HONG KONG -- Chinese smart electric vehicle company Avatr Technology, backed by state-run automaker Chongqing Changan Automobile and EV battery giant Contemporary Amperex Technology (CATL), said it has secured 3 billion yuan ($411.5 million) in a Series B funding round.
The news on Thursday comes after Hozon New Energy Automobile sealed a 7 billion yuan crossover financing round on Wednesday, marking another major transaction in the Chinese EV sector in just one week.