2 Global Awards - Marketing Achievement Award, and the most prestigious Panda Award for being the major contributor to the Vast Ocean Plan, in acknowledgment of its exceptional performance in building brand equity, for ranking #1 best-selling Chinese player in Pakistan and #4 best-selling amongst all other brands and achieving one of the highest sales volumes in Changan Global. The Marketing Excellence Achievement Award was presented in recognition of Master Changan Motors building Changan & Deepal as Pakistan's most loved and innovative using consumer focused and creative strategies such as innovative digital launches to exclusive events, creating a deep connection with its consumers. This has played a pivotal role in establishing Changan & Deepal as one of the most trusted, loved and forward-thinking automotive brands in Pakistan. Mr. Ali Asghar Damani, Chief Operating Officer of MCML, received the Marketing Excellence Achievement Award. Speaking on the occasion Damani said, 'This award is a proud moment for Pakistan and a testament to the vision, creativity, and dedication of our entire marketing and retail network. Together, we have reshaped perceptions and created meaningful connections between our brand and the people of Pakistan. We look forward to setting even higher benchmarks as we continue this exciting journey. The highlight of the evening was winning the most prestigious Global Award- the Panda Award for being one of the largest contributors to Changan Auto's global expansion plans. This award was received by Mr. Danial Malik, Chief Executive Officer, for Master Changan Motors' outstanding contribution to Changan's globalization Vast Ocean Plan and for being one of its highest selling markets. Malik, CEO of MCML, expressed his pride on this milestone, stating, 'These awards are not just accolades, they are a reflection of the trust our customers place in us, the vision we share with Changan Auto, and the incredible work of our dealer partners and entire team. We are proud to represent Pakistan on this global stage and remain committed to driving progress, innovation, and value for our market and beyond.' During this Global Conference and the Shanghai Autoshow 2025, Master Changan Motors brought the largest delegation not only amongst all international markets but also the largest in the history of Pakistan with over 50 delegates, including 30+ dealer partners and MCML's leadership team. Underlining the strength of the partnership between Master Changan Motors and Changan Auto, reaffirming Pakistan's strategic importance in Changan's global vision. Master Changan Motors, as a proud contributor to this vision, continues to set benchmarks for excellence and collaboration, reaffirming Pakistan's role in shaping the future of global mobility.
Reuters
01-04-2025
- Automotive
- Reuters
Chinese automakers Dongfeng Motor and Changan Auto hold merger talks, NYT reports
April 1 (Reuters) - Chinese automakers Dongfeng Motor ( opens new tab and Chongqing Changan Automobile ( opens new tab are in advance discussions to combine their operations, the New York Times reported on Tuesday, citing people with knowledge of the matter. The two companies, both controlled by the central government, have conducted detailed discussions on how to merge their operations and informed their foreign partners of the merger discussions, the report said. Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here. Dongfeng has a market capitalisation of $4.89 billion, while Changan Auto is valued at $15.65 billion, according to data compiled by LSEG. In February, speculations of a merger between the two companies had emerged after they announced that their respective parent companies were planning a restructuring. The central government fully owns the parent companies, and holds majority ownership of Dongfeng Motor and Changan Auto. China has been urging its state-owned automakers, which have been relying on their foreign joint venture partners to generate sales and profits, to become more independent in terms of technology, innovation and competitiveness, especially in new energy vehicles.
