Beijing (Gasgoo)- Changan Automobile announced on December 17 that its commercial vehicle subsidiary, Changan Kaicheng, plans to raise up to 2.5 billion yuan through a capital expansion via public listing on the Chongqing United Assets and Equity Exchange Group.
Changan Automobile itself will contribute up to 500 million yuan through cash and intangible assets, while additional investments are expected from China Changan Automobile Group and Southern Industrial Asset Management Co., Ltd. The remaining investors have yet to be finalized. Following the capital injection, Changan Kaicheng will remain a majority-owned subsidiary of Changan Automobile.
This announcement follows Kaicheng's unveiling of its new brand strategy at the Auto Guangzhou 2024 on November 15. Kaicheng is pivoting towards becoming a digital new energy commercial vehicle brand. It introduced a dual-brand strategy, retaining the traditional "sun" logo for existing fuel-powered models while adopting a new "cube" logo to signify innovation.
The refreshed Kaicheng brand will exclusively focus on new energy vehicles, with the first models set for launch in 2025.
