Shanghai (Gasgoo)- Changan NIO New Energy Automotive Technology Co,Ltd. (Changan NIO), a managing subsidiary of Chongqing Changan Automobile Co.,Ltd. (Changan Vehicle), has now transformed its company identify to Avatar Technological know-how Co.,Ltd., Changan Car declared on May well 20.
Picture credit history: Changan Car
According to the announcement, Avatar Technologies will be independently operated centered on industry-oriented techniques. It will join hands with Changan Car, Huawei, and CATL to co-acquire the independent and controllable clever-connected electric powered auto platform CHN, an abundant sensible car or truck product or service lineup, as nicely as the ecosystem for wise life-style and clever vitality featuring connectivity of person, automobile and home.
Leveraging the positive aspects in ICT infrastructures and smart units, Huawei will workforce up with Avatar Technological innovation to present customers a full-stack smart car option. In addition, CATL will endow Avatar Engineering with its EV energy battery technologies to co-construct a safe and sound and practical energy ecosystem.
Launched on July 10, 2018, Changan NIO was a joint undertaking among NIO Co.,Ltd., and Changan Vehicle, equally of which held 45% equity fascination initially. Then Changan NIO grew to become a 50/50 joint venture between the two dad or mum companies.
In accordance to Changan Automobile’s semi-annual economic benefits for 2020, Li Bin, founder of NIO, stepped down as chairman of Changan NIO, and the placement was succeeded by Tan Benhong, executive vice president of Changan Car. In the meantime, by significantly growing expense, Changan Vehicle saw its stake in the joint enterprise surge to 95.38%.
In accordance to the small business details provider Tianyancha, registered capital of Changan NIO grew by 100 million yuan ($15.526 million) to 288 million yuan ($44.714 million). At the same time, the layout and R&D of new electricity autos have been eliminated from the company’s small business scope.
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