AION's International Expansion Strategy Gains Local Government Support, Boosting Presence in Thai Market

GUANGZHOU,China,July 18,2023 -- AION,an emerging new energy vehicle manufacturer under Guangzhou Automobile Group (GAC),hosted a delegation from Thailand's Eastern Economic Corridor (EEC) on July 13th. Following the signing of AION's first memorandum of understanding for business cooperation with Thailand's GOLD INTEGRATE on June 28,2023,this visit by the Thai delegation represents a pivotal moment for AION as it accelerates its international expansion strategy and looks to solidify its position as a burgeoning player in the global automotive industry.

(Key executives from GAC Group and AION with Thailand's EEC delegation)

The delegation,comprised of high-ranking officials and influential business leaders,paid a visit to AION's smart factory to witness its advanced production process. More than 400 robots were working in tandem to facilitate intelligent production,a sight that left a lasting impression on the visitors. Chula Sukmanop,Secretary General of EEC,commended the manufacturing standards of AION,comparing them to those of the Boeing factory in the United States,which he had previously toured. He expressed optimism about the future development of Thailand's automotive industry with AION's involvement.

(Mr. Chula Sukmanop in AION’s star product)

The delegation also had fruitful discussions with key executives from AION and GAC Group,exchanging views on the mutual benefits of market expansion and collaboration. AION emphasized the importance of entering the Thai market,considering it a crucial strategic move in its global expansion. Through localized production in Thailand,AION will not only bolster the competitiveness of its products in the local market but also accelerate the growth of its international operations. Additionally,it will play a vital role in meeting the growing demand for new energy vehicles in the Southeast Asian market and its surrounding regions through sustained and scalable production.

(The Thailand EEC delegation in AION’s smart factory)

For Thailand,this collaboration represents an opportunity to foster local employment,facilitate industry transformation and upgrading,while enriching the choices and experiences available for Thai consumers. The government's ambitious plan to expand production of electric vehicles aligns perfectly with AION's entry into the market. The introduction of the brand's globally leading technologies will contribute to positioning the country as a hub for electric vehicles in the ASEAN bloc,furthering the government's objectives for new energy industry development.

Gu Huinan,General Manager of AION,said that AION will continue to expand into Southeast Asia and the surrounding regions based on solid development in the Thai market and to integrate research,production,supply,and sales in the global market.

As part of its international development plan,AION will establish a sales subsidiary soon to explore the Thai market,thereby laying the groundwork for a subsequent manufacturing subsidiary. The company plans to launch its marquee products in Thailand during the third quarter of this year. AION's extensive range of intelligent electric vehicle models has already garnered widespread acclaim for their cutting-edge technologies and exceptional performance,with a cumulative sales volume of over 200,000 units in the first half of 2023,up 109% year-on-year.

While pursuing its global development goals,AION will work closely with local distributors in Thailand,aiming to establish at least 30 sales outlets covering major regional markets by the end of the year. Through partnerships and joint efforts,the company aims to expedite the development of Thailand's new energy industry with innovation and technological advancements. Furthermore,by reinforcing its presence in the Thai market,AION seeks to bolster the growth of Thailand's green economy and expand its influence across Southeast Asia and other regions.