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HYCAN Taking its First Step Towards Mass Production
HYCAN Taking its First Step Towards Mass Production
Associated Company
NIO NIO

The launching ceremony of the first HYCAN (合创) model ET was held in the trial-production workshop of GAC-NIO New Energy Automotive Technology Co., Ltd on June 3. It is reported that the mass production version will be available at the end of the year, and is expected to be delivered in the first half of 2020.

GAC and NIO officially signed the contract on December 28, 2017. On April 10, 2018, GAC-NIO New Energy Automotive Technology Co., Ltd was officially established. The company is mainly engaged in the research, development, sales and service of pure electric vehicles. It also will carry out comprehensive cooperation in the upstream and downstream of the industrial chain, including the research and development of new energy vehicles, sales and service, lease operation, Internet of vehicles and autonomous driving and other fields.

GAC-NIO officially released the brand name "HYCAN" and its first concept car on May 20, 2019. The company does not refer to itself as a "joint venture", but rather as a "co-creation company".

Compared with the joint venture, cooperative creation mode not only brings together capital from multiple parties but also carries out innovation from multiple dimensions such as industry, resources, technology and users. Both parties learn from each other to achieve a win-win situation.

GAC is a traditional car enterprise, which has advantages over new car manufacturers in manufacturing, after-sales service, finance and other fields. For example, at present, NIO only builds NIO houses in first-tier and second-tier cities, but this direct sales model cannot cover third-tier and fourth-tier cities, while traditional car enterprises like GAC do the opposite (dealers).

As a new car manufacturer, NIO has advantages in the service system and r&d capacity of unique components of new energy vehicles (Battery, Motor, Electric Control).

In addition, the open cooperative innovation mode reserves possibilities for the injection of capital and resources, and the enterprises with intention can even apply to be partners. For production cars, the doors have hidden handles that are very similar to the NIO ES8. It is reported that the NEDC combined range of the HYCAN production model is more than 600km.

Enterprise Information

NIO is a global Chinese company that designs and develops electric autonomous vehicles.
CATEGORIES: Auto
Last Funding Type
IPO
Number of Employees
1001-5000
Number of Funding Rounds
7
Total Funding Amount
3.41B

Enterprise Information

NIO
NIO is a global Chinese company that designs and develops electric autonomous vehicles.
CATEGORIES: Auto
Last Funding Type
IPO
Number of Employees
1001-5000
Number of Funding Rounds
7
Total Funding Amount
3.41B

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