AVATR, the electric vehicle (EV) startup jointly backed by Changan Auto, Huawei and CATL, is preparing to submit its initial public offering (IPO) application in Hong Kong as early as October, with a target to complete the listing by the second quarter of 2026, according to media reports.

The company is in the final stages of preparation for the Hong Kong listing, Cailian News cited an internal source as saying. Previously, Avatr insiders indicated plans for a 2026 listing and named CICC (China International Capital Corporation) and CITIC Securities as joint sponsors for the offering.

Avatr’s most recent capital boost came in December 2024, when it closed a Series C financing round totaling more than 11 billion yuan (US$1.5 billion). The funds from that round, company statements said at the time, will provide more ample operating capital to accelerate research and development of follow‑on models, strengthen brand building and support overseas expansion. On Dec. 18, 2024, Avatr president Chen Zhuo announced on Weibo that the company had already initiated IPO preparations with a 2026 listing in view.

Founded on July 10, 2018 as a joint venture between Changan and Nio under the name Changan Nio, the company was rebranded to Avatr in August 2021. Under the repositioning, Changan assumed leadership of the EV unit while Huawei and CATL were assigned responsibility for smart‑vehicle solutions and battery technology, respectively. Subsequent external financing rounds diluted Nio’s stake, and the company has largely exited its investment in Avatr.

Avatr’s recent sales figures show accelerating momentum. The company sold 10,565 vehicles in August 2025, a year‑on‑year increase of 184.62% and a 5% rise compared with July. From January through August, Avatr sold 79,711 vehicles, up 119.18% year on year.

Avatr’s move toward a Hong Kong IPO comes amid heightened activity by Chinese automakers in the SAR’s capital markets. Chery recently advanced its own Hong Kong IPO process, with a Bloomberg report saying the offering had been priced at HK$30.75 (US$4) per share — the top of its indicated range — implying proceeds of about HK$9.1 billion.

At the same time, Dongfeng Motor Group announced plans to exit the Hong Kong market, while its premium EV unit Voyah plans to pursue a listing in the city by way of introduction.

(SD-Agencies)