GAC and Huawei's joint EV brand Qijing secures RMB 1.099 billion in new funding, with CATL and multiple state-backed investors participating

Qijing Auto, a new energy vehicle brand jointly developed by GAC Group and Huawei's Intelligent Automotive Solution Business Unit (Huawei IAS BU), has recently completed a capital increase of approximately RMB 1.099 billion, bringing in external investors including CATL. Investment entities under the state-owned asset supervision authorities of Shenzhen and Guangzhou also participated in this round. Huawei leads product definition for the brand. The two parties reached a cooperation agreement at the end of November 2024 and subsequently established a joint team and began co-locating operations. In March 2025, GAC Group established Huawei-Wang Automotive Technology (Guangzhou) Co., Ltd. as the operational entity for their collaborative vehicle manufacturing efforts. This capital injection provides financial support for Qijing Auto’s future development and strengthens its competitiveness in the new energy vehicle market.