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GAC NE said to spin off Aion as independent brand

Monika From Gasgoo| October 22 , 2020 16:19 BJT

Shanghai (Gasgoo)- Aion, the NEV brand of GAC New Energy Automobile Co.,Ltd (GAC NE), will be separated as an independent brand in November, which will run in parallel with GAC Trumpchi, according to a local media outlet.

The announcement is said to be released before the 2020 Guangzhou International Automobile Exhibition.

GAC NE said to spin off Aion as independent brand

Aion V; photo credit: GAC NE

Founded on July 28, 2017, GAC NE has a line of business including the sale of charging piles, the new energy vehicle (NEV)-related technical service, technology transfer service and technology consultation service, as well as the R&D pertaining to intelligent-connected vehicles (ICVs), according to the corporate data platform Tianyancha.

Tianyancha's records show that the registered capital of GAC NE increased to 1,418,970,000 yuan ($212,892,326) from 782,720,000 yuan ($117,433,830). The automaker said this is a normal capital increase made by shareholders and the money will be deployed into the R&D of new technologies and the development of new products.

As the major part of GAC NE's product lineup, the Aion series currently has three models—the Aion S, the Aion V and the Aion XL. According to GAC Group, GAC NE saw its Sept. sales surge 75% year on year to 7,006 units, 98% of which were from the Aion series.

GAC NE said to spin off Aion as independent brand

Aion S; photo source: GAC NE

Hitting the market in April 2019, the Aion S has been serving the biggest sales contributor to Aion series. For the first nine months of the year, 30,515 consumers in China took delivery of the Aion S BEVs, representing a 113.7% hike over the previous year, according to the China Passenger Car Association (CPCA). It was also honored the No.2 China-made NEV model by Jan.-Sept. deliveries.

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