Deepal Auto has announced the successful completion of its Series C funding round, securing a total investment of 6.122 billion yuan (945 million USD). The funding was jointly provided by Changan Automobile, Chongqing Yufu Holding Group, and CMB Financial Asset Investment Co., Ltd., as confirmed in an announcement on December 25, 2025.
According to a statement released by Changan Automobile on December 24, Chongqing Yufu Holding Group will invest 2.5 billion yuan (350 million USD) to become Deepal’s second-largest shareholder with a 12.09% stake. CMB Financial Asset Investment, a wholly-owned subsidiary of China Merchants Bank, will contribute 500 million yuan (70 million USD), becoming the ninth-largest shareholder with a 2.42% stake.
Additionally, Changan Automobile has previously announced its plan to invest up to 3.122 billion yuan (437 million USD) through a combination of intangible assets and cash, maintaining its controlling stake at 50.99%. Following this transaction, Deepal Auto’s registered capital will increase from 328 million yuan (45.9 million USD) to 466 million yuan (65.2 million USD).
Deepal Auto plans to use these funds primarily for new vehicle research and development, innovation in intelligent and electric vehicle technologies, and global brand enhancement. The company has already begun developing its second-generation products, which are scheduled for release in 2026, with plans to launch a total of 30 new models by 2030.
Deepal recently received approval for L3 autonomous driving capabilities on December 15. This allows its vehicles to operate autonomously in traffic congestion situations on highways and urban expressways within a single lane. The company has also been issued the first official license plate specifically for L3 autonomous driving vehicles.
Despite ongoing losses, Deepal Auto has shown promising growth. Financial reports indicate revenues of 15.677 billion yuan (2.19 billion USD) in 2022, 26.926 billion yuan (3.77 billion USD) in 2023, and 37.224 billion yuan (5.21 billion USD) in 2024. While the company reported net losses of 3.196 billion yuan (447 million USD), 3.107 billion yuan (435 million USD), and 1.571 billion yuan (220 million USD) during these years respectively, the trend shows improvement. As of October 31, 2025, Deepal Auto had total assets of 31.474 billion yuan (4.41 billion USD), with revenue reaching 39.797 billion yuan (5.57 billion USD) and losses narrowing to 1.025 billion yuan (144 million USD).
The company’s sales have been increasing steadily, with global sales exceeding 30,000 units in September 2025, representing a 48.1% year-on-year growth. In October, sales further increased to 36,800 units. According to Changan Automobile’s Board Secretary Zhang Deyong, Deepal Auto can achieve break-even when monthly sales reach 30,000 units. Deepal Auto’s Chairman Deng Chenghao stated in late November that the company has “already achieved profitability in some months.”
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