GAC Aion, the electric vehicle (EV) subsidiary of Guangzhou-based GAC Group, is targeting of selling approximately 500,000 vehicles this year, reflecting a significant surge in growth compared to the previous year.
During a press conference held on June 27 by the Guangzhou municipal government, Yin Jie, spokesperson for GAC Group, revealed that GAC Aion plans to manufacture and sell 500,000 pure-play EVs in 2023 while concurrently launching their overseas business initiatives.
Yin stated that GAC Aion’s objective is to surpass the milestone of producing and selling 1 million vehicles annually by 2025. Additionally, she highlighted that the company is actively progressing with its initial public offering (IPO) efforts.
According to data monitored by CnEVPost, GAC Aion achieved sales of 271,156 vehicles throughout 2022. The projected sales target of 500,000 vehicles for this year would represent an impressive 84.4 percent increase.
Recent figures released by GAC Aion demonstrate a positive sales trend, with the company setting a record by selling 45,003 vehicles in May. This marks the third consecutive month in which GAC Aion has sold more than 40,000 units. In comparison to the same month last year, the May 2023 sales figure reflects a substantial increase of 113.73 percent. Moreover, it represents a 9.73 percent growth over the 41,012 vehicles sold in April.
In a ranking published earlier this month by the China Passenger Car Association (CPCA), GAC Aion secured the second position among the top 10 new energy vehicle (NEV) retail sales, trailing behind BYD, which recorded sales of 220,735 units.
From January to May, GAC Aion successfully sold 166,323 vehicles, signifying an impressive surge of 118.44 percent compared to the same period last year when sales reached 76,142 units. These figures position GAC Aion as the third leading player in retail sales in China from January to May, behind BYD with 923,343 units and Tesla with 219,893 units.
During the press conference, it was emphasized that GAC Group aims to have NEVs contribute to 25 percent of total sales by 2025, with their own brands accounting for 50 percent of these NEV sales.
As GAC Aion pushes forward with its ambitious sales targets, the company is poised for significant growth in the electric vehicle market, both domestically and abroad.