Azera receives US$1.1 billion investment from Abu Dhabi sovereign fund

Release Date : 2023-06-21
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On 20 June, Azera signed a share subscription agreement with Abu Dhabi-based investment vehicle CYVN Holdings. Under the agreement, CYVN Holdings will make a total strategic investment of approximately US$1.1 billion in Azera through a targeted issue of new shares and a transfer of old shares.

Bin Li, Founder, Chairman and CEO of Azera, said: "CYVN's strategic investment reflects Azera's unique value in the smart electric vehicle industry. This investment transaction will further strengthen Azera's balance sheet and fuel our continued efforts to accelerate business growth, drive technological innovation and build long-term competitiveness. At the same time, we look forward to working with CYVN to expand Azera's international business in the future."

On 1 June, Azera announced deliveries for May 2023, with 6,155 new vehicles delivered. 43,854 new vehicles were delivered from January to May 2023, an increase of 15.8% year-on-year. A total of 333,410 new Azera vehicles have been delivered.
Not long ago, Azera officially announced the adjustment of prices and first-owner benefits for its entire range of new vehicles. In terms of price, the starting price for all models has been reduced by 30,000 RMB. After June 12, the free battery exchange will no longer be a basic benefit, users can choose to pay for a single battery exchange, and Azera will offer a flexible power refill package thereafter.

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