GAC to promote electric vehicles to be listed in Hong Kong to raise US$1 billion

GAC Group is seeking to list its electric vehicle division GAC Aion in Hong Kong, intending to raise about $1 billion. This is part of GAC Group's accelerated layout in the electric vehicle market, aimed at providing financial support for the development of its electric vehicle business. GAC Aion had previously been rumored to be going public in Hong Kong, and industry insiders believe that the Hong Kong capital market usually gives a higher valuation to the automotive industry than A-shares.