Guangzhou Automobile Co (GAC Group) all-electric spin-off Aion has announced it’s preparing for an initial public offering (IPO) stock market listing.
As reported by Autocar, Aion head of public relations Yin Jie told media at a recent press conference at the Guangzhou Municipal Government Information Office in China the company is “making every effort to prepare for an IPO”.
A timeframe for the IPO hasn’t been revealed yet, though it’s understood Aion is looking to list on the Shanghai Stock Exchange STAR Market.
During the press conference Mr Yin also announced Aion will detail its global business strategy later this year. It’s currently targeting an annual production volume of 1 million cars by 2025.
LX Plus
As previously reported, it’s expected Aion will enter the Australia new car market from the second half of 2024, with a wider rollout from 2025.
Like Tesla and Polestar, it’s expected to use a direct-to-consumer sales model rather than engaging with franchise dealer partners.
GAC Aion currently advertises eight models at home in China, only some of which will be starters for Australia, in factory right-hand drive.
Expected to be first off the mark is the youth-focused Aion Y Plus MPV. This EV offers a claimed NEDC range of between 430km and 610km, depending on the variant, with motor outputs of 150kW and 225Nm.
Y Plus
The other vehicle Aion expects to offer at or near launch is a new-generation SUV that’ll be larger than the Y Plus. Aion currently sells the LX Plus and V Plus in China, and we understand the Australian model will be a next-generation successor to both.
Headline acts from a branding perspective will be the GAC Aion Hyper GT and Hyper SSR.
The Hyper GT is a wild-looking fastback that rivals the Tesla Model 3, offering an incredibly slippery drag coefficient of 0.19, 250kW of power, a 0-100km/h claim of 4 seconds, butterfly doors, and a 900V architecture. It even has LiDAR.
The company hopes that an updated version of this car, potentially including a dual-motor performance model, will come in right-hand drive around 2025.
Hyper GT
Finally, every brand needs a halo product – not one designed to sell in great volume but rather to serve as great marketing. For GAC Aion, this is the left-hand drive-only Hyper SSR supercar.
The Aion Hyper SSR, which GAC dubs “China’s first supercar”, has been designed to set “a new benchmark for China’s auto industry” in terms of both performance and manufacturing.
The company claims the hi-po EV accelerates from 0-100km/h in an insane 1.9s in top-spec guise, or 2.3s in entry-level form.
Hyper SSR
The e-motor with Porsche-style two-speed transmission pushes out a claimed 900kW (1225hp), which under full throttle “brings a strong push back feeling comparable to a rocket launch at 1.7G”.
The company also mentions the use of aviation tyre tech with low heat retention, and 900V silicon carbide chips that work 2.5-times faster while drawing less power.
GAC Aion also produces the sleek Camry-sized S Plus sedan, but given local tastes this seems less likely for us.
