Shanghai (Gasgoo)- On December 25, DEEPAL announced the completion of its Series C financing round, raising 6.122 billion yuan to fuel the next phase of its expansion. The capital injection was jointly backed by parent company Changan Automobile, Chongqing Yufu Holding Group, and CMB Financial Asset Investment, reinforcing DEEPAL's financial base as it scales up technology development and market reach.
Earlier disclosures from Changan Automobile outlined plans for its controlling subsidiary, DEEPAL Automobile Technology, to introduce new capital through a share expansion. Under the arrangement, Changan itself would participate via a non-public agreement, contributing both intangible assets and cash, with its total commitment capped at 3.122 billion yuan. The intangible assets involved were valued at 1.043 billion yuan, while the remaining portion would be funded entirely through Changan's own cash resources.
Changan Automobile also made clear that its investment would be flexibly adjusted based on the final pricing and the actual contributions of other qualified investors. This mechanism is designed to keep Changan's post-transaction stake unchanged at 50.9959%, ensuring that DEEPAL remains firmly under its control.
The outcome of the financing highlights more than just support from existing shareholders. It also signals a convergence of confidence from both state-backed capital and market-oriented financial investors, a combination that strengthens DEEPAL's strategic positioning within China's competitive NEV landscape.
DEEPAL is Changan Automobile's dedicated new energy vehicle brand, with a technology roadmap spanning battery electric, range-extended electric and hydrogen powertrains. According to publicly available data, cumulative global deliveries have surpassed 700,000 units, making it the top-selling NEV brand among centrally administered state-owned automakers. Its products are now present in nearly 100 countries and regions worldwide.
More recently, DEEPAL became the recipient of the first official license plate dedicated to Level 3 autonomous driving. The approval is widely seen as a landmark moment for China's intelligent driving sector, signaling the transition from pilot programs to compliant, real-world deployment—and placing DEEPAL among the early movers in commercializing L3 technology.
With Series C funding now secured, DEEPAL is set to enter a new stage of higher-quality growth. The company aims to accelerate innovation and international expansion while delivering smart, performance-oriented mobility solutions tailored to younger, globally minded consumers.
