For the full year 2024, Avatr sold 73,606 vehicles, up 132.47 percent from 2023.
Avatr Technology sold 11,067 vehicles in December, up 81.25 percent from 6,106 a year earlier, but down 4.42 percent from 11,579 in November, according to data it released today.
This is the third consecutive month that the company — backed by Changan Automobile, CATL, and Huawei — has sold more than 10,000 units in a single month.
For the full year 2024, Avatr sold 73,606 vehicles, a year-on-year increase of 132.47 percent.
Avatr was originally founded as Changan Nio by Changan and Nio (NYSE: NIO) on July 10, 2018, when each took a 50 percent stake.
After a number of new fundraisings, Nio is currently no longer on Avatr’s shareholder list.
Currently, Avatr’s models on sale include the Avatr 07, Avatr 11, and Avatr 011 SUVs, and Avatr 12 and Avatr 012 sedans.
The company is expected to launch the Avatr 06 mid-size sedan in the second quarter of 2025.
Avatr is targeting global sales of 400,000 units by 2027, with no less than 60,000 units sold annually in overseas markets.
Avatr president Chen Zhuo announced on Weibo on December 17 that the EV maker has initiated preparations for an initial public offering (IPO), targeting a 2026 listing.
On December 18, Avatr announced the completion of its Series C financing round, raising more than RMB 11 billion ($1.5 billion).
Investors in the financing included Avatr’s parent company Changan, other existing investors, and new investors.
($1 = RMB 7.3002)
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