Neta Auto, a prominent electric vehicle (EV) brand under Hozon Auto, achieved a significant milestone today as its 300,000th production vehicle rolled off the assembly line. This momentous event marks a pivotal point in the company’s history, highlighting its remarkable growth and success.
Merely 16 months ago, Neta celebrated the production of its 100,000th vehicle, showcasing its rapid expansion and increasing market demand. Last year alone, the company recorded an impressive delivery of 152,073 vehicles, representing a staggering 118.26 percent year-on-year growth.
Since its establishment in 2014, Neta has positioned itself as a budget-friendly EV manufacturer, capturing the attention of consumers with its competitively priced vehicles primarily aimed at the lower end of the market. The popular Neta V and Neta U models, priced around 100,000 yuan ($14,080), have been the primary contributors to the brand’s success.
In a strategic move to penetrate the premium market segment, Neta introduced its flagship sedan, the Neta S. Priced between RMB 200,000 and 300,000, this model exemplifies the brand’s foray into a higher price range. Additionally, the recent launch of the Neta GT sports car, with prices ranging from RMB 178,800 to RMB 227,800, further showcases Neta’s commitment to expanding its product portfolio and appealing to diverse consumer preferences.
Demonstrating consistent growth and customer satisfaction, Neta delivered an impressive 11,080 vehicles in April, bringing its total cumulative deliveries since inception to an impressive 285,305 units. With May’s delivery figures set to be announced on June 1, the industry eagerly awaits the brand’s continued success.
Buoyed by its remarkable achievements, Neta has set ambitious targets for 2023, aiming to sell 300,000 units, as reported by local media outlet China Securities Journal on February 7. To further bolster its brand image and expand its global presence, the company recently inaugurated its global headquarters in Shanghai on May 29. This strategic move reflects Neta’s dedication to cultivating a more premium brand identity.
Previously, Neta operated its Shanghai headquarters in the Minhang district, alongside a design center in Beijing and a manufacturing facility in Tongxiang, Zhejiang province. As the company continues to soar to new heights, its expanding infrastructure and global footprint position it for continued success in the rapidly evolving EV market.
