GAC Aion Revenue, Valuation, Funding & Investors

GAC Aion is valued at $15B as of October 2022, a 6.0x multiple on its last reported $2.5B revenue.

Last GAC Aion valuation

$15B

Series A · Oct 2022

Last GAC Aion funding round

$2.5B

Series A · Oct 2022

GAC Aion revenue

$2.5B

Series A · Oct 2022

Key investors in GAC Aion

  • Shenzhen Capital Group
  • Yingke Capital
  • GoldStone Investment
  • China Structural Reform Fund
  • PICC Capital Investment Management
  • Guangzhou Automobile Group

GAC Aion Overview

About GAC Aion

GAC Aion is a Guangzhou-headquartered electric vehicle manufacturer established in 2017 as a sub-brand of Guangzhou Automobile Group. The marque produces passenger EVs including the Aion S sedan, Aion LX SUV, and Hyper series performance models while offering battery swapping stations and charging infrastructure services across China.


Founded

2017

HQ

ChinaGuangzhou

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Revenue

$2.5B (Oct 2022)

Valuation

$15B (Oct 2022)

GAC Aion Valuation

GAC Aion is currently valued at $15B, based on its Series A in October 2022.

The $2.5B round included Guangzhou Automobile Group, Essence Capital, GoldStone Investment, Yingke Capital, China Southern Power Grid and 3 other investors.

GAC Aion valuation by funding round

GAC Aion valuation by funding round
DateStageValuationRevenue Multiple
Oct 2022Series A$15B6.0x

GAC Aion Revenue

GAC Aion's latest recorded revenue is $2.5B, as of its Series A in October 2022. At a $15B valuation, that implies a 6.0x revenue multiple.

GAC Aion revenue by funding round

GAC Aion revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Oct 2022$2.5B$15B6.0xSeries A

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

GAC Aion Funding History

GAC Aion has raised a total of $2.5B across 1 funding round.

GAC Aion funding rounds

GAC Aion funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2022Series AGuangzhou Automobile Group; Essence Capital; GoldStone Investment; Yingke Capital; China Southern Power Grid; Shenzhen Capital Group; China Structural Reform Fund; PICC Capital Investment Management$2.5B$15BGAC Aion New Energy Automobile, the new energy vehicle subsidiary of GAC Group, completed its Series A financing round on October 20, 2022, raising RMB 18.29 billion ($2.5 billion) from 53 strategic investors including China Southern Power Grid, China Structural Reform Fund, Essence Capital, GoldStone Investment, Guangzhou Automobile Group, PICC Capital Investment Management, Shenzhen Capital Group, and Yingke Capital. The investors acquired a 17.72% stake, resulting in a post-money valuation of RMB 103.2 billion. The funds support new product development, next-generation battery and electric drive R&D, intelligent driving, smart cockpit technologies, energy ecology, and capacity expansion. In 2021, GAC Aion reported revenue of RMB 17.27 billion, with prior years at RMB 5.23 billion in 2019 and RMB 7.61 billion in 2020, alongside net losses of RMB 621 million, RMB 688 million, and RMB 1.389 billion respectively. Sales performance was strong, with 30,063 vehicles sold in October 2022 (cumulative 212,384 units Jan-Oct), 30,016 in September, and 182,000 in the first nine months, up 132% year-on-year, ranking fifth among Chinese NEV makers. The financing positions GAC Aion for potential IPO in 2023 and strengthens its supply chain in power batteries and auto chips, with GAC Group's stake diluting to 76.9%. The company focuses on models like Aion S, LX, V, Y, and launched premium brand Hyper with the SSR supercar.

Who has invested in GAC Aion?

8 investors have backed GAC Aion across its funding rounds, including Shenzhen Capital Group, Yingke Capital, GoldStone Investment, China Structural Reform Fund, PICC Capital Investment Management and Guangzhou Automobile Group.


GAC Aion Investors

Investors in GAC Aion by funding rounds participated
InvestorHQRoundsRoleFirst check
Guangzhou Automobile GroupChinaGuangzhou1ParticipantOct 2022
Essence CapitalChinaShenzhen1ParticipantOct 2022
GoldStone InvestmentChinaBeijing1ParticipantOct 2022
Yingke CapitalChinaFuzhou1ParticipantOct 2022
China Southern Power GridChinaGuangzhou1ParticipantOct 2022
Shenzhen Capital GroupChinaShenzhen1ParticipantOct 2022

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GAC Aion Competitors

GAC Aion competitors include listed companies like Tata Motors, Tata Motors Passenger Vehicles and XPENG, and private ones like Tata Passenger Electric Mobility, Smart and Zhiji Auto.

Public and private companies comparable to GAC Aion
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Tata MotorsIndiaIndiaPublicly listed$8.7B$720M$17B1.8x
Tata Motors Passenger VehiclesIndiaIndiaPublicly listed$35B$2B$12B0.4x
XPENGChinaChinaPublicly listed$11B$156M$10B1.0x
Tata Passenger Electric MobilityIndiaMumbaiPrivate--$9.1B-
SmartGermanyStuttgartPrivate--$5.3B-
Zhiji AutoChinaShanghaiPrivate--$4.3B-

GAC Aion Public Comps

GAC Aion is still privately-owned, but its public comps include Great Wall Motor, Kawasaki Heavy Industries, Tata Motors, Tata Motors Passenger Vehicles, Subaru, Seres Group, Li Auto, Hyundai Motors India, Yamaha Motor and Chery Automobile.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Great Wall Motor$33B$1.9B0.4x0.4x7.6x5.3x
Kawasaki Heavy Industries$15B$933M1.3x1.2x20.6x11.0x
Tata Motors$8.7B$720M1.8x1.8x22.2x14.7x
Tata Motors Passenger Vehicles$35B$2B0.5x0.4x8.0x5.8x
Subaru$31B$2B0.1x0.1x1.4x1.8x
Seres Group$25B$1.7B0.2x0.2x2.9x4.7x
Li Auto$17B$624M0.1x0.1x2.1x(11.6x)
Hyundai Motors India$7.2B$938M2.4x2.2x18.4x18.8x

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Common questions about GAC Aion

When was GAC Aion founded?GAC Aion was founded in 2017.
Where is GAC Aion headquartered?GAC Aion is headquartered in Guangzhou, China.
Is GAC Aion publicly listed?No, GAC Aion is a private, VC-backed company.
What is GAC Aion's valuation?GAC Aion was last valued at $15B in its Series A in October 2022.
How much funding has GAC Aion raised?GAC Aion has raised $2.5B across 1 funding round.
What was GAC Aion's last funding round?GAC Aion's last funding round was a $2.5B Series A in October 2022.
Who are GAC Aion's investors?GAC Aion's investors include Guangzhou Automobile Group, Essence Capital, GoldStone Investment, Yingke Capital, China Southern Power Grid, Shenzhen Capital Group, China Structural Reform Fund and PICC Capital Investment Management.
What is GAC Aion's revenue?GAC Aion's latest recorded revenue is $2.5B (October 2022).
What is GAC Aion's revenue multiple?GAC Aion's latest valuation implies a 6.0x revenue multiple ($15B valuation on $2.5B of revenue).
Which companies are comparable to GAC Aion?Companies comparable to GAC Aion include Tata Motors, Tata Motors Passenger Vehicles, XPENG, Tata Passenger Electric Mobility, Smart and Zhiji Auto.

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