Chinese electric vehicle (EV) brand Neta Auto, owned by Hozon Auto, stands out as one of the few companies achieving a sequential increase in deliveries for January compared to December. According to released data, Neta delivered 10,032 vehicles in January, marking a 66.76% rise from the same month last year and a significant 95.37% increase from December's figures, with 2,821 units sold overseas.
While Neta's January rebound in deliveries is noteworthy, it is crucial to acknowledge that this improvement appears to stem from a comparatively low base following a substantial drop in December deliveries. Despite the sequential growth, Neta's January figures remain below the highs observed in September and October 2022.
Founded in October 2014, Neta has positioned itself as a budget EV maker, primarily targeting the low-end market in recent years. The brand's current lineup includes budget models such as Neta Aya, Neta X, Neta S (its flagship sedan), and Neta GT (an electric sports car).
Neta's CEO, Zhang Yong, recently teased an upcoming model with the internal codename EP41, featuring a shooting-brake-style design. The unveiling is anticipated around the Beijing Auto Show in late April, with sales expected to commence in the middle of the year.
Expanding its global presence, Neta is actively constructing overseas factories in Southeast Asia. On January 12, the company signed an agreement with a Malaysian partner to jointly establish a local factory, scheduled for full production in 2025. Neta's Thai plant is already operational, while the Indonesian facility is set to commence operations in the second quarter.
The 17th Beijing International Automotive Exhibition (Auto China 2024) from April 25 to May 4, 2024, will serve as a platform for Neta's potential unveiling of its anticipated EP41 model, marking the event's return after a four-year hiatus.