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Recently, Changan Automobile brand Avita Technology announced the completion of the first round of strategic financing delivery and industrial and commercial information changes, the company's registered capital increased from 288 million yuan to 1.172 billion yuan, Ningde Times with 23.99% shareholding, officially became the second largest shareholder of Avita Technology. In addition, the change in the business scope of Avita Technology has also been officially approved, adding three core businesses, namely, the production of road motor vehicles, centralized fast charging stations, the operation of electric vehicle charging infrastructure and the sale of lifestyle derivatives.

Although Avita Technology brings together the advantages of Changan Automobile, Huawei and Ningde era in various fields, it is a high-end intelligent electric vehicle brand jointly created. In this strategic financing, Huawei still adheres to the promise of "not building cars" and did not participate in the investment.

Avita is a newly released high-end brand of Changan Automobile, its predecessor is Changan Xilai New Energy Automobile Technology Co., Ltd., which was established on July 10, 2018. On May 20 this year, it was officially renamed Avita Technology Co., Ltd. (hereinafter referred to as "Avita Technology").

On August 21, 2021, Changan Automobile announced that Avita Technology Co., Ltd. (Avita Technology), the company's holding subsidiary, intends to introduce two to five investors through a public listing on the Chongqing United property Exchange. At the same time, the company will participate in this capital increase at the same price and in a private agreement. The announcement shows that before the capital increase, Changan Motor held a 95.3785% stake in Avita Technology; after the completion of the capital increase, Changan Motor held a stake in Avita Technology, based on the results of this public listing transaction combined with the actual subscription amount of the capital increase party, but the shares held by the original shareholders are not less than 39%.

On November 5, Avita Technology announced that it had successfully completed the first round of strategic financing, introducing three new strategic investors with a total amount of 2.42 billion yuan. It is understood that after the completion of this round of capital increase and share increase transaction, the registered capital of Avita Technology Company will increase from 288 million yuan to 1.172 billion yuan, Changan Automobile's shareholding will be diluted from 95.38% to 39.02%, Ningde Times 23.99% as the second largest shareholder, Fujian Mindong 5.00%, Chongqing Chengan 19.01%, Liangjiang West Securities 1.87%. Southern assets holds 8.73% of the shares, while Southern Industrial Fund holds 1.25%. Shanghai Ulai Automobile Co., Ltd. did not participate in the capital increase, and its shareholding will be diluted from 4.62% to 1.13%.

On November 15, 2021, the high-end brand AVATR, jointly built by Changan Automobile, Huawei and Ningde era, was officially launched, with the debut of the first model Avita 11. The new car is positioned as a pure electric medium-sized SUV, using the design style of a sedan car, based on the Intelligent Electric vehicle Network platform (CHN) jointly developed by Changan, Huawei and Ningde era.

From the appearance, the vehicle shape still has a sense of the future, the headlights use a split design, and the headlight group is very recognizable, the through-type LED light source outlines the front face structure, the Avita brand LOGO is composed of simple geometric patterns, as for the middle of the front cover. From the side point of view, the use of double-waist design and slip-back-type body shape, the tail bulge waistline looks very exaggerated, taillights use through-type design, after lighting also has a strong degree of identification. It is important to note that Avita officials said that the model unveiled this time is very close to the mass production version, which means that there may be some changes in the final mass production.

According to official information, the 0-100km/h acceleration time of the car will be within 4 seconds, with the high-pressure overcharging ability of more than 200kW and the intelligent driving ability of 400tops, with a range of more than 700km. Avita chairman and CEO Tan Benhong revealed that Avita 11 will be released in the second quarter of this year, and the first batch of mass production will be delivered in the third quarter. In the next five years, Avita will bring four new cars. In addition, Avita will launch round A financing this year.

Ningde Times is a well-known power battery manufacturer in China. According to the latest data of China Automotive Power Battery Industry Innovation Alliance, the number of power batteries installed in Ningde era in 2021 was 80.51GWh, accounting for 52.1% of the total domestic market share, ranking firmly in the title of the largest power battery installed in China. In addition, BYD is 25.06GWh, with a market share of 16.2%. AVIC Lithium is 9.05GWh, with a market share of 5.9 per cent.

Ningde Times as the second largest shareholder of Avita Technology, its breakthroughs and advances in battery technology are expected to benefit Avita Technology. At the 2022 China Electric vehicle Centenary Conference, Ningde Times announced in April that it would release a Kirin battery using third-generation CTP technology. The battery pack has 13% better energy than Tesla's 4680 battery. Whether Avita can take the lead in applying this leading technology in the industry is worth looking forward to!

At present, new energy vehicles are facing the difficult situation of "lack of core and less electricity", and the production of major new energy vehicle manufacturers has been affected. at the same time, due to the rising price of raw materials for power batteries, the new energy vehicle market is "booming". Industry insiders said that in the current context, Ningde era has become the second largest shareholder of Avita Technology, which may be able to protect the supply chain system of Avita products and enhance the competitiveness of Avita products to a certain extent.

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