GAC AION announces establishment of energy subsidiary

Shanghai (Gasgoo)- GAC AION announced on July 26 the formal establishment of GAC Energy Technology Co., Ltd. it jointly built with GAC Group, marking substantial progress following GAC Group's approval to set up this company on March 22.

According to the corporate information provider Tianyancha, the new company was incorporated on July 19. It will operate businesses like the construction and operation of EV charging and battery swapping network, technology development, the operation and management of battery assets, energy transaction, electricity production from solar power, energy storage technology, as well as data processing and storage, with around 4.96 billion yuan ($732.97 million) to be invested over the next several years.

AION LX Plus; photo credit: GAC AION

In the future, GAC Energy Technology Co., Ltd. will work on building a battery recycling ecosystem and an energy ecosystem that integrates photovoltaic, energy storage, EV charging, and battery swapping. In addition, the newborn company will also strive to set up a highly efficient smart cloud-based energy platform, promote the research of energy storage system technology, and bolster the development of smart EV charging and battery swapping services, technologies, and products.

In the first half of 2022, GAC AION sold 100,251 new vehicles. In June alone, the company's sales exceeded 24,000 units. As for the layout in energy ecosystem, the NEV maker is ambitious to build 2,000 supercharging & battery swapping centers in 300 cities nationwide by 2025.