启源Changan Nevo

Who owns Changan Nevo? The ownership chain, Changan Automobile's stake and the 2023 deal

Facts checked Chinese holding 100%

Changan Nevo is Chinese. It is a Changan sub-brand for plug-in hybrids and range-extenders sold in China, sitting alongside Deepal in the group's electrified line-up.

Changan launched the Nevo brand, called 启源 (Qǐyuán) in China, on 27 August 2023.

The short answer

Controlled by Changan Automobile
Stake100%
Since27 August 2023
Kindbrand
OriginCN
Name in Chinese 启源 Qǐyuán “CHEE-ywen”
Top of the chainState-owned Assets Supervision and Administration Commission of the State Council
Is it Chinese? Yes

The chain, step by step

  1. State-owned Assets Supervision and Administration Commission of the State Council owns China Changan Automobile Group Co., Ltd. at 100% since 29 July 2025.

    The State-owned Assets Supervision and Administration Commission of the State Council inaugurated China Changan Automobile Group Co., Ltd. as a central state-owned enterprise on 29 July 2025, with registered capital of 20 billion yuan and 117 subsidiaries and branches.

  2. China Changan Automobile Group Co., Ltd. owns Changan Automobile at 35.04% since July 2025.

    The new central SOE holds 14.23% of the listed Chongqing Changan Automobile directly and a further 20.81% through Chenzhi Group and Zhonghui Futong Investment, for 35.04% in total, as reported in July 2025.

  3. Changan Automobile owns Changan Nevo at 100% since 27 August 2023.

    Changan launched the Nevo brand, called 启源 (Qǐyuán) in China, on 27 August 2023.

Every holding above this entity, with the stake and the date it began.
Holder Holds Kind Stake Since
State-owned Assets Supervision and Administration Commission of the State Council China Changan Automobile Group Co., Ltd. owns 100% 29 July 2025
China Changan Automobile Group Co., Ltd. Changan Automobile owns 35.04% July 2025
Changan Automobile Changan Nevo owns 100% 27 August 2023

Changan Nevo: questions people ask

Who owns Changan Nevo?
Changan Automobile. Nevo is one of Changan's own brands, not a joint venture.
What does Qiyuan mean?
启源 (Qǐyuán) means 'to open a source', or origin. The English name Nevo is a separate coinage.
Is Nevo the same as Deepal?
No. Both are Changan electrified brands, but Nevo sells at lower prices and higher volume while Deepal sits above it; Avatr is the premium brand of the three.
Are Nevo cars electric?
They are offered as battery-electric cars and as range-extended electric cars, where a petrol engine charges the battery rather than driving the wheels.

Related

Sources for Changan Nevo

  1. CnEVPost, Changan's new EV brand, Nevo, officially launched with goal of 1.5 million annual sales by 2030. Read . The 27 August 2023 launch, the logo explanation and the 2030 target.
  2. Wikipedia, Changan Nevo A07. Read . The A07 as the brand's first model, in battery-electric and range-extender form.
  3. Gasgoo, Changan Automobile 2025 Financial Report: Record Sales and Profit Structure Adjustment. Read . Nevo's 2025 volume from Changan's annual report.
  4. Wikipedia, List of automobile manufacturers of China. Read . Changan's brand portfolio.
  5. State-owned Assets Supervision and Administration Commission of the State Council, China Inaugurates Changan as Central SOE. Read .
  6. iChongqing, Changan Powering Chongqing's Rise as a Global Motor City. Read .