Changan NIO adjustments identify to Avatar Technologies

Shanghai (Gasgoo)- Changan NIO New Vitality Automotive Know-how Co,Ltd. (Changan NIO), a managing subsidiary of Chongqing Changan Car Co.,Ltd. (Changan Automobile), has by now transformed its corporate name to Avatar Engineering Co.,Ltd., Changan Car declared on Might 20.

Photograph credit: Changan Automobile

In accordance to the announcement, Avatar Technologies will be independently operated centered on current market-oriented techniques. It will be a part of palms with Changan Auto, Huawei, and CATL to co-create the independent and controllable clever-linked electric powered motor vehicle platform CHN, an ample clever car or truck product lineup, as perfectly as the ecosystem for wise way of living and smart power featuring connectivity of person, car or truck and house.

Leveraging the strengths in ICT infrastructures and good gadgets, Huawei will group up with Avatar Technological innovation to offer you buyers a full-stack clever car option. In addition, CATL will endow Avatar Engineering with its EV electrical power battery technologies to co-create a protected and convenient electrical power ecosystem.

Founded on July 10, 2018, Changan NIO was a joint venture between NIO Co.,Ltd., and Changan Vehicle, the two of which held 45{d193e09a58b59d8db4f9cbfbd917777d90b1450a77600673ac73279d595e6255} fairness interest in the beginning. Then Changan NIO became a 50/50 joint enterprise between the two mum or dad corporations.

In accordance to Changan Automobile’s semi-yearly economic effects for 2020, Li Bin, founder of NIO, stepped down as chairman of Changan NIO, and the posture was succeeded by Tan Benhong, executive vice president of Changan Automobile. In the meantime, by significantly escalating financial investment, Changan Vehicle observed its stake in the joint undertaking surge to 95.38{d193e09a58b59d8db4f9cbfbd917777d90b1450a77600673ac73279d595e6255}.

According to the small business details supplier Tianyancha, registered money of Changan NIO grew by 100 million yuan ($15.526 million) to 288 million yuan ($44.714 million). At the exact time, the layout and R&D of new electrical power vehicles were taken out from the company’s organization scope.

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