Young EV startup Avatr appears to be the latest Chinese automaker sharing plans to expand to new markets in Europe. Following the debut of its second-ever EV model the 12 (pronounced “one-two”), Avatr – backed by big tech names like CATL, Huawei, and Changan – will not only sell its EVs in Europe but also intends to build them there too.
Avatr Technology is an EV startup founded in 2018 that began as a Chinese joint venture between NIO and state-owned Changan Automobile before the former transferred its entire stake over to the latter in 2020.
In addition to Changan, Avatr is now also backed by the world’s largest battery manufacturer CATL, and electronics manufacturing powerhouse Huawei. the joint venture debuted its first EV model, the 11 (“one-one”) SUV in late 2021 before going on sale in China last year.
The startup has since promised to launch three additional new models over the course of the next three years, which continued this week at IAA Mobility in Munich – Europe’s largest auto show. Avatr not only debuted its second model – a fastback sedan called the 12, but also shared details about selling its EVs in Europe.
According to Avatr CEO Tan Benhong, the startup may expand beyond mere design in Europe and is exploring local production to support plans to enter new markets overseas within the next two years. Benhong elaborated by saying Avatr is specifically targeting the premium market in Europe and specifically called out BMW as a competitor on its own turf in Munich.
Avatr’s chief would not discuss what vehicles might make their way over to Europe first, but with two more EVs in its development pipeline, the startup should have three if not four to choose from if and when it does actually enter new markets in the EU.
Source: Electrek