China's GAC may have given up on its ambitions to enter the U.S., but the automaker is rapidly expanding elsewhere and in 2020 established the new brand Aion devoted to electric vehicles.

Aion currently operates exclusively in China, where last week it held a brand event that saw the reveal of an electric hypercar boasting 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 called the Aion Hyper SSR, and it's slated to go on sale in China in late 2023 at a starting price of 1.286 million renminbi (approximately $172,500). That's for a standard model with rear-wheel drive.

Full performance is unlocked by upgrading to the Hyper SSR Ultimate which is priced at 1.688 million renminbi ($240,650) and adds all-wheel drive.

Aion is short on details but describes the Hyper SSR as featuring carbon-fiber construction, a 2-speed transmission, and silicon carbide chips, a technology that helps boost range and reduce charge times for EVs.