Neta Motors manufactured the 300,000th vehicle, accelerating on the Chinese market. What is the Neta's secret?
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Neta delivered 11,080 vehicles in April, bringing its cumulative deliveries since inception to 285,305, according to data monitored by CnEVPost.
(Image credit: Neta)
Neta Auto, the electric vehicle (EV) brand of Hozon Auto, saw its 300,000th production vehicle roll off the line today, marking an important milestone in the company's history.
Neta saw its 100,000th vehicle roll off the line in January 2022. The company delivered 152,073 vehicles last year, up 118.26 percent year-on-year.
The latest milestone comes 16 months after it rolled off the line its 100,000th vehicle.
Neta has been seen as a budget EV maker since its inception in 2014, as its vehicles are priced primarily at the lower end of the market, with the previous main sellers Neta V and Neta U priced at around 100,000 yuan ($14,080).
Neta's flagship sedan, the Neta S, is its first effort at the premium end of the market, with the model primarily targeting a price range of RMB 200,000 to 300,000.
The Neta GT sports car was launched on April 18 with a starting price of RMB 178,800 to RMB 227,800.
Neta delivered 11,080 vehicles in April, bringing its cumulative deliveries since its inception to 285,305 units, data monitored by CnEVPost shows.
The company is expected to announce May's delivery figures on June 1.
Neta is targeting sales of 300,000 units in 2023, local media China Securities Journal reported on February 7.
Neta opened its global headquarters in Shanghai on May 29, as it tries to build a more premium brand image.
Previously it had a Shanghai headquarters in the Minhang district of Shanghai. It has a design center in Beijing and a factory in Tongxiang, Zhejiang province.
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Neta begins deliveries of electric sports car Neta GT, less than 1 month after launch
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NIO's cumulative sales so far this month were around 5,300 units, with the company launching and starting deliveries of the new ES6 on May 24.
For the week of May 22 to May 28, Li Auto (NASDAQ: LI) sold 7,100 vehicles, continuing to lead among China's new car brands, the company said today on Weibo.
Li Auto didn't explain what that sales volume was based on, but apparently, they were insurance registrations. The company had suspended sharing those numbers earlier this month, but has now resumed sharing them.
Last week's numbers mean that Li Auto sold 25,413 vehicles from May 1 to May 28. In the first three weeks of May, Li Auto's numbers were 4,543, 6,670 and 7,100 vehicles.
Li Auto is currently untroubled by the product switch, and its founder, chairman and CEO Li Xiang said on Weibo on May 24 that the company's five-seat SUV, Li L7, is expected to reach 20,000 monthly sales in October.
All of Li Auto's models currently on sale are extended-range electric vehicles (EREVs), with the other two models being the six-seat Li L9 and Li L8.
NIO (NYSE: NIO) sold 1,600 units last week, according to figures shared by Li Auto.
This means that NIO's cumulative sales for the month through last week were about 5,300 units. NIO's numbers for the first three weeks of May were 1,100, 1,200 and 1,400 units, respectively.
NIO officially launched the new ES6 on May 24, after the wait for the model by potential consumers seemed to have been holding down its sales.
Deliveries of the new ES6 began on the evening of May 24, although the vehicles were produced by NIO in advance rather than customized by consumers to their liking.
NIO began production of the new ES6 based on designer-recommended configuration combinations, and if consumers purchase these vehicles, official deliveries will begin on May 25, according to a May 24 post on the NIO App.
Consumers who wish to customize the vehicles can lock in their orders in the NIO App, and deliveries will begin in mid-June.
XPeng (NYSE: XPEV) vehicles sold 2,100 units last week, up from 1,500 units the week before. The numbers were 870 and 1,500 in the first two weeks of May, respectively.
Since May 1, XPeng vehicles have sold 5,970 units this month.
Tesla (NASDAQ: TSLA) sold 12,800 units in China last week, up from 10,200 the week before, according to figures shared by Li Auto.
That figure for Tesla was 5,928 and 9,990 in the first two weeks of May and 38,918 cumulatively so far this month.
Zeekr was at 1,900 last week, down from 2,000 the week before and up from 1,500 in the second week of May. Its numbers for the first week of May are not available.
Neta sold 2,100 units last week, up from 1,500 the week before. That figure was 1,000 and 1,700 units in the first two weeks of May, for a cumulative total of 6,300 units so far this month.
Leapmotor sold 3,600 units last week, up from 3,000 the week before. That figure was 2,200 and 2,500 units in the first two weeks of May, and 11,300 units so far this month.
China NEV insurance registrations for week ending May 21: Li Auto 7,100, XPeng 1,500, NIO 1,400
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Neta delivered 11,080 vehicles in April and is targeting sales of 300,000 units in 2023.
(Image credit: Neta)
Neta Auto, Hozon Auto's electric vehicle (EV) brand, has opened its global headquarters in Shanghai as it attempts to create a more premium brand image.
Neta's global headquarters in Shanghai's Putuo district has officially opened with functions including strategy planning, resourcing, decision-making, and coordination of the company's global operations, according to a press release today.
The facility is also Neta's flagship experience center, research and development center, data center, and service center, it said.
Models including the Neta S, Neta GT, Neta U-II, and Neta V are being showcased at the facility.
Neta was founded in 2014 and previously had a Shanghai headquarters in the city's Minhang district, but no global headquarters, according to its website. The company has a design center in Beijing and a factory in Tongxiang, Zhejiang province.
Neta has been seen as a budget EV maker since its inception, as its vehicles are priced primarily at the lower end of the market, with the Neta V and Neta U priced at around 100,000 yuan ($14,130).
Neta's flagship sedan, the Neta S, is its first effort at the premium end of the market, with the model primarily targeting the RMB 200,000 to 300,000 price range.
The Neta GT sports car was launched on April 18 with a starting price of RMB 178,800 to RMB 227,800.
Neta delivered 11,080 vehicles in April, which was up 25.72 percent from 8,813 units in the same month last year and up 9.84 percent from 10,087 units in March, according to data released by the company on May 1.
Neta S delivered 2,237 units in April, up 1.41 percent from 2,206 units in March, according to the company.
Neta has a sales target of 300,000 units in 2023, local media China Securities Journal reported on February 7.
The EV maker has sales of 152,073 units in 2022, up 118 percent year-on-year, including 3,456 units delivered overseas, according to data it previously announced.
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Tesla vehicles registered 10,200 insurance units in China last week, bringing the number to 26,118 for the first three weeks of May.
Li Auto founder, chairman and CEO Li Xiang said last week that they had been complained about by some of their peers and therefore could not continue to share the weekly insurance registration numbers.
Interestingly, however, the company resumed sharing those numbers today to continue to show that it leads the pack among Chinese new energy vehicle (NEV) startups.
For the week of May 15 to May 21, Li Auto sold 7,100 units, far outpacing other new car brands and reigning as the weekly sales leader for new automaking brands in the Chinese market, the company said today on Weibo.
Li Auto did not explain on what basis the sales were counted, but apparently, they were insurance registrations.
Li Auto surpassed all other traditional luxury brands except Mercedes-Benz, BMW and Audi to remain in the top five luxury brands in the Chinese market in terms of sales, the highest-ranked Chinese brand on the list, it said.
In the first two weeks of May, Li Auto vehicles had 4,543 and 6,670 insurance registrations, respectively. This means that from May 1 to May 21, Li Auto sold about 18,313 vehicles.
The tables Li Auto shared today show that NIO vehicles had 1,400 insurance registrations last week. This means that NIO had 3,700 insurance registrations for the first three weeks of May.
NIO deliveries continue to be curbed by the upcoming launch of the new ES6, with insurance registration figures of 1,100 and 1,200 in the first and second weeks of May, respectively.
NIO will officially launch the new ES6 on May 24, and its deliveries will start on May 25.
The company is getting the ES6 to market with unprecedented delivery efficiency, and as of May 20, the new ES6 show cars were available at nearly 300 NIO stores in 92 cities.
XPeng registered 1,500 insurance units last week, the same as the previous week. In the first three weeks of May, XPeng vehicles had 3,870 insurance registrations.
XPeng deliveries were also dampened by the new model G6, which is expected to officially launch and begin deliveries at the end of next month.
Insurance registrations for Tesla vehicles in China were 10,200 last week, bringing the figure to 26,118 for the first three weeks of May. The number was 5,928 and 9,990 in the first two weeks of May.
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Tesla vehicles registered 10,200 insurance units in China last week, bringing the number to 26,118 for the first three weeks of May.
Li Auto founder, chairman and CEO Li Xiang said last week that they had been complained about by some of their peers and therefore could not continue to share the weekly insurance registration numbers.
Interestingly, however, the company resumed sharing those numbers today to continue to show that it leads the pack among Chinese new energy vehicle (NEV) startups.
For the week of May 15 to May 21, Li Auto sold 7,100 units, far outpacing other new car brands and reigning as the weekly sales leader for new automaking brands in the Chinese market, the company said today on Weibo.
Li Auto did not explain on what basis the sales were counted, but apparently, they were insurance registrations.
Li Auto surpassed all other traditional luxury brands except Mercedes-Benz, BMW and Audi to remain in the top five luxury brands in the Chinese market in terms of sales, the highest-ranked Chinese brand on the list, it said.
In the first two weeks of May, Li Auto vehicles had 4,543 and 6,670 insurance registrations, respectively. This means that from May 1 to May 21, Li Auto sold about 18,313 vehicles.
The tables Li Auto shared today show that NIO vehicles had 1,400 insurance registrations last week. This means that NIO had 3,700 insurance registrations for the first three weeks of May.
NIO deliveries continue to be curbed by the upcoming launch of the new ES6, with insurance registration figures of 1,100 and 1,200 in the first and second weeks of May, respectively.
NIO will officially launch the new ES6 on May 24, and its deliveries will start on May 25.
The company is getting the ES6 to market with unprecedented delivery efficiency, and as of May 20, the new ES6 show cars were available at nearly 300 NIO stores in 92 cities.
XPeng registered 1,500 insurance units last week, the same as the previous week. In the first three weeks of May, XPeng vehicles had 3,870 insurance registrations.
XPeng deliveries were also dampened by the new model G6, which is expected to officially launch and begin deliveries at the end of next month.
Insurance registrations for Tesla vehicles in China were 10,200 last week, bringing the figure to 26,118 for the first three weeks of May. The number was 5,928 and 9,990 in the first two weeks of May.
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NIO's sales appear to continue to be dampened by the upcoming new ES6, as potential consumers may be waiting for this more cost-effective SUV.
The main channels that previously shared weekly auto insurance registrations in China stopped sharing these numbers, but multiple reliable sources that we track on a daily basis shared last week's numbers.
For the week of May 8 to May 14, insurance registrations for all passenger vehicles in China were 365,000, up 43.5 percent year-on-year, but down 11.8 percent from the previous week.
Insurance registrations for conventional internal combustion engine vehicles were 245,000 last week, up 29.8 percent year-on-year but down 20.3 percent from the previous week.
New energy vehicles (NEVs) were 120,000 units last week, up 82.7 percent year-on-year and 12.8 percent from the previous week.
In terms of NEV insurance registrations, BYD (OTCMKTS: BYDDY) continues to hold the distant lead with 46,892 units last week, up from 45,789 units the week before.
s
During the week of May 1 to May 7, the first three days were the Labor Day holiday in China, although May 6 was a Saturday but a weekday. The holiday ran from April 29 to May 3.
Tesla (NASDAQ: TSLA) registered 9,990 insurance units in China last week, up from 5,928 the week before.
NIO (NYSE: NIO) had 1,200 insurance registrations last week, up from 1,100 the week before. These numbers are not precise to the single digit, as the sources tracked by CnEVPost did not share more detailed figures.
NIO's sales appear to be continuing to be dampened by the upcoming new ES6, as potential consumers may be waiting for the more cost-effective SUV.
The company announced yesterday that the new ES6 will be officially launched on May 24, with test drives available on the same day and deliveries to begin on May 25.
This will be its fastest model from launch to delivery, perhaps because of the lessons learned from the long waiting period for models including the ET5 that led to the loss of potential orders.
The continued product switchover led to months of sluggish NIO deliveries, which fell further to 6,658 vehicles in April. The company will report first-quarter earnings on June 9, when it is expected to provide guidance on second-quarter deliveries.
Li Auto (NASDAQ: LI) continued its strong trend with 6,670 insurance registrations last week, up from 4,543 the previous week.
Li Auto is currently untroubled by product switches and its three models are competitive compared to their class, allowing it to maintain strong sales.
To show off that it is leading the pack of new car makers, Li Auto has shared weekly insurance registration figures for the past two months, but stopped sharing them this month.
On May 15, Li Auto founder, chairman and CEO Li Xiang said on Weibo that their sharing of weekly data was complained about by some of their peers, so they were unable to continue sharing them.
Li Auto guided for second-quarter deliveries between 76,000 and 81,000 vehicles when it reported first-quarter earnings on May 10. Considering it delivered a record 25,681 vehicles in April, that guidance means it expects to deliver a total of 50,319 to 55,319 vehicles in May and June.
XPeng (NYSE: XPEV) had 1,500 insurance registrations last week, up from 870 the week before.
XPeng, similar to NIO, is facing a product switch, with potential consumers perhaps watching the upcoming launch of the new SUV G6.
It previously said the G6 would be officially launched and delivered by the end of the second quarter, with a price range of RMB 200,000 ($28,660) - RMB 300,000.
XPeng's monthly sales target for the G6 is two to three times that of the P7, its chairman and CEO He Xiaopeng said during a March 17 analyst call after the company announced its fourth-quarter earnings.
XPeng delivered 7,079 vehicles in April, down 21.36 percent from 9,002 a year ago but up 1.1 percent from 7,002 in March.
It will report first-quarter earnings on May 24, when it is expected to provide guidance on second-quarter deliveries.
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In the increasingly competitive Chinese EV market, EV makers are hoping to capture initial consumer enthusiasm and avoid losing potential orders.
(Image credit: Neta)
Neta Auto, the electric vehicle (EV) brand of Hozon Auto, has begun deliveries of its electric sports car Neta GT, less than a month after the model's official launch, to capitalize on the initial hype.
Neta held a delivery ceremony in Shanghai on May 13 to deliver the first Neta GT EVs to owners, it announced on May 14.
Notably, the two-door, four-seat Neta GT electric sports car was only officially launched on the first day of the Shanghai auto show on April 18, with starting prices of RMB 178,800 ($25,700) to 227,800.
Neta's move to have the Neta GT begin deliveries within a month of its launch demonstrates the desire of EV makers to capture initial consumer enthusiasm and avoid losing potential orders in the increasingly competitive Chinese EV market.
The fact that Neta GT deliveries began shortly after launch validates the company's comprehensive strengths in vehicle development and design, manufacturing, and channel building, Neta said.
(Image credit: Neta)
Neta has been seen as a budget EV maker since its inception, as its vehicles are priced primarily at the lower end of the market, with previous mainstay models Neta V and Neta U priced at around RMB 100,000 to RMB 150,000 in China.
The Neta S is Neta's first effort in the high-end market, priced at around RMB 300,000, and the launch of the Neta GT is expected to further start changing the brand's low-end perception among consumers.
The Neta GT is Neta's second model based on the Shanhai platform after the flagship sedan Neta S. It measures 4,715 mm in length, 1,979 mm in width and 1,415 mm in height, and has a wheelbase of 2,770 mm.
(Image credit: CnEVPost)
The Neta GT is available in single-motor and dual-motor versions, with the single-motor version having a maximum motor power of 170 kW and the dual-motor version having a maximum total power of 340 kW.
The car's battery pack is available in three options -- 64.24 kWh, 74.48 kWh and 77.9 kWh -- and the CLTC range includes three versions -- 560 km, 580 km and 660 km.
In addition to the Neta GT, Neta also gave a debut to a model called Neta GT Speedster, a convertible based on the Neta GT, at the Shanghai auto show.
(Image credit: CnEVPost)
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Prior to entering Malaysia, Neta's efforts in Southeast Asia focused on Thailand and began construction of a Thai factory in March.
(Image credit: Neta)
Neta Auto, the electric vehicle (EV) brand of Hozon Auto, has entered Malaysia as it ramps up its efforts to expand into the Southeast Asian EV market.
Neta recently officially launched the right-hand drive version of its compact SUV Neta V for local consumers at Malaysia's largest auto show, according to a press release from the company yesterday.
Several Malaysian government officials attended the Neta V launch, according to Neta, whose press release did not announce a local price or expected delivery schedule for the model.
Neta has been seen as a budget EV maker since its inception, as its vehicles are priced primarily for the lower-end market.
The Neta V and Neta U are priced in China at around 100,000 yuan ($14,390) to 150,000 yuan. The company is looking to enter the higher end of the market in China with the higher-priced Neta S flagship sedan.
Prior to entering Malaysia, Neta's efforts in Southeast Asia were focused on Thailand.
On August 24, 2022, the right-hand drive version of the Neta V was launched in Thailand, its first model offered there.
On March 10 this year, Neta laid the foundation stone for its plant in Bangkok, Thailand, which will be its main manufacturing base for building right-hand-drive EVs for export to ASEAN.
The plant, Neta's first overseas plant, will have a capacity of 20,000 units/year when completed and is expected to be operational by the end of January 2024.
Neta plans to expand its overseas business to more regions such as the Middle East and the European Union, making it a brand recognized and trusted by consumers around the world, said Zhang Yong, co-founder and CEO of the company, at the groundbreaking ceremony for the Thai plant.
To date, Neta already has a European division, a Thai subsidiary and has launched three products for overseas markets, including the Neta V right-hand drive version, it said in the press release yesterday.
Neta delivered 11,080 vehicles in April, which was up 25.72 percent from 8,813 units in the same month last year and up 9.84 percent from 10,087 units in March, the company announced on May 1.
The flagship Neta S delivered 2,237 units in April, up 1.41 percent from 2,206 units in March, according to the company.
Neta has a sales target of 300,000 units in 2023, local media China Securities Journal reported on February 7.
The EV maker sold 152,073 units in 2022, up 118 percent year-on-year, including 3,456 units delivered overseas, according to data it previously announced.
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Neta has launched two new variants of the Neta S with a shorter range and weaker performance, bringing the starting price of its flagship sedan down to under RMB 200,000.
(Neta S on 2023 Shanghai auto show. Image credit: CnEVPost)
Price cuts are tricky in China's electric vehicle (EV) market, as they can spark protests from existing owners. So, launching lower-priced versions based on existing models has become one option for EV makers that need to boost sales.
Neta Auto, the EV brand owned by Hozon Auto, today launched two new variants of its flagship sedan, the Neta S, bringing the model's starting price down by 13,000 yuan ($1,880) to under RMB 200,000.
The new variants -- the all-electric Neta S 520 Lite and Neta S 520 -- start at RMB 189,800 and RMB 199,800 respectively.
As a comparison, the least expensive version of the Neta S previously on sale was a model with extended-range technology, starting at RMB 202,800.
The lowest-priced version of the pure electric Neta S was previously available in a version with a CLTC range of 715 km, starting at RMB 248,800.
The Neta S 520 Lite and Neta S 520 both have a CLTC range of 520 km and use a lithium iron phosphate battery pack with a capacity of 64.46 kWh.
These lower-priced Neta S BEVs can accelerate from 0 to 100 km/h in 7.4 seconds.
For comparison, the least expensive Neta S BEV with a range of 715 km uses a ternary lithium battery pack with a capacity of 84.50 kWh and can accelerate from 0 to 100 km/h in 6.9 seconds.
The Neta S 520 Lite and Neta S 520 are also weaker than the previously available Neta S BEV in some other specifications, such as the absence of a hands-free power tailgate.
Neta has been considered a budget EV maker since its inception, as its vehicles are priced primarily at the lower end of the market, with the Neta V and Neta U priced at around RMB 100,000 to RMB 150,000.
The Neta S is its first effort at the premium end of the market, officially launched in China on July 31, 2022.
Neta delivered 11,080 vehicles in April, up 25.72 percent from 8,813 in the same month last year and up 9.84 percent from 10,087 in March, according to data released earlier this month.
Neta S delivered 2,237 units in April, up 1.41 percent from 2,206 units in March.
In January-April, Neta delivered 37,256 vehicles, down 4.39 percent from 38,965 in the same period last year.
The Neta S delivered 8,008 units in January-April, for a cumulative total of 10,213 units since deliveries began last October, data monitored by CnEVPost show.
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