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ENOVATE, a high-end brand under the umbrella of Dianjia Automobile, was established in Zhejiang in 2015. As a pioneer in premium mobility technology, ENOVATE is dedicated to exploring the beauty of mobile travel, providing a constantly evolving personal intelligent travel terminal for those who are born to make a difference. In November 2017, ENOVATE signed a cooperation agreement with the Shaoxing base project, and in 2018, the manufacturing base in Shaoxing officially commenced construction. In September 2018, the first high-end SUV of the ENOVATE brand made its debut in Hangzhou, and in November, the Chinese name for the ENOVATE brand, "ENOVATE," was revealed. ENOVATE is positioned to explore the beauty of mobile travel, adhering to the brand philosophy of global design, top-tier quality, and intelligent connectivity. The brand's DNA revolves around the user as the core, with the physical as the foundation and the digital as the wings, creating a company that combines manufacturing and service, quality and brand, pragmatism and innovation, dreams and action. The core team has an average of over 20 years of experience in the automotive field, coming from luxury brands such as Porsche and BMW, mainstream brands like Volkswagen and General Motors, and talents with new internet thinking. ENOVATE's first product is the 5+X intelligent electric SUV, the ENOVATE ME7, which officially rolled off the production line in December 2019 and was officially launched in September 2020, with a post-subsidy price ranging from 218,800 RMB to 289,800 RMB. The ENOVATE ME7 adopts the design concept of "Pioneering Reconstruction Aesthetics," focusing on cutting-edge technology and constant evolution, relying on the spirit of German quality craftsmanship to create an ultimate driving and riding pleasure experience. ENOVATE plans to launch a new product every year from 2020 to 2023, covering mainstream models. In December 2022, ENOVATE Automobile (Changsha) Group Co., Ltd. signed a joint venture contract with Saudi Arabia, becoming the first Chinese new energy vehicle company to produce in Saudi Arabia. In March 2023, ENOVATE announced the completion of a new round of financing of 750 million RMB. However, in the same month of March, ENOVATE Automobile (Changsha) Group Co., Ltd. issued a notice of suspension of production and work, and from April 1, 2023, the company implemented a policy of suspension of production and work for some positions.