GAC Aion, the electric vehicle (EV) subsidiary of GAC Group, has commenced the construction of its first overseas production facility in Thailand. The plant, situated in Rayong province within Thailand's Eastern Economic Corridor (EEC), broke ground on January 26, with an anticipated investment of THB 2.3 billion ($65 million).
The facility, designed for an annual capacity of 50,000 units, will be constructed in two phases, with the initial phase slated for completion in July 2024.
The inaugural model set to roll off the production line at the Thai plant is a right-hand drive variant of the Aion Y Plus. GAC Aion introduced this model to the Thai market in September 2023, presenting consumers with two versions featuring starting prices of THB 1,069,900 and THB 1,299,900, respectively. The Aion Y Plus is currently offered in 11 versions in China, with prices ranging from RMB 119,800 ($16,690) to RMB 189,800.
GAC Aion's entry into the Thai market aligns with its broader international expansion strategy. The company showcased five models, including the Aion Y Plus and Hyper sub-brands, at the Thailand auto show in November 2023. GAC Aion plans to establish a robust presence in Thailand with partnerships with dealer groups, aiming for 70 sales outlets and service centers by 2024.
The Thai plant's construction signals GAC Aion's commitment to building an international talent pool based on its Thai operations, contributing to its ambitious target of achieving 1 million sales by 2025.
The company's global expansion also includes recent entries into the Cambodian and Hong Kong markets, showcasing its determination to tap into international consumer demand.