Hyundai Chongqing Plant
2025
Why
Boost production capacity for Deepal brand to meet surging NEV demand.
Changan Automobile
Automotive / Electric VehiclesFounded 1862- HQ today: Chongqing, China
Reviewed by Swet Parvadiya
Company data updated: October 2026
Acquisitions
Changan Automobile Acquisitions
4
Major Deals Covered
$1
Disclosed Deal Value
What are Changan Automobile's biggest acquisitions?
Changan Automobile's largest disclosed acquisition here is Changan Suzuki (Suzuki Motor 50% Equity Stake) for $1 in 2018. This page covers 4 major deals from 2009 to 2025, each with its price where disclosed and the reason behind it.
- Major deals covered
- 4
- Largest deal
- Changan Suzuki (Suzuki Motor 50% Equity Stake) ($1)
- First deal
- 2009
- Most recent
- 2025
| Company | Year | Price | Purpose |
|---|---|---|---|
| Changan Suzuki (Suzuki Motor 50% Equity Stake) | 2018 | $1 | Changan acquired Suzuki's entire 50% equity stake in their longstanding joint venture for a symbolic 1 yuan, taking 100% control of the manufacturing facilities in Chongqing. |
| Avatr Technology Co., Ltd. (Restructuring with CATL) | 2021 | Undisclosed | Restructured the former Changan-NIO joint venture into Avatr Technology, with CATL as a major shareholder and Huawei as the intelligent-technology partner, to build a premium smart EV brand. |
| Hafei and Changhe | 2009 | Undisclosed | Expand manufacturing footprint and portfolio in domestic Chinese market. |
| Hyundai Chongqing Plant | 2025 | Undisclosed | Boost production capacity for Deepal brand to meet surging NEV demand. |
- What companies has Changan Automobile bought?
- Major acquisitions by Changan Automobile documented here include Changan Suzuki (Suzuki Motor 50% Equity Stake) (2018), Hyundai Chongqing Plant (2025), Avatr Technology Co., Ltd. (Restructuring with CATL) (2021) and Hafei and Changhe (2009).
- What is Changan Automobile's most recent acquisition?
- The most recent Changan Automobile acquisition documented here is Hyundai Chongqing Plant, in 2025.
Avatr Technology Co., Ltd. (Restructuring with CATL)
2021
Why
Restructured the former Changan-NIO joint venture into Avatr Technology, with CATL as a major shareholder and Huawei as the intelligent-technology partner, to build a premium smart EV brand.
Impact
Gave Changan a premium EV brand competing with Nio, Zeekr, Li Auto and Tesla; Avatr filed for a Hong Kong IPO in November 2025 and refiled on June 30, 2026.
Outcome
Launched the Avatr 11, 12 and later models; in September 2026 Changan began integrating Avatr and Deepal mid- and back-office operations.
Changan Suzuki (Suzuki Motor 50% Equity Stake)
2018
$1
Why
Changan acquired Suzuki's entire 50% equity stake in their longstanding joint venture for a symbolic 1 yuan, taking 100% control of the manufacturing facilities in Chongqing.
Impact
Allowed Changan to fully repurpose former Suzuki factory capacity toward its own high-margin proprietary domestic SUVs and new energy vehicles.
Outcome
Completed the consolidation of Changan's domestic production footprint, laying the physical groundwork for the Deepal EV manufacturing ramp.
Hafei and Changhe
2009
Why
Expand manufacturing footprint and portfolio in domestic Chinese market.
Changan Automobile's Growth & Acquisition Strategy
Changan's growth plan rests on two levers that are both meant to double by 2030: NEVs and exports. On NEVs, it runs three brands. Deepal sells mass-market BEV and range-extended models, Avatr sells premium smart EVs, and Qiyuan sells family cars. These are supported by the in-house SDA architecture and Blue Core hybrids. On exports, it now sells in 118 countries and regions through 1,124 outlets. It passed 100,000 overseas sales in a single month for the first time in March 2026, and it builds right-hand-drive NEVs at its Rayong plant in Thailand. The Middle East and Africa are a priority region in its 2030 global plan.
How Changan Automobile Makes Money
Changan makes money by building and selling vehicles, and it does this in two ways. The first and largest is its own brands: mass-market Changan petrol and hybrid cars (CS-series SUVs, UNI-series crossovers), the Deepal and Avatr electric brands, Changan Qiyuan family NEVs, and Kaicene light commercial vehicles. These sales show up directly in Changan's consolidated revenue. The second is its 50:50 joint ventures, Changan Ford and Changan Mazda. Changan accounts for its share of their profits as investment income instead of revenue. Other income comes from engines and components, auto finance, and a fast-growing export business. In 2025, overseas markets took 637,000 vehicles, or about 22% of total sales. Avatr is a majority-controlled subsidiary that uses CATL batteries and Huawei's driver-assistance and cockpit technology. Average revenue per vehicle at the listed company was about CN¥53,400 in 2025, which shows how much of Changan's volume comes from affordable cars.
Changan Automobile Acquisitions FAQ
What was Changan's acquisition of Hafei Auto and Changhe Auto in 2009?
In November 2009, through the consolidation of China South Industries Group and AVIC, Changan acquired Harbin-based Hafei Automobile and Changhe Automobile, expanding its manufacturing footprint into Northern and Southern China.
What was Changan's strategic equity acquisition in Avatr Technology?
Changan increased its strategic equity holding in smart EV subsidiary Avatr Technology alongside battery giant CATL and local government investment funds, funding multi-billion-RMB R&D programs for luxury smart vehicles.
What joint venture restructuring occurred between Changan and Ford in 2023?
In August 2023, Changan Ford entered into a definitive agreement to establish a new new-energy vehicle joint venture (Changan Ford New Energy Automotive Technology), accelerating electric vehicle development for the Ford brand in China.
How did Changan acquire full control of Changan Suzuki in 2018?
In September 2018, Changan acquired Suzuki's remaining 50% equity stake in the Changan Suzuki joint venture for a symbolic 1 RMB, taking 100% operational ownership of the manufacturing plants following Suzuki's exit from the Chinese market.
What technology partnerships in autonomous driving and AI has Changan formed?
Changan has formed strategic equity alliances with autonomous driving chipmaker Horizon Robotics, Tencent for smart cockpit software (Tencent Auto Intelligence), and Huawei's smart automotive solution business unit.
What is Changan's battery manufacturing joint venture with CATL?
Changan and CATL formed CATL-Changan EV Battery Co., establishing a multi-gigawatt-hour advanced battery cell manufacturing facility in Sichuan to secure dedicated battery supply for Deepal, Avatr, and Qiyuan models.
How does Changan finance its corporate technology investments?
Changan finances acquisitions and joint ventures through operational cash flow, public A-share equity offerings on the Shenzhen exchange, and strategic co-investments from parent group China South Industries.
What is Changan's overseas manufacturing acquisition and greenfield strategy?
Changan evaluates overseas assembly plant acquisitions in Europe and Latin America while building greenfield smart production hubs in Southeast Asia (Thailand) to localize manufacturing and avoid trade tariffs.
Does Changan build cars for Ford?
Yes, a massive part of Changan's historical growth was driven by 50/50 joint ventures required by the Chinese government, most notably Changan Ford and Changan Mazda, which built foreign cars for the domestic Chinese market.
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