GAC Energy announces registration of subsidiary in Thailand

Shanghai (Gasgoo)- On May 14, 2024, GAC Energy Technology (Thailand) Co., Ltd. ("GAC Energy Thailand") was officially incorporated in Bangkok, focusing on the new energy vehicle charging business, GAC Energy, a subsidiary of GAC Group, announced via its WeChat account.

GAC Energy Thailand features a business scope including charging station operation, as well as import and export of charging piles, energy storage, and photovoltaic products. It will offer installation services for residential charging stations. Besides, the company plans to expand its services gradually across Thailand.

Currently, the global shift towards electrification is unstoppable. Southeast Asia is at a critical juncture in its automotive energy transition, rapidly advancing the adoption of new energy vehicles. In Thailand, the growth of new energy vehicles significantly exceeds the volume of available charging infrastructures, leading to increasing demand-supply challenges in charging.

According to the latest data from China's National Development and Reform Commission, China's production and sales of new energy vehicles account for more than 60% of the global market's volume, maintaining the world's leading position for nine consecutive years. In August 2023, GAC Group's new energy vehicle manufacturer, GAC AION, announced that 100 units of its AION Y Plus model were ready for export from Nansha Port in Guangzhou, with the first batch shipped to Laem Chabang Port in Thailand. At the beginning of 2024, GAC AION officially initiated a dual-factory strategy in Thailand and Indonesia to enhance its international supply chain for new energy vehicles.

Following this development, GAC Energy has started investment and construction planning to provide charging services globally, in a bid to share China's smart home charging and ultra-fast charging technologies with users worldwide. In the future, guided by GAC Group's '1551' strategy for global business expansion, GAC Energy will continue to expand its service network in more countries and regions globally.