Avita's new model delivery is imminent, former CEO announces his new role in Volkswagen Anhui

On June 25, Avita announced the latest action at the Chongqing Auto Show. The first model Avita 11 based on the CHN technology platform and the joint limited edition model Avita 011 were displayed on the same stage for the first time.

According to the plan, Avita 11 and 011 will be officially launched on August 8 this year, and the first batch of deliveries will start this year.

Former CEO moves to Volkswagen

On August 17, 2018, "Changan Weilai New Energy Vehicle Technology Co., Ltd.", a joint venture company jointly funded by Changan Automobile and Weilai, settled in Nanjing Jiangning Development Zone.Changan Automobile and Weilai will each hold 45% of the shares, and the other 10% will be held by the management.

According to the core management structure of Changan Weilai New Energy Automobile Technology Co., Ltd., the chairman is Li Bin, the founder, chairman and CEO of Weilai, and the vice chairman is Li Wei, the executive vice president of Changan Automobile and the general manager of Changan New Energy. , CEO by Yang Fang.

Source: Avita official

In June 2020, Changan Weilai changed its industrial and commercial information. Li Bin stepped down as chairman, and former vice chairman Li Wei also quit at the same time. Tan Benhong, executive vice president of Changan Automobile, served as the new chairman.At the same time, the registered capital of Changan Weilai increased from 98 million yuan to 188 million yuan, an increase of 92%.

On February 17 this year, Changan's high-end brand Avita announced that Wang Jinhai will serve as the company's vice president, and concurrently serve as the deputy general manager of the user development center, in charge of sales, service and channel development and other related businesses.

According to public information, Wang Jinhai has senior sales management experience and is a powerful talent in Changan Group.Previously, Mr. Wang Jinhai worked for Changan Ford as Executive Vice President of National Sales and Service Organization (NDSD). Earlier, he was also responsible for marketing management at Changan Mazda and Changan Automobile.

On June 27, Volkswagen Group (China) announced the appointment of Yang Fang as CEO of Volkswagen (Anhui) Digital Sales Service Co., Ltd.The appointment is an important strategic move by Volkswagen Group (China) to build customer-centric digital services around Volkswagen Anhui and to improve customers' mobility experience in all aspects.

Official information shows that Yang Fang, 43 years old this year, was previously the founder and CEO of Avita, an intelligent connected car startup.It is understood that Yang Fang has held different positions in Avita, Changan Automobile and Ford Motor Company, involving strategy, operation, product planning, research and development, sales, marketing, brand building, innovative business and overseas markets.He holds a bachelor's degree in engineering and economics and an MBA from the University of Hong Kong.

Delivery of new models imminent

May 20, 2021.Changan Weilai announced that the name of its industrial and commercial registration information subject has been officially changed to Avita Technology Co., Ltd.Avita Technology will operate completely in the market, operate independently and develop independently.

On November 5, 2021, Changan Automobile announced that the company's holding subsidiary Avita Technology Co., Ltd. introduced CATL, Fujian Mindong, Chongqing Cheng'an, Liangjiang Xizheng, Nanfang Assets, and Nanfang Industrial Fund as the capital increase and share expansion. Investors participate in the capital increase.Changan Automobile participated in the capital increase through a non-public agreement.

According to the official, Avita Technology has aggregated the advantages of Changan Automobile, Huawei and CATL in the fields of vehicle R&D and manufacturing, smart car solutions and smart energy ecology, and deeply integrated the resources of the three parties to jointly create the world's leading smart electric vehicle technology. Platform (CHN), dedicated to building a global brand of high-end smart electric vehicles (SEV).

The capital increase and share expansion will be carried out in cash. Changan Automobile plans to increase its capital by 500 million yuan, and CATL plans to increase its capital by 770 million yuan.In addition, Fujian Mindong increased its capital by 160 million yuan, Chongqing Chengan increased its capital by 610 million yuan, Liangjiang Xizheng increased its capital by 60 million yuan, Nanfang Assets increased its capital by 280 million yuan, and Nanfang Industrial Fund increased its capital by 40 million yuan.

After the capital increase is completed, the registered capital of Avita Technology will increase from 288 million yuan to 1.172 billion yuan, Changan Automobile's shareholding ratio will be diluted from 95.38% to 39.02%, and Ningde Times will hold 23.99% and become its second largest shareholder.It is worth mentioning that NIO did not participate in the capital increase, and its shareholding ratio will be diluted from 4.62% to 1.13%.

At that time, Changan Automobile said that the company did not increase the capital of Avita Technology Company in the same proportion, mainly considering that it would continue to increase the difficulty of relying on Changan Automobile to develop new energy business.

In March this year, Avita Technology announced the completion of the first round of strategic financing and the change of industrial and commercial information.Its registered capital increased from RMB 288 million to RMB 1,172,242,578, of which CATL reached a 23.99% stake.On April 28, Avita Technology announced that a new round of valuation has increased to 6.26 billion yuan, which has achieved a rapid growth of nearly 7 times compared with the first valuation disclosure on November 5, 2021 half a year ago.

On April 28, Avita Technology announced that the new round of Avita Technology’s valuation increased to 6.26 billion yuan, achieving a rapid growth of nearly 7 times.This is also the first time that Avita Technology disclosed a valuation of 788.2 million yuan (based on the income method, the evaluation base date is December 31, 2020) when it increased its capital and shares through public listing on November 5, 2021. Secondary valuation disclosure.

On the news, Avita Technology signed a comprehensive strategic cooperation agreement with Huawei on June 25.Avita Technology and Huawei have reached consensus on risk sharing, revenue sharing, Huawei HI trademark authorization and other fields. Based on the CHN smart electric vehicle technology platform, the two parties will work together to create a series of high-end smart electric vehicle products. By 2025, 4 new models will be launched. model.

Changan Automobile said that the signing of the cooperation agreement with Huawei is a further comprehensive strategic cooperation between Avita Technology and Huawei on the basis of the tripartite cooperation between Changan Automobile, Huawei and CATL.

According to the plan, in 2025, the total sales volume of Changan Automobile will reach 4 million vehicles, of which 3 million vehicles will be sold under the Changan brand, and the sales volume of new energy vehicles will reach 1.05 million vehicles, accounting for 35%.It is expected to launch 8 new new energy products this year. It is expected that the small car Changan LUMIN and the compact car SL03 based on the EPA platform will be launched between the second and third quarters, and the C673 is expected to be launched in the second half of the year. Avita 11 will also achieve the first mass production and user delivery in the third quarter.