GAC Aion will set up its Southeast Asia headquarters in Thailand within this year, with local production in the country in active preparation, it said.
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GAC Aion, the electric vehicle (EV) subsidiary of GAC Group, has announced its entry into the Thai car market, becoming the latest Chinese EV maker to do so.
On June 28, GAC Aion signed a memorandum of cooperation with a Thai dealership to officially enter the Thai market, kicking off the brand's internationalization, said an announcement yesterday.
The signing is the first step in the overseas strategy of GAC Aion, which will set up its Southeast Asian headquarters in Thailand within this year, it said.
Meanwhile, local production of models offered in Thailand is in active preparation, GAC Aion said.
Going forward, GAC Aion will deepen its efforts in the Thai market and expand its presence in Southeast Asia, it said.
GAC Aion sold a record 45,003 vehicles in May, its third consecutive month of more than 40,000 units, according to figures it released earlier this month.
In a ranking released earlier this month by the China Passenger Car Association (CPCA), GAC Aion ranked second among the top 10 NEV retail sales, behind BYD's 220,735 units.
GAC Aion plans to produce and sell 500,000 pure electric vehicles this year and launch overseas business efforts, GAC Group spokesman Yin Jie said at a June 27 press conference held by the Guangzhou municipal government.
GAC Aion is the latest local car company to announce its entry into Thailand. As competition in China's EV market grows fiercer, several car companies have set their sights on overseas markets.
Nio (NYSE: NIO) and Xpeng (NYSE: XPEV) are currently focusing their overseas efforts on Europe, in terms of choosing their first overseas market.
Other Chinese EV makers, including Neta Automobile and Leapmotor, are targeting less economically developed markets in Southeast Asia or the Middle East.
On August 24, 2022, Neta announced the launch of the right-hand-drive version of the Neta V EV at a launch event in Thailand, as its first model offered there.
On March 10 this year, Neta laid the foundation stone for its factory in Bangkok, Thailand, which will be its main manufacturing base for building right-hand-drive electric vehicles for export to ASEAN.
GAC Aion aims to sell 500,000 all-electric vehicles this year
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