“The automotive industry is a marathon, and it is a marathon with no finish line.” Tan Benhong, deputy party secretary and director of Changan Automobile Group, said at a mid-year communication meeting.

 Strategic partnerships have become routine in China's car industry, from supply-chain coordination to overseas distribution and shared platforms.

Changan Automobile's first-quarter results looked alarming at first glance. Revenue fell 4.26% year on year to about $4.554 billion, while net profit attributable to shareholders dropped 74.09% to roughly $49 million, the weakest first-quarter showing in five years. For some investors, the numbers appeared to point to a deepening earnings crisis.

Deepal Auto's latest capital move comes at a moment when many in China's car industry believe 2026 will begin a decisive elimination round for new-energy brands.

 Changan Automobile has completed one of the more active leadership reshuffles in China's auto industry, with Zhao Fei taking over as president after the role sat vacant for eight months. His appointment closes a personnel cycle that also included changes across Qiyuan, Yinli, Avatr and Deepal.