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The brand, Hycan, and the concept SUV were unveiled in the east China city of Hangzhou on Monday,
Nio, GAC unveil joint EV brand
Automotive News China | 2019/5/24

Electric vehicle startup Nio and state-owned automaker Guangzhou Automobile Group Co. have launched a brand and a concept SUV as part of their joint effort to explore China¡¯s EV market.

The brand, Hycan, and the concept SUV were unveiled in the east China city of Hangzhou on Monday, said the companies¡¯ joint venture, GAC Nio New Energy Vehicle Co. 

The production version of the SUV will be built at GAC¡¯s electric vehicle plant in the south China city of Guangzhou. The production model will be unveiled this year and go on sale in China in the first half of 2020.

The electric SUV will have a range of more than 600 kilometers (373 miles) on a full charge. Further details about the vehicle were undisclosed. 

GAC Nio, with registered capital of 500 million yuan ($72.5 million), was established in 2017 as a 45-45-10 partnership among GAC, Nio and its management team.  

Nio was incorporated in Shanghai in 2014. Sales of its first product, the ES8 seven-seat SUV, totaled 15,337 through March after going on sale in China in June. Nio started taking orders for its second product, the ES6 five-seat crossover, in December. 

GAC, headquartered in Guangzhou, delivered 20,045 full-electric and plug-in hybrid vehicles in 2018, nearly quadrupling the number a year earlier. It also runs vehicle joint ventures with global automakers including Toyota Motor Corp., Honda Motor Co. and Fiat Chrysler Automobiles in China.

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