China's EV maker Avatr raises $1.52b in fresh fundraising

China's EV maker Avatr raises $1.52b in fresh fundraising

AVATR's president Chen Zhuo showcases the firm's new electric SUV model “AVATR 07” during a product launch event on September 26, 2024. Photo from AVATR Technology.

Chinese smart electric vehicle firm Avatr Technology has raised 11.1 billion yuan ($1.52 billion) from investors including China’s Chongqing Changan Automobile, marking the largest fundraising by a Chinese EV brand this year.