Shanghai (ZXZC)- The first vehicle model of Avatr Technology Co.,Ltd., whose forerunner is Changan Automobile and NIO’s joint venture Changan NIO, will be a mid-sized SUV code-named E11, Changan Automobile revealed on May 26.

The SUV will rides on a new-generation smart EV platform and is armed with Huawei HI (Huawei Inside) smart car solution. Its design prototype has already come off the assembly line, the automaker said.

Photo credit: Changan Automobile

On May 20, the Chongqing-based carmaker stated Changan NIO had already renamed itself as Avatr Technology Co.,Ltd., which would be independently operated based on market-oriented methods.

Meanwhile, Changan Automobile noted Avatr Technology would team up with Changan Automobile, Huawei, and CATL to co-develop the independent and controllable intelligent-connected electric vehicle platform CHN, an abundant smart vehicle product lineup, as well as the ecosystem for smart lifestyle and smart energy featuring connectivity of user, car and home.

Leveraging the advantages in ICT infrastructures and smart devices, Huawei will work with Avatr Technology to offer users a full-stack intelligent vehicle solution. In addition, CATL will endow Avatr Technology with its EV power battery technologies to co-build a safe and convenient energy ecosystem.

Founded on July 10, 2018, Changan NIO was a joint venture between NIO Co.,Ltd., and Changan Automobile, both of which held 45% equity interest initially. Then it became a 50/50 joint venture between the two parent companies.

According to Changan Automobile's semi-annual financial results for 2020, Li Bin, founder of NIO, stepped down as chairman of Changan NIO, and the position was succeeded by Tan Benhong, executive vice president of Changan Automobile. Meanwhile, by substantially increasing investment, Changan Automobile made its stake in the joint venture surge to 95.38%.