As the new year commences, China's top electric vehicle manufacturers have been announcing their delivery volume for the final month and entire year of 2022, a challenging period marked by repeated pandemic-induced lockdowns and supply chain shortages.
In order to solve the problem of high battery costs and improve profit margins, many Chinese car companies have begun to directly enter the battery supply chain in various ways.
Chinese automaker GAC Group announced on October 20 that its subsidiary GAC Aion has completed round-A financing of 18.294 billion yuan ($2.42 billion) from a total of 53 strategic investors, boosting its post-investment valuation to 103.294 billion yuan.
On August 26, GAC AION's A-round of capital fundraising was officially listed on the Guangzhou United Assets and Equity Exchange.
At the Chengdu Motor Show on August 26, GAC AION launched its 2023 AION V Plus pure electric SUV. The new vehicle is available in 10 versions, including a 7-seat version for the first time.
Chinese automotive firm GAC Group announced two important proposals on August 25, including one to set up an independent battery company, and another to allow a company it has invested in to build a battery production base.
News emerged on August 23 that the cooperative project between Huawei and GAC AION has been suspended, and now the two sides are only involved in parts supply and procurement. AION's spokesperson denied the report.