(Yicai Global) May 21 -- The joint venture company of Chinese automakers Nio and GAC Group, has debuted its first car brand, with deliveries scheduled to start in the first half of next year.

GAC Nio New Energy Automobile unveiled Hycan, as the new brand is known, at a launch ceremony in Hangzhou yesterday. Hycan will have its own distribution channel, said Chief Executive Liao Bin. The JV deals with research and development, sales and services, while GAC Group unit GAC New Energy Automobile will undertake production, he added.

"We hope to become a user-oriented company with deep integration of vehicles and internet, to make users feel not only the precision and reliability of the machine, but also the evolution and rhythm of the digital era," Liao said at a press conference.

Electric vehicle startup Nio and traditional carmaker GAC formed the JV in December 2017 with a total investment plan of CNY1.3 billion (USD188 million). Each party holds a 45-percent share. Management owns the remainder.

But industry insiders are unsure about the brand's potential because the roles of the JV and its two founders in production and technology remain unclear. In addition, they are both exploring new energy vehicles and smart network cars on their own, suggesting that neither will focus fully on their JV's business.