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GAC may have abandoned its plans to enter the United States, but the Chinese automaker is rapidly expanding elsewhere and plans to launch the Aion electric vehicle brand in 2020.

Aion currently only operates in China, where it held a brand event last week that saw the unveiling of an electric hypercar with 1,206 hp, or enough to deliver a 0-60 mph time of 1.9 seconds, according to the company's claims.

The new hypercar is known as the Aion Hyper SSR, and it will go on sale in China in late 2023 for 1.286 million renminbi (approximately $172,500). This is for the base model with rear-wheel drive.

Upgrade to the Hyper SSR Ultimate for 1.688 million renminbi ($240,650) and all-wheel drive to unlock full performance.

Aion is short on details, but the Hyper SSR is said to have carbon-fiber construction, a 2-speed transmission, and silicon carbide chips, which help extend EV range and reduce charge times.

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