On August 25, GAC Group announced two important proposals. First, they approved the establishment of an independent battery company to implement the industrialization of independent batteries. This project’s total investment is RMB 10.9 billion, with 51%, 40%, and 9% of the shares held by GAC Aion, a holding subsidiary, GAC Motor, a wholly-owned subsidiary, and GAC Business, respectively. In addition, through the “Proposal on the Construction of a Battery Production Base of Greater Bay Technology”, Greater Bay Technology, GAC Group’s joint-stock company, was approved to construct a battery production base to launch the mass production of cells, modules, and PACK systems for fast charging power batteries. The total investment in this project is RMB 3.69 billion.

Based on the plan, the construction of the self-owned battery factory will begin at the end of this year. In addition, a mass production line of 26.8 Gwh will be completed by 2025. During the early stages, the project will mainly support Aion and the enterprises within GAC Group to steadily increase its share in the battery market. Later, it will actively expand its external market and conduct market-oriented operations.

The Greater Bay Technology Battery Production Base Project includes the construction of cell production workshops, PACK workshops, a R&D testing center, trial production workshops, a battery safety laboratory, etc., in order to produce cells, modules, and PACK systems of advanced energy storage devices such as fast charging batteries.

Within one day, two significant projects on battery industrialization were launched. This indicates the high priority given by GAC Group to and its rich reserves in the independent production of new energy batteries. In the battery industry, GAC Group has started deployment early and made a range of significant accomplishments.