Chinese state-owned automobile manufacturer Chang‘an Automobile (Group) Co., Ltd., plans to list its electric vehicle (EV) unit on Shanghai Sci-Tech Innovation Board (STAR Market), to fund the rapid expansion of its business, people familiar with the matter said.

Changan, based in the southwestern city of Chongqing, holds 48.95% of the unit, which makes entry-level and mass-market electric vehicles. The unit aims to sell over 500,000 EVs a year in 2025 and one million in 2030, Changan said during a recent briefing with investors.

Source: https://www.reuters.com/technology/chinese-automaker-changan-aims-list-ev-unit-star-market-sources-2021-05-17/