EV Specialist GAC Aion Enters Thailand with Plans for Local Production

Jul 2023

Electric vehicle (EV) specialist GAC Aion has recently signed a memorandum of cooperation with a Thai dealer to officially enter the Thai market, initiating the brand’s internationalization. The company has also announced that it is preparing plans for manufacturing in Thailand. The agreement covers the establishment of a Southeast Asian headquarter for Aion, as well as an AION subsidiary in Thailand which will work closely with local distributors to supply the Thai market.

Thailand is the largest automobile manufacturer and exporter in Southeast Asia. It is also the region’s largest electric vehicle market, with the EV industry supported by government policies such as tax and fee reductions, consumer cash subsidies, and investment support. These factors make Thailand an attractive destination for investment and headquarter location. Aion predicts that future expansion of sales outlets and more localized production will boost local employment and economic growth. The headquarter will serve as a base for the company’s Southeast Asia business, providing a fully-equipped on-the-ground contact point, and playing a core supporting role for any further expansion. In just 5 years, AION registered an average annual compound growth rate of over 120%. In 2022, sales volume reached 271,200 vehicles, a year-on-year increase of 126%, with annual revenues of USD 5.3 billion.

(Source: Bangkok Post)

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