Avatr Technology had an impressive year in 2024, selling a total of 73,606 vehicles, marking a significant increase of 132.47 percent compared to the previous year. This growth trend was evident in December as well, with the company selling 11,067 vehicles, an 81.25 percent increase from the same month in 2023. While this was slightly lower than the 11,579 vehicles sold in November, it still marked the third consecutive month that Avatr surpassed the 10,000 units mark.
Founded as Changan Nio in 2018, with Changan and Nio each holding a 50 percent stake, Avatr has since undergone several changes in ownership. Notably, Nio is no longer a shareholder in Avatr. The company’s current lineup includes the Avatr 07, Avatr 11, and Avatr 011 SUVs, as well as the Avatr 12 and Avatr 012 sedans. Looking ahead, Avatr plans to launch the Avatr 06 mid-size sedan in the second quarter of 2025.
With ambitious goals for the future, Avatr aims to achieve global sales of 400,000 units by 2027, with at least 60,000 units sold annually in international markets. To support its growth trajectory, the company announced its intention to go public, with an IPO planned for 2026. In December, Avatr successfully completed its Series C financing round, raising over RMB 11 billion ($1.5 billion) from existing and new investors, including its parent company Changan.
As Avatr continues to expand its presence in the electric vehicle market, it remains dedicated to innovation and sustainability. The company’s recent achievements and strategic initiatives position it as a key player in the evolving automotive industry. Stay tuned for more updates on Avatr’s journey towards electrifying the future of mobility.
