On December 17, 2024, AVATR announced the completion of its Series C financing, with the total investment amount exceeding RMB 11 billion. According to the public information, AVATR’s Series C financing is the largest equity financing for new energy vehicle brands in China in 2024. With the accomplishment of Series C financing, AVATR will have more adequate working capital to further accelerate its R&D, design, branding and overseas market expansion.

As an explorer in the new track of smart electric vehicles (“SEV”), AVATR is committed to building an international high-end SEV brand. Supported by Changan Automobile, Huawei, and CATL in vehicle R&D and intelligent manufacturing, intelligent vehicle solutions, and intelligent energy ecology, AVATR is making the most of the jointly built, featuring an all new SEV architecture with “a new architecture, strong computing power, and high-voltage charging capability”.

As a pioneering law firm for legal services in the new energy sector, Fangda continues to provide comprehensive and exceptional legal support to industry clients. The Fangda team provided comprehensive legal services to AVATR in this transaction, including participation in the design of the transaction structure, assisting with the negotiation, drafting, revision, and finalization of transaction documents, as well as supporting the closing and related matters. The Fangda team was led by partner Jeffrey Ding and partner Patrick Li.