August 10, 2022

GAC Aion builds power battery mass production line

On July 21, Chinese media outlet Cailian Press learned from sources familiar with the matter that Aion, a new energy vehicle brand of Guangzhou Automobile Group (GAC Group), is setting up an electric battery company to promote the disposal industrial self-developed batteries. , realizing independent and controllable battery power supply.

Zeng Qinghong, Chairman of GAC Group, said at the 2022 Global EV&ES Battery Conference that the company is currently developing batteries and purchasing mining resources to build better consumer electric vehicles. He also said that at this stage, the cost of power batteries is high, and the associated raw materials increase significantly. According to the executive, “the cost of the power batteries represented 40 to 50% or even 60% of the construction of a new energy vehicle. Am I not working for CATL now? »

Aion was established on July 28, 2017. Since the launch of the first Aion S model in April 2019, the brand has successively launched a variety of new energy vehicle products such as Aion S, LX, V and Y, covering different groups of users. high, medium and low grades.

On July 18, Aion officially started pre-listing on the Guangdong United Assets and Equity Exchange, and completed A round of financing. It is understood that the funds raised this time will be focused on developing new products, R&D of next-generation batteries and electric controllers, and core technologies such as smart driving, cockpit, ecology and capacity expansion.

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This capital increase aims to further open up financing based on the introduction of strategic investors and the finalization of employee profit-sharing in March 2022.

The pre-listing round A capital increase also indicates that Aion will soon be listed. At a financial reporting media event at the end of March this year, Feng Xingya, the general manager of GAC Group, said, “Aion is expected to complete the A round of financing in the third quarter. . If global conditions allow it, it will be listed at the right time next year.