sold 271,156 vehicles for the full year 2022, and the latest target implies an 84.4 percent increase.

(Image credit: CnEVPost)

GAC Aion, the electric vehicle (EV) subsidiary of Guangzhou-based GAC Group, is targeting sales of about 500,000 vehicles this year, implying an almost doubling of growth from last year.

GAC Aion plans to produce and sell 500,000 pure-play EVs this year and launch its overseas business efforts, GAC Group spokeswoman Yin Jie said at a June 27 press conference held by the Guangzhou municipal government.

GAC Aion will aim to exceed 1 million vehicles in annual production and sales by 2025, Yin said, adding that the company is now moving full steam ahead with its initial public offering (IPO) efforts.

For the full year 2022, GAC Aion sold 271,156 vehicles, according to data monitored by CnEVPost.

This year's sales target of 500,000 vehicles would represent an 84.4 percent increase.

GAC Aion sold a record 45,003 vehicles in May, its third consecutive month of more than 40,000, figures it released earlier this month show.

This represents a 113.73 percent increase over the 21,056 vehicles sold in the same month last year and a 9.73 percent increase over the 41,012 vehicles sold in April.

In a ranking released earlier this month by the China Passenger Car Association (CPCA), GAC Aion ranked second among the top 10 new energy vehicle (NEV) retail sales, behind 's 220,735 units.

From January to May, GAC Aion sold 166,323 vehicles, which was an increase of 118.44 percent from 76,142 units in the same period last year.

This makes GAC Aion the No. 3 player in retail sales in China from January to May, behind BYD with 923,343 units and with 219,893 units.

GAC Group aims to see NEVs contributing 25 percent of sales by 2025, with its own brands contributing 50 percent of those NEV sales, Yi said in the press conference.