Smart and Sustainable Electric Mobility
Newrizon, founded by a former Nio senior vice president, announced in February 2023 that it had secured more than RMB 100 million in Series B+ funding from Nio Capital.
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MG, Tesla, and BYD were the brands that exported the most NEVs from China in the first half of the year, contributing 25.3 percent, 22 percent, and 15.4 percent, respectively.
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NEVs exported from China amounted to 800,000 units in the first half of the year, up 105 percent year-on-year.
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Western Europe is a traditional stronghold for international carmakers, and it's difficult for Chinese brands to stand out, TrendForce said.
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Chinese brands are expected to increase their share of the Western European new energy vehicle (NEV) market to 9 percent in 2023, up from 6 percent in 2022, market research firm TrendForce said in a report today.
SAIC's MG is the dominant Chinese brand in the Western European NEV market, according to the report.
Chinese exports of NEVs are primarily aimed at Western European countries with clear timetables for phasing out fuel vehicles, as well as Southeast Asia, especially Thailand, where penetration of such vehicles is low, TrendForce noted.
Western Europe is the home base of traditional international car manufacturers, and it is difficult for Chinese brands to stand out, the report said.
However, it is worth noting that Chinese NEVs emphasize high cost-efficiency and intelligence, and affordable electric vehicles can meet demand against the backdrop of high inflation facing Western Europe, TrendForce said.
In Southeast Asia, where Chinese brands entered early, the number of NEVs here is small, in the tens of thousands range, but the share of Chinese brands is high, the report said.
In 2023, the market share of Chinese brands in the Southeast Asian NEV market is expected to rise to 63 percent from 52 percent in 2022, TrendForce said.
This is a major concern for Japanese brands, which have long had a high market share in the Southeast Asian auto market, the report said.
Entering new markets requires a significant investment of resources, including the establishment of showrooms, after-sales maintenance service systems, charging infrastructure and compliance with local regulations.
Therefore, how to maintain price advantages while adding additional costs will be key to the success of Chinese auto brands overseas, according to TrendForce.
China's NEV industry developed early and has advantages in supply chain, productivity, cost-effective lithium iron phosphate (LFP) battery technology and production capacity, the high report also noted.
Chinese battery makers have layout in global upstream lithium resources, so their cost control and component supply stability are higher, becoming an advantage for Chinese car manufacturers when expanding overseas markets, the report said.
NEVs accounted for more than 25 percent of China's auto exports in the first quarter of 2023, and NEVs will be the focus of future expansion into overseas markets, TrendForce said.
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Neta is actively preparing for entry into the European market and will release a heavyweight global model, it said.
(Image credit: Neta)
Neta Auto, the electric vehicle (EV) brand of Hozon Auto, is sending a new shipment of thousands of EVs to overseas markets for the second time in three months.
A total of 4,000 Neta EVs are being sent abroad, the latest new batch after 3,600 vehicles were sent to overseas markets in March, the company said yesterday in a WeChat post.
Neta did not mention which countries the vehicles will be sent to, although it's possible they will still be in Southeast Asia. A total of 3,600 of the compact SUV Neta V vehicles were sent to Thailand on March 21.
Thailand is Neta's home base for expanding into the ASEAN market, and the Neta V is trusted and loved by local consumers, Neta said yesterday.
From January to April, Neta V ranked second in Thailand with a 16.5 percent share of all-electric vehicle license plate registrations, Neta said, citing data from Thai website AutoLife.
Neta is now actively preparing for its entry into the European market and will participate in the Munich auto show in Germany later this year, and the Neta GT sports car will be launched in overseas markets in the near future, it said.
Neta will also release a heavyweight global model that will accelerate bringing high-quality electric smart cars within reach, it said, without giving further details.
Neta has been seen as a budget EV maker since its inception in October 2014, as its vehicles are priced primarily to target the lower end of the market. The company is trying to create a higher-end image with its flagship sedan, the Neta S, and its sports car, the Neta GT.
As the EV market in China becomes more competitive, local car companies including Neta and NIO (NYSE: NIO) are starting to make more efforts to expand overseas.
Unlike NIO, which is targeting the more developed European market, Neta is focusing its initial efforts on overseas expansion in Southeast Asia.
On August 24, 2022, the right-hand drive version of the Neta V was launched in Thailand as its first model to be offered there.
On March 10, 2023 Neta laid the foundation stone for its factory in Bangkok, Thailand, which will be its main manufacturing base for building right-hand drive electric vehicles for export to ASEAN.
On May 11, Neta announced its entry into Malaysia, officially launching the right-hand drive version of the Neta V for local consumers at the largest auto show in the region.
Neta delivered 13,029 units in May, up 18.35 percent from 13,029 units in the same month last year and up 17.59 percent from 11,080 units in April, according to data released by the company on June 1.
From January to May this year, Neta delivered 50,285 vehicles, up 0.62 percent from 49,974 in the same period last year, data monitored by CnEVPost showed.
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Seres officially launched the Landian brand on March 30 and made its first model, the plug-in hybrid E5, available with technology from Huawei and BYD.
Landian, the new energy vehicle (NEV) sub-brand of the Seres Group, began exporting vehicles, even though the new brand was officially launched only two months ago.
On May 25, Landian shipped the first 500 units of its midsize hybrid SUV Landian E5 to overseas markets, according to a press release from the brand on Sunday.
The vehicles will arrive in two weeks in markets along the "Belt and Road", Landian said.
Seres -- a key automotive partner of Chinese tech giant Huawei -- officially launched the Landian brand on March 30 and made its first model, the plug-in hybrid E5, available.
Equipped with technology from Huawei and BYD, the Landian E5 is a mid-size SUV available in 5- and 7-seat versions with a starting price of RMB 139,900 ($18,940).
The model uses the F31A 1.5L PHEV-specific engine and DHT300 electric hybrid system from BYD's FinDreams Power.
The Landian E5 also comes with Huawei's HiCar 3.0 system, a lite version of HarmonyOS for cars, but supports features including seamless connectivity with cell phones.
The Landian E5 drew strong interest from dealer partners during online presentations with overseas dealers, Landian said yesterday.
Landian literally means blue electricity in Chinese, and the brand is positioned as a builder of the Internet of Everything ecosystem in the "E era," where the letter E refers to Electric, according to Seres.
In 2023, the Landian brand will build 340 experience stores and 160 delivery centers, Seres previously said.
Seres Group sold 6,917 NEVs in April, down 19.12 percent year-on-year and 18.73 percent from March, according to data it released earlier this month.
That includes 2,953 vehicles for the Seres brand, according to the group, which did not release NEV sales for its other brands.
($1 = RMB 7.0756)
Seres unveils new NEV brand Landian and 1st model E5 with BYD, Huawei technology
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This is the largest single export to date for the new Chinese carmaker. The Neta V has already accumulated over 2,000 deliveries in Thailand.
(Image credit: Neta)
Chinese electric vehicle (EV) maker Neta Automobile is sending thousands of EVs to Thailand as it ramps up its efforts in Southeast Asia.
On March 21, 3,600 Neta V EVs began shipping at Guangzhou's Nansha port, the largest single export to date by a new Chinese carmaker, Neta said in a press release today.
The vehicles will be shipped to Thailand, where Neta V has already accumulated more than 2,000 deliveries and ranked second on the list of pure electric model license plate registrations for 2 consecutive months, Neta said.
Neta announced the launch of the right-hand-drive version of the Neta V at a launch event in Thailand on August 24, 2022, as its first model offered there.
Neta said at the time that it had 25 authorized dealers in Thailand and that number would reach 30 by the end of 2022. Its press release today did not mention the company's latest number of dealers in Thailand.
To date, Neta has established a European division, a Thai subsidiary, launched three overseas products including Neta U global version, Neta V global version and Neta V right-hand drive version, and has a presence overseas across ASEAN, South Asia and Middle East markets, it said.
Neta currently sells the Neta V, Neta U-II and Neta S in China, which start at RMB 83,900 ($12,190), 135,800 and 242,800 respectively.
The company delivered 7,117 vehicles in February, up 255 percent from a year earlier, but down 35 percent from 11,009 units in January, data released by the company earlier in the month showed.
On March 10, Neta laid the groundbreaking for its plant in Bangkok, Thailand, which will be its main manufacturing base for building right-hand drive electric vehicles for export to ASEAN.
The plant is Neta's first overseas factory and the first in Thailand for a new Chinese carmaker.
When completed, the plant will have a capacity of 20,000 units per year and is expected to be operational by the end of January 2024, Neta said earlier this month.
Neta plans to expand its overseas operations to more regions including the Middle East and the European Union, making it a brand that consumers around the world recognize and trust, company co-founder and CEO Zhang Yong said at the groundbreaking ceremony for the Thai plant.
As competition in China's EV market grows fiercer, many local car companies have stepped up efforts to expand into overseas markets.
Neta's latest export is the ninth batch of NEVs to be exported from Guangzhou's Nansha Free Trade Pilot Zone this year, according to a report by state-owned CCTV today.
So far this year, the Nansha pilot zone has exported 7,251 NEVs, up more than 33 times year-on-year, according to the report.
($1 = RMB 6.8847)
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