Changan EV Unit Avatr Files for Hong Kong IPO
Avatr, a premium electric vehicle (EV) brand jointly established by Changan Automobile, Huawei, and CATL, has filed for an initial public offering in Hong Kong. The filing was made on the Hong Kong Stock Exchange with CITIC Securities and CICC as joint sponsors.Key TakeawaysAvatr reported revenue of RMB 12.2 billion ($1.7 billion) in the first half of 2025, a 98.5 percent year-on-year increase.The brand's vehicle sales contributed RMB 11.5 billion to its revenue, while other businesses such as assisted driving solutions and after-sales services added RMB 718 million.Avatr aims for global sales of 400,000 units by the end of 2026, with plans to list on the Hong Kong stock market in the second quarter of 2026.In the first half of 2025, Avatr's revenue surged to RMB 12.2 billion ($1.7 billion...