Shanghai (Gasgoo)- GAC NIO New Energy Automotive CO., (GAC NIO) is working with NIO, one of its parent companies, to research and develop a new vehicle platform based on level 4 autonomous driving technologies, Liao Bing, CEO of GAC NIO, told the local media outlet Yicai last week.
“Building such a platform will involve a tremendous cost which is much burdensome to whether GAC NIO or NIO. Thus, we are discussing an introduction of more companies,” said Mr. Liao.
(HYCAN 007, photo source: HYCAN's WeChat account)
Founded on April 2018, GAC NIO has a registered capital of 500 million yuan ($70,637,430), which is 45% contributed by GAC Group and 45% subscribed by NIO. It is defined as a joint venture co-created by the two automakers based on the idea of integrating their advantageous resources, absorbing advanced manufacturing experience, applying Internet thinking, as well as focusing on product R&D, marketing and relevant services.
“With the asset-light strategy as a gateway, GAC NIO is able to cope with market challenges more flexibly and effectively,” Zeng Qinghong, chairman of GAC Group, said in May when receiving a local interview, “highlighting the user-centric idea, it invites consumers to join the development of vehicles and spin-off products.”
GAC Group attaches more importance to the exploration of Internet and autonomous driving technologies and the business model innovation than to sales increase, while NIO seeks to spread R&D costs by teaming up with GAC, a person close to GAC NIO spoke of why GAC NIO was founded.
HYCAN, the BEV brand launched by GAC NIO, put its first mass-produced model HYCAN 007, onto the market on April 10, and formally kicked off the delivery on May 20. The all-electric SUV measures 4,879mm long, 1,937mm wide and 1,680mm tall, and its wheelbase spans 2,919mm, similarly sized to the GAC NE's Aion LX.
According to Liao Bing, HYCAN has been authorized to use some of NIO's technologies and it is partnering with NIO on R&D. Besides, GAC NIO also draws expertise and resources in developing service networks from NIO, which greatly touts its user experience centers and NIO Power.
“We aim to deliver 5,000 to 10,000 vehicles this year,” Liao Bin told the local media. This is truly an ambitious goal for a startup. As the most high-profile EV startup in China, NIO handed over a total of 42,342 new vehicles as of May 2020.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:firstname.lastname@example.orgSeller Service:email@example.com