Beijing (Gas Goo) – On October 9, Chongqing Changan Automobile Co., Ltd. (hereinafter referred to as “Changan Automobile”), one of China’s traditional automobile manufacturers, will further deepen its entry into the new energy vehicle (NEV) field by establishing a dedicated investment fund. The plan was announced.
Photo provided by: Changan Automobile
The company announced its intention to collaborate with several other companies to establish a fund tentatively named “Chang’an Changfu Private Equity Investment Fund Partnership Enterprise (Limited Partnership).” With an impressive capital size of 15 billion yuan, this fund is expected to play a pivotal role in supporting Changan’s journey into the evolving NEV industry.
Among the investors in the fund, Changan Automobile will invest 3.48 billion yuan, and China Changan Automobile Group will invest 1 billion yuan. In addition, Chongqing Industrial Investment Parent Fund LLC pledged 4.5 billion yuan, Chongqing Liangshan Industrial Investment Co., Ltd. allocated 6 billion yuan, and Anhe (Chongqing) Private Equity Investment Fund and Chongqing Yufu Stock Investment Each fund will make an investment. 10 million yuan on the table.
The newly established fund will be managed by Anhe Fund (“Anhe” is Pinyin in Chinese) and will focus on investing in the NEV industrial chain and related ecosystem projects. Its primary target is projects in growth and maturity stages, in line with the ever-evolving trends of the NEV industry. The ultimate goal of this fund is to not only promote Changan Automobile’s role in the NEV ecosystem, but also ensure meaningful investment returns.
This move underscores Changan Automobile’s efforts to accelerate the transition to new energy vehicles. The company announced its “New Cars, New Ecosystem” strategy at the “2023 Changan Automobile Technology Ecosystem Summit” in September. This strategy includes a huge investment of 200 billion yuan, the establishment of a technology innovation team of more than 10,000 members, and an ambitious sales target of 5 million units by 2030.
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