China’s Hozon to start selling Neta EVs in Indonesia from Q4
CHINESE electric vehicle maker Hozon Auto said on Thursday (Aug 10) that it plans to start selling its Neta-branded EVs in Indonesia from the fourth quarter of the year, as it expands its business in South-east Asia.
Hozon, which showcased three EV models at the Gaikindo Indonesia International Auto Show starting Aug 10, started taking pre-orders for its best-selling Neta V crossover in the country at a price of 379 million rupiah (S$33,602), the company said.
The company also plans to start localised assembly and production for its products in Indonesia from the second quarter of 2024, it said.
Wang Chengjie, president director of Neta Auto Indonesia, said the local assembly plant will have a production capacity of 30,000 units annually.
Chinese automakers are betting heavily on overseas markets, as the domestic economy struggles, with exports soaring 63 per cent in July year-on-year following a 56 per cent leap in June.
Hozon, which exported 6,970 cars in the first half of this year, has been selling its Neta EVs to South-east Asian countries including Thailand, Myanmar and Nepal.
It has two factories in China with a total capacity of 150,000 units per year. It is building its first overseas plant in Thailand and aims to start production there in January 2024.
Hozon’s Neta V was the second best-selling EV in South-east Asia in the first quarter, following BYD’s Atto 3, according to research firm Counterpoint. REUTERS
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