Blog

Jun 01, 2023

China's Hozon to start selling Neta EVs in Indonesia from Q4

People wearing face masks following the coronavirus disease (COVID-19) outbreak stand under a Neta by Hozon logo as they attend the Beijing International Automotive Exhibition, or Auto China show, in

People wearing face masks following the coronavirus disease (COVID-19) outbreak stand under a Neta by Hozon logo as they attend the Beijing International Automotive Exhibition, or Auto China show, in Beijing, China September 27, 2020. REUTERS/Tingshu Wang Acquire Licensing Rights

TANGERANG, Indonesia/SHANGHAI, Aug 10 (Reuters) - Chinese electric vehicle maker Hozon Auto said on Thursday 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 Southeast 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 ($24,967), the company said.

The company also plans to start localized assembly and production for its products in Indonesia from the second quarter of 2024, it said.

Wang Chengjie, president director of PT 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% in July year-on-year following a 56% leap in June.

Hozon, which exported 6,970 cars in the first half of this year, has been selling its Neta EVs to Southeast 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 Southeast Asia in the first quarter, following BYD's Atto 3, according to research firm Counterpoint.

($1 = 15,180.0000 rupiah)

Reporting by Stefanno Sulaiman in Jakarta and Zhang Yan in Shanghai; Editing by Kim Coghill

Our Standards: The Thomson Reuters Trust Principles.