Guangzhou Automobile Group Co., Ltd., commonly known as GAC Group, is a prominent state-owned Chinese automobile manufacturer. Headquartered in Guangzhou, Guangdong, and founded in 1955, GAC Group is the fifth-largest automobile manufacturer in China, boasting 2.144 million sales in 2021.
Company Profile: GAC Group designs, manufactures, and sells a wide range of automotive products including commercial vehicles, passenger cars, buses, and automotive components. The company is also involved in vehicle leasing, after-sale services, and vehicle finance.
Brands and Products: GAC produces vehicles under its own brands such as Trumpchi, Aion, and Hycan, and through joint ventures like GAC-Toyota, GAC-Honda, and GAC-Mitsubishi. It also produces electric vehicles under brands like Aion and Hycan, and buses under the GAC Bus brand.
Significant Milestones and Achievements:
- Fourth largest Chinese plug-in electric vehicle manufacturer in the Chinese market in 2021, with 4% market share.
- Sold 123,660 units of EVs in 2021, with over 20,000 units in March 2022.
- Plans to double EV production capacity to 400,000 a year by December 2022.
History: Founded in 1955, GAC Group became a holding of Guangzhou Automobile Industry Group in 2005 and a joint-stock company. The company acquired 29% of Changfeng Automobile in 2009 and completed its acquisition in 2011. GAC Group became listed on the Hong Kong Stock Exchange in 2010. In 2010, GAC Group launched the Trumpchi brand, with initial products based on the Alfa Romeo 166.
Key Brands:
- Trumpchi: GAC Group’s own automotive marque launched in 2010.
- Aion: A brand under GAC New Energy Automobile Co, focusing on electric vehicles.
- Hycan: Another electric vehicle brand under GAC Group.
Joint Ventures: GAC Group has several joint ventures, including:
- GAC Honda: A 50:50 joint venture with Honda.
- GAC Mitsubishi: A joint venture with Mitsubishi Motors.
- GAC Toyota: A joint venture with Toyota Motor Company.
- GAC Hino: Producing Hino-based trucks.
- GAC BYD: Producing BYD-designed buses.
International Operations: GAC Group has expressed intentions to enter the United States market and has showcased models at the North American International Auto Show. The company has established research and development teams in Silicon Valley and Los Angeles. It also has offices and partnerships in various countries, including Lebanon, Qatar, and Chile.
Sponsorships: GAC has sponsored several international events, including the World Table Tennis Championships and the ITTF World Tour.