I would suggest building mecha as characters, not equipment, but you'll be operating in a range where GURPS character building has issues, so I recommend an advantage along the lines of:
Mecha-Scale
You're functioning on the scale of mechs, rather than humans. As long as you are fighting other mechs, use the normal GURPS combat rules. If for some reason you have to interact with non-mech-scaled opponents, make the following adjustments:
- Base SM is <X>. Set <X> to a value that matches common mechs in the setting -- for example, <X> is +4 for Macross (9 meters) while it's +10 in Pacific Rim (80 meters).
- Any powers that reference hexes actually function in scale hexes. To determine the size of a scale hex, look up <X-2> on the range/speed chart. Thus, a Macross hex is 5 yards.
- Any powers that reference time function in scale time units. Scale time units are optional, but having the giant monsters function on a 5-10s turn can be useful for PC survivability when they're out-of-mech.
- Any powers that reference pounds actually function in scale pounds. To determine the size of a scale pound, multiply by 10 for each +2 to <X>, and if <X> is an odd number, multiply by 3. Thus, a Macross pound is 100 lb.
- When interacting with human scale targets, giant robots have a DX penalty of <X>. This includes attack rolls. However, giant robots also measure range penalty based on scale hexes (alternately, ignore the first <X> in range penalties).
- Damage, Damage Resistance, and Hit Points are all measured in scale hp. Don't try to come up with formulas based on SM, just pick a scale that works well. D-scale works fairly well for smaller mechs that are supposed to be at least somewhat worried about humans, kaiju might be C or M scale.
- To balance innate attack against DR and melee attacks, innate attacks are limited to (Swing) dice of damage.
- Exact point value of all this is irrelevant, as it's a setting switch -- when you're in a mech, you have mech-scale abilities.