Shanghai (ZXZC)- Changan Auto's yet-to-be-launched premium smart car brand is likely to be named “Guangyu”, according to a local media, who found its subsidiary Changan NIO registered two trademarks—“Guangyu” and “Guangyu Xinba”—in 2019 and 2020 respectively.

Changan Auto would join hands with Huawei and CATL to launch an all-new upmarket car brand, and the first model under the brand would soon go into mass production, Zhu Huarong, chairman of Changan Auto, said on Nov. 14, 2020.

Photo credit: Changan Auto

According to previous local reports, the new upscale brand may be operated by Changan NIO, a joint venture set up by Changan Auto and NIO in 2018. Some sources revealed that NIO would possibly withdraw from the joint venture, while Huawei and CATL would join as new investors.

The tech giant Tencent intended to take part in the collaboration among Changan Auto, Huawei and CATL, person briefed on the matter disclosed in mid-December 2020.

Changan Auto announced in June 2020 a new investment in Changan NIO. Upon completion of the capital increase, registered capital of the joint venture grew to 18.8 billion yuan ($2.91 billion) from 98 million yuan ($15.171 million). Besides, Changan Auto’s equity interest in Changan NIO has been raised to 95.38% from 50%.

The three companies would jointly develop an all-new electric vehicle (EV) platform dubbed “CHN”, the combination of the first letters of their company names, people with knowledge of the matter said last month.

“The first CHN-based model is expected for sale in 2022,” the person added.