Hechuang Automotive Technology
A high-end brand company that manufactures intelligent and new energy vehicles.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | CNY600m | Late VC | |
| Total Funding | 000k | ||
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Hechuang Automotive Technology, operating under the brand name Hycan, is a Chinese electric vehicle manufacturer headquartered in Guangzhou. The company originated as a joint venture, GAC-Nio New Energy Technology Co., Ltd., established in April 2018 by GAC Group and Nio Inc. The strategic intent was for GAC to leverage its manufacturing and research and development capabilities while Nio contributed its expertise in smart vehicle technology and EV infrastructure. In May 2019, the joint venture officially launched the Hycan brand.
A significant shift in ownership occurred in early 2021 when Guangdong Pearl River Investment Management Group became the largest shareholder, which led to the company's renaming as Hechuang Automotive Technology. Following this restructuring, Nio's stake was substantially diluted, and the company eventually withdrew as a shareholder in 2022. As of recent reports, the primary shareholders are Pearl River Investment, GAC Aion, and GAC Group. Recent developments in early 2025 indicate the company has become substantially defunct, with GAC Aion taking over after-sales services for Hycan products.
Hycan's business model is centered on the research and development, production, and sale of pure electric vehicles for the Chinese market, with recent explorations into overseas markets. The company's product lineup includes several models. The first to launch was the Hycan 007, a mid-size electric SUV based on the GAC Aion LX, which began production in April 2020. This was followed by the Hycan Z03, a compact crossover derived from the Aion Y. The portfolio expanded to include the A06 sedan, the first model built on Hycan's dedicated H-GEA pure electric architecture, and the V09, a luxury MPV. The V09 features an 800V high-voltage platform enabling rapid charging. Hycan vehicles incorporate an AI smart assistant called 'Little Can', similar to Nio's Nomi, which controls various in-car functions via voice command.
Keywords: electric vehicles, Hechuang Automotive, Hycan, GAC-Nio, Chinese EV manufacturer, electric SUV, electric crossover, electric sedan, EV joint venture, Hycan 007, Hycan Z03, Hycan A06, Hycan V09, pure electric vehicles, new energy vehicles, automotive technology, GAC Group, Pearl River Investment, smart EV, China automotive market